0546 GMT - BYD is likely to post better third-quarter earnings momentum thanks to strong sales, effective cost controls and revenue-mix changes, Citi analysts write in a note. They expect net profit during the period of CNY10.5 billion to CNY11.8 billion, based on investor feedback. The carmaker's 4Q sales could also surprise to the upside as it is likely to hit a monthly number of 500,000 units in November, Citi says. Investors will be watching BYD's results and sales figures closely as they weigh concerns about the impact of more price cuts from Tesla and other EV makers, as well as the recent rebound of traditional car sales, Citi adds. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
October 22, 2024 01:47 ET (05:47 GMT)
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