1. BYD's overseas market has become a new growth point in performance?
According to China Times report, BYD released its third-quarter performance forecast, with a net profit of 5.505 billion to 5.905 billion yuan, a year-on-year increase of 333.6% to 365.11% from 1.27 billion yuan in the same period last year. In the first three quarters, the net profit is expected to be 9.1 billion to 9.5 billion yuan, a year-on-year increase of 272.48% to 288.85%. From the perspective of overall profit level, BYD's profit in the third quarter even exceeded its profit in the first half of 2022 (3.595 billion yuan) and its profit in the whole year of 2021 (3.045 billion yuan), far exceeding market expectations.
It is not difficult to find from BYD's overseas market layout this year that BYD is expected to open up the overseas new energy vehicle market while its domestic sales continue to rise and gain new growth points. According to incomplete statistics from reporters from the China Times, in the passenger car sector, BYD has exported many countries and regions including the Netherlands, Sweden , Germany, Norway, Denmark, Australia, Japan, Thailand, India, Brazil , Bahamas , Colombia, Costa Rica , Dominican Republic and other countries and regions.
Statistics of the General Administration of Customs of China show that China's automobile exports reached 1.91 million vehicles in the first eight months of this year, surpassing Germany to jump to second in the world, second only to Japan, achieving a historic breakthrough. In the field of new energy vehicles, BYD performed well. In September, the month-on-month growth rate of new energy passenger car exports exceeded 50%. In addition, it signed cooperation agreements with enterprises from many countries to jointly promote the development of new energy vehicles.
2. Is BYD's overseas landscape open?
We will carefully study BYD's overseas business development and we will find that BYD's overseas business is actually a representative of the entire Chinese new energy vehicle industry going overseas. In fact, from BYD's overseas business, we can discover the current pattern and layout of new energy going overseas.
First of all, the European and American markets have always been the base camp of automobile giants. Many familiar automobile giants are actually in Europe and the United States. Therefore, for most automobile industries, deploying their business to the European and American markets is the most difficult step. We see that BYD seems very ease in this regard. It constantly improves its business development through its own advantages, especially its technological advantages and market advantages. The frequent overseas business expansion has made a qualitative leap in sales, from more than 4,000 vehicles in July to 7,736 vehicles in September. Under the current circumstances, BYD's export performance is actually allowing the market to see the emergence of a strong BYD.
Secondly, BYD does not rely on its own to fight alone in its entire overseas market layout. BYD's global strategy is actually to promote the long-term development of its own business with its strategic partners. For example, we have observed that BYD and its partners, Shell has about 300,000 Shell charging piles in Europe, jointly opening up BYD's new energy vehicles and car owners. Through the improvement of this infrastructure, BYD's competitiveness in the international market is further improved. This is the current core advantage of BYD. At the same time, BYD is the only manufacturer in the world that masters core component technologies such as battery motor and electronic control. Therefore, under such circumstances, BYD has more market advantages and confidence in technology than other new energy vehicle companies.
3. From the perspective of long-term market development, we actually observe that BYD has a relatively good product system. Whether it is electric buses, electric buses, , electric trucks, electric taxi , or new energy vehicles, they have actually achieved comprehensive development. Through the development of these comprehensive product systems, BYD actually has stronger competitiveness in the market. As long as BYD can continue to expand its advantages, it can actually bring more market possibilities in the market, which is also the core market advantage of BYD.
So we see that for the current BYD, its industrial structure has formed an international development, which can help BYD have a better market performance.
