{"id":189581,"date":"2023-05-01T10:15:00","date_gmt":"2023-05-01T14:15:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=189581"},"modified":"2023-05-01T09:59:07","modified_gmt":"2023-05-01T13:59:07","slug":"wheels-of-fortune","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/wheels-of-fortune\/","title":{"rendered":"Wheels Of Fortune"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-what-s-going-on\">What&#8217;s going on?<\/h2>\n\n\n\n<p>Chinese carmaker BYD&nbsp;<a href=\"https:\/\/www.bnnbloomberg.ca\/chinese-ev-giant-byd-s-profit-surges-over-400-in-first-quarter-1.1913397\">zoomed<\/a>&nbsp;ahead on its own high-speed growth track last quarter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-does-this-mean\">What does this mean?<\/h2>\n\n\n\n<p>While other carmakers have been busy duking it out in price wars, BYD\u2019s got a lot of mileage out of staying in its own lane. And by \u201cmileage\u201d, we\u2019re talking global sales of 550,000 last quarter, sending operating revenue skyward by a staggering 80%. See, one of BYD\u2019s secret weapons is an uber-efficient supply chain, owned by the company itself, covering everything from batteries to chips. And that smooth operation meant that even splurging on new factories didn\u2019t put too much of a dent in profit. In fact, BYD managed to post a mind-boggling 411% profit spike compared to the same time last year \u2013 blowing past expectations and even topping 2022\u2019s 400% annual growth.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-should-i-care\">Why should I care?<\/h2>\n\n\n\n<p><strong><em>Zooming in:&nbsp;<\/em><\/strong><em>Overtaking \u2013 and taking over.<\/em><\/p>\n\n\n\n<p>BYD\u2019s pedal-to-the-metal performance is bound to prompt some road rage from other global carmakers. See, foreign brands held a comfy 70% share of China\u2019s car market not so long ago. But then along came EVs, and local brands like BYD floored it, leaving the competition in their (environmentally friendly) dust. BYD\u2019s sales figures tell the tale: the company has now sped past Volkswagen, China\u2019s top-selling car brand since 2008, for the first time ever. And with BYD racing past that milestone earlier than planned, rival carmakers had better keep an eye on their own speedometers.<br><br><strong><em>The bigger picture:&nbsp;<\/em><\/strong><em>BYD FTW.<\/em><\/p>\n\n\n\n<p>Analysts reckon BYD\u2019s got plenty more left in the tank. With a parade of new models showcased at this month\u2019s Shanghai auto show, the firm\u2019s covering all its bases, from budget-friendly rides to luxury cruisers. And BYD\u2019s got ambitious plans to nearly double last year\u2019s sales in 2023, revving up for a major push into Europe, Latin America, and Asia. Competitors, consider yourselves warned.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted April 28, 2023 &#8211; <a href=\"https:\/\/go.finimize.com\/wp\/news\/wheels-of-fortune\/\">Wheels Of Fortune<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese carmaker BYD zoomed ahead on its own high-speed growth track last quarter.<\/p>\n","protected":false},"author":186,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,8,9,22,26,3],"tags":[4123,15191,15190,154],"contributors-categories":[13597],"class_list":{"0":"post-189581","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-asia","7":"category-region","8":"category-securities","9":"category-stocks","10":"category-text-articles","11":"category-traders-insight","12":"tag-byd","13":"tag-car-stocks","14":"tag-carmaker","15":"tag-growth","16":"contributors-categories-finimize"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Wheels Of Fortune | Traders&#039; 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