Tesla Inc.‘s (NASDAQ:TSLA) Chinese rivals BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) and Geely Automobile Holdings Ltd. (OTC:GELYF) (OTC:GELHY) reported declining profits amid slowing demand and fluctuating foreign exchange.
BYD Reports Profit Decline
On Tuesday, BYD released its quarterly financial report, sharing that its profits plunged 55% as profits of over $594 million were reported attributable to shareholders in the company. BYD’s Q1 revenue was around $21.97 billion, down 11.82% YoY from the same period in 2025.
Notably, BYD also reported a 72% surge in short-term borrowing in the first quarter, amounting to $9.6 billion. The automaker said the figure represented an “increase in group financing needs.” BYD’s also reported earnings per share of RMB 0.4480 (over 6 cents).
BYD has been consistently growing in the overseas market as the company sold over 688,993 vehicles in the first quarter this year, including EVs and Hybrids.
Geely Profits Slide
Geely also reported a profit decline of $607 million in its financial report, representing a 27% YoY decline. The automaker said that the decline was attributed to “different impact of foreign exchange fluctuations compared with the corresponding period last year.”
Despite the decline, the automaker reported a 1% increase in sales, reporting 709,358 units sold in the quarter. Geely also reported a profit of over $12.2 billion for the quarter, which is a 15% YoY increase. ON Semiconductor (NASDAQ:ON) recently announced an expansion of its partnership with Geely to develop EVs.
Tesla Vs BYD Vs Geely
Over the past month, Tesla’s stock has grown 5.84% and it currently trades at $377.88 on the NASDAQ. Meanwhile, BYD’s Hong Kong-listed shares surged 1.61% to HK$107.50 ($13.72). On the other hand, Geely’s shares on the Hong Kong stock exchange surged 5.89% to HK$22.30 ($2.85).
Tesla remains the world’s most valuable automaker at $1.4 trillion, while BYD, with a valuation of $140.5 billion, is the third-most valuable automaker in the world. Geely, with its $30.73 billion market capitalization, is the 17th most valuable automaker in the world.
However, questions have been raised by experts about Tesla’s valuation, as the automaker’s value is dependent largely on its self-driving pursuits, which have been brought into question following CEO Elon Musk‘s admission that the company’s Full Self-Driving (FSD) technology needs further improvements.
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