Streetbeat News

BYDDY

BYD Co

http://www.byd.com/

Open

67.72

Mkt cap

110B

Volume

46K

High

67.93

P/E Ratio

21.07

52-wk high

83.67

Low

67.45

Div yield

0.01

52-wk low

43.62

Tesla Inc (TSLA) reported its first annual drop in sales, facing increased competition and a price war that hurt profit margins. General Motors (GM) saw a decline in EV and fleet deliveries but had a bright spot with newer EV models like the Cadillac Lyriq. Ford Motor (F) had a strong start to the year with a significant rise in vehicle sales, including hybrids and EVs like the F-150 Lightning. BYD (BYDDY) experienced a drop in pure EV sales but reported a 13% rise in overall EV sales.

Portfolio Pulse from Upwallstreet

April 03, 2024 | 3:55 pm

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, criticized Tesla, Inc. (TSLA) CEO Elon Musk for the company's poor Q1 sales, attributing it to Musk's behavior. Gerber's firm holds 3,000 Tesla shares in its AdvisorShares Gerber Kawasaki ETF (GK), which has a 2.37% portfolio weighting in Tesla. Gerber has become bearish on Tesla, predicting analysts will lower EPS estimates for 2024 and 2025. He called for a new sales strategy and a shakeup of Tesla's board, criticizing its lack of independence and failure to address Musk's behavior. Tesla's stock fell 4.90% to $166.63.

Portfolio Pulse from Shanthi Rexaline

April 03, 2024 | 6:35 am

Xiaomi Corporation is entering the EV market, intensifying competition for Tesla Inc. Tesla raised Model Y prices in the US but cut Shanghai production due to competition and slow growth in China. Xiaomi's first EV, the SU7 sedan, received 120,000 pre-orders in 36 hours. Despite a slowdown in China's EV market growth, Xiaomi's entry with a sporty EV priced below Tesla's Model 3 could exacerbate Tesla's challenges. Tesla's vehicle deliveries in China dropped by 6% YoY in the first two months of 2024.

Portfolio Pulse from Upwallstreet

April 02, 2024 | 2:18 pm

BYD, Nio, Li Auto, and XPeng reported increased vehicle deliveries in March, with BYD leading as the world's largest EV seller in the last quarter of 2023. BYD's sales rose 46% in March, with significant growth in exports. Nio, Li Auto, and XPeng also showed strong delivery numbers, with Li Auto reaching a milestone of 700,000 cumulative deliveries. Tesla, however, is anticipated to report its first YoY decline in deliveries since 2020, with its stock down 29% year to date.

Portfolio Pulse from Upwallstreet

April 02, 2024 | 2:07 pm

Tesla, Inc. (TSLA) reported a year-over-year decline in Q1 deliveries and production, missing analyst estimates and sending its stock lower in premarket trading. Despite this, Tesla reclaimed its position as the world's leading battery electric vehicle manufacturer by volume. Rival Rivian Automotive, Inc. (RIVN) also reported its Q1 deliveries. Tesla's price cuts failed to significantly boost sales, and the company faces headwinds in Europe and potential supply disruptions in the U.S. Tesla's Q1 earnings report is anticipated on April 23, with investors looking for updates on a sub-$30,000 electric vehicle and the Full Self-Driving software rollout.

Portfolio Pulse from Shanthi Rexaline

April 02, 2024 | 1:18 pm

Hyundai Motor Co and Kia Corp are intensifying their electric vehicle (EV) efforts to compete with Tesla Inc, according to Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management. Despite being cheaper, Gerber believes these EVs are not as good as Tesla's offerings. The South Korean government is supporting Hyundai and Kia with new EV policies, while Tesla continues to face challenges, including concerns about a potential production slump.

Portfolio Pulse from Benzinga Neuro

April 02, 2024 | 1:45 am

BYD Co. Ltd. reported a year-over-year increase in Q1 BEV sales but saw a decline from the previous quarter. Despite this, Tesla, Inc. is expected to report a year-over-year drop in deliveries for the first time since COVID-19, potentially allowing BYD to maintain its lead as the world's biggest battery EV manufacturer. Tesla's Q1 delivery estimates are lower than consensus, amid slowing EV adoption and intense competition.

Portfolio Pulse from Shanthi Rexaline

April 01, 2024 | 5:10 pm

Tesla, Inc. (NASDAQ:TSLA) increased the prices of all Model Y variants in China by 5,000 yuan ($692) effective April 1. This move comes after aggressive price cuts in China since late 2022 did not boost volume growth and led to a price war, notably with BYD Co Ltd. (OTC:BYDDY) (OTC:BYDDF), which overtook Tesla as the world's biggest battery EV manufacturer in Q4 2023. Analysts suggest Tesla should explore strategies beyond price cuts. Tesla's stock closed down 2.25% at $175.79.

Portfolio Pulse from Shanthi Rexaline

April 01, 2024 | 3:37 am

The electric vehicle (EV) sector experienced mixed sentiments despite the broader market's record high. Tesla faced reduced delivery targets and price target cuts due to demand issues, while promoting a free trial of its full-self driving software. Fisker announced significant price reductions for its EVs amid bankruptcy rumors. Nikola teased the return of its battery EV trucks and announced the opening of a hydrogen refueling station. Canoo acquired assets from bankrupt Arrival Automotive. BYD aims for a 20% sales growth in 2024. The KraneShares Electric Vehicles ETF saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

March 30, 2024 | 12:21 pm

BYD Company aims to significantly increase its international sales of electric vehicles (EVs) to 500,000 units in 2024, doubling from the previous year, with a goal to reach 3.6 million units in total sales. This ambitious target comes amid a period of slowing profit growth and increased competition in the EV market. Despite a potential drop in vehicle margins due to price competition, BYD is focused on profitability through enhanced sales strategies and the introduction of new, more efficient models.

Portfolio Pulse from Shivani Kumaresan

March 27, 2024 | 4:36 pm

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