/ December 8, 2025 The Chinese automotive giant BYD continues to set new benchmarks for vehicle deliveries, outpacing rivals like Tesla in several key international markets. However, a closer examination of its financial performance reveals a significant trade-off: the aggressive strategy fueling this volume growth is eroding profitability, presenting investors with a complex long-term calculus. Aggressive Expansion and Volume Leadership Recent confirmed data underscores BYD’s dominant sales performance. The company achieved a new monthly record in November, selling 480,200 vehicles. This surge has pushed its cumulative annual sales to 4.18 million units, putting its revised annual target of 4.6 million vehicles firmly within reach. International operations are a primary growth engine, contributing 130,000 units to November’s total. The contrast with Western competitors is stark. In the UK, for instance, BYD’s sales tripled year-over-year in November, while Tesla’s new registrations there fell by 19%. The company is also accelerating its push in India, where partner Landmark Cars has been approved for a new dealership in Pune following an approximate 80% sales increase this year. Furthermore, BYD is preparing to launch a new affordable electric sedan, the “Qin Max EV,” slated for debut in April 2026. The Financial Cost of Market Share Gains This relentless push for expansion comes at a clear financial cost. The latest quarterly figures demonstrate that BYD is prioritizing market share over margins. Net profit for the third quarter plummeted by 33% to 7.82 billion yuan, with revenue also missing expectations.