Pinduoduo sees net profit up by 546%, executive says profit level unsustainable

 Details: BYD on March 1 reported its lowest sales since June 2022.

Support TechNodeWith a small team.a subsidiary of Chinas GAC Group.

Sales of major Chinese electric vehicle makers including BYD and Geely fell by nearly half in February from a month prior.BYD kicked off 2024 with the launch of at least eight lower-cost version cars over the past two weeks.including battery EVs and plug-in hybrids.

hit by the week-long Chinese New Year holiday and a prolonged cold snap.5% month-on-month to roughly 668.

dropped 49% month-on-month to 33.

Context: Analysts expected NEV sales to bounce back in March following recent price cuts by Chinas major automakers.according to a March 1 note from Jefferies.

BYD kicked off 2024 with the launch of at least eight lower-cost version cars over the past two weeks.hit by the week-long Chinese New Year holiday and a prolonged cold snap.

in part due to a high base in December when most automakers made a year-end sales push.according to figures from the China Passenger Car Association.