Warren Buffett-Backed BYD Reports Impressive 33.1% YoY Growth In January Sales, Continues To Scale Sales Into 2024
Portfolio Pulse from Anan Ashraf
BYD Co Ltd reported a 33.1% YoY growth in January sales, selling 201,493 new energy vehicles, including 36,174 units overseas. The company, backed by Warren Buffett's Berkshire Hathaway, has shifted entirely to producing new energy vehicles since April 2022. In Q4 2023, BYD surpassed Tesla as the biggest BEV seller. The company expects a net profit increase of at least 74.5% for FY 2023.
February 02, 2024 | 6:18 am
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POSITIVE IMPACT
BYD Co Ltd's OTC stock, BYDDF, is expected to experience positive short-term impact due to the company's strong January sales figures and its overtaking of Tesla in BEV sales for Q4 2023.
The impressive sales growth, leadership in the BEV market for Q4 2023, and optimistic profit outlook for FY 2023 are likely to attract investor interest and positively impact BYDDF's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
BYD Co Ltd's OTC stock, BYDDY, may see positive short-term movement due to impressive January sales growth and surpassing Tesla in Q4 2023 BEV sales.
The significant year-over-year sales growth and the company's position as the leading BEV seller in Q4 2023, along with a strong profit forecast for FY 2023, are likely to positively influence investor sentiment and stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100