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    002594   CNE100001526

BYD COMPANY LIMITED

(002594)
  Report
End-of-day quote. End-of-day quote Shenzhen Stock Exchange - 09/17
255.12 CNY   +1.64%
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Tesla launches cheaper Model Y in China; China-made car sales muted in June

07/08/2021 | 11:51am EDT
FILE PHOTO: Visitors wearing face masks check a China-made Tesla Model Y sport utility vehicle (SUV) at the electric vehicle maker's showroom in Beijing

BEIJING (Reuters) - U.S. electric vehicle maker Tesla Inc on Thursday introduced a cheaper version of the Model Y in China, where it faces increased scrutiny from both regulators and the public and growing competition from local rivals.

Tesla's sales of China-made vehicles slipped in June from the previous month, the China Passenger Car Association (CPCA) said on Thursday.

The company, which makes Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 33,155 China-made vehicles, including those for export, compared with 33,463 in May.

Domestic sales in China improved, however, with Tesla selling 28,138 China-made cars in June, up from 21,936 the previous month.

Tesla shares fell 1.2% on Thursday and were set to decline for a third consecutive session.

The standard-range Model Y launched on Thursday has a starting price of 276,000 yuan ($42,588), after government subsidies are taken into account, about 20% less than a long-range Model Y.

The price cut allows its base Model Y to benefit from the subsidies, which are offered to new energy vehicles priced below 300,000 yuan.

Tesla dropped a standard-range Model Y from its U.S. website last year, as CEO Elon Musk said the range was "unacceptably low" at less than 250 miles.

The new version, which uses CATL's lithium iron phosphate batteries (LFP), can run 525 km (326 miles) per charge, compared with 594 km for the long-range version.

BYD sold 40,532 so-called new energy vehicles, which include battery electric and plug-in hybrid vehicles, last month in China. General Motors Co's venture with SAIC Motor sold 30,479 such cars.

CPCA also said China sold 1.6 million passenger cars in June, down 5.3% from a year earlier.

(Reporting by Yilei Sun, Hyunjoo Jin and Tony Munroe; Editing by Mark Potter and Sonya Hepinstall)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BYD COMPANY LIMITED 1.64% 255.12 End-of-day quote.31.30%
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 1.00% 503 End-of-day quote.43.26%
SAIC MOTOR CORPORATION LIMITED 0.50% 20.11 End-of-day quote.-17.72%
TESLA, INC. 0.33% 759.49 Delayed Quote.7.63%
All news about BYD COMPANY LIMITED
09/14BYD : Launches e-Platform 3.0 with the Ocean-X Unveiled
AQ
09/13Beijing Urges Merger of New-Energy Vehicle Makers
MT
09/13BYD Launches E-Platform 3.0 with the New Concept Car Ocean-X Unveiled
CI
09/12BYD : Launches e-Platform 3.0 with the New Concept Car Ocean-X Unveiled
PU
09/10China vehicle sales fall for fourth month on chip shortages
RE
09/09BYD : Booming Sales! BYD Sold 60,508 New Energy Vehicles in August
PU
09/09Tesla's China Sales Rebound in August on Cheaper Model Y Version
MT
09/09China Explores Measures to Address Overcapacity in Electric-Vehicle Sector
MT
09/09China's New-Energy Vehicle Subsidies Surge Tenfold in 2020 from 2016
MT
09/08China Expects Nearly 3x Growth in New-Energy Vehicle Sales in January-August
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Analyst Recommendations on BYD COMPANY LIMITED
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Financials
Sales 2021 214 B 33 153 M 33 153 M
Net income 2021 4 587 M 709 M 709 M
Net Debt 2021 27 565 M 4 263 M 4 263 M
P/E ratio 2021 129x
Yield 2021 0,07%
Capitalization 687 B 106 B 106 B
EV / Sales 2021 3,33x
EV / Sales 2022 2,62x
Nbr of Employees 224 280
Free-Float 54,6%
Chart BYD COMPANY LIMITED
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BYD Company Limited Technical Analysis Chart | 002594 | CNE100001526 | MarketScreener
Technical analysis trends BYD COMPANY LIMITED
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 23
Last Close Price 213,86 CNY
Average target price 270,83 CNY
Spread / Average Target 26,6%
EPS Revisions
Managers and Directors
Chuan Fu Wang Chairman, President & General Manager
Ya Lin Zhou Chief Financial Officer
Jun Qing Dong Chairman-Supervisory Board
Hong Ping Cai Independent Non-Executive Director
Yan Bo Jiang Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
BYD COMPANY LIMITED31.30%106 206
BYD COMPANY LIMITED26.67%104 006
STELLANTIS N.V.18.76%64 167
FERRARI N.V.-4.64%40 324
SAIC MOTOR CORPORATION LIMITED-17.72%35 870
MARUTI SUZUKI INDIA LTD-9.39%28 447