Could be. Certainly razor thin margin. But the BYD entire mix of the EVs are profitable.
Yet BYD still “tripled its profits to $1.5 billion in the first half of last year” in 2023[from link in OP]. And 2 months into 2024 may not reflect how 2024 sales will eventually turn out.
BYD is charging what the market will bear. A good business practice.
BYD could be selling some models at a loss but overall they are very profitable.
Uncle Warren still has a sizable investment in BYD even he sold quite a bit in 2023. WE don’t know why. US-China economic war? Locking in his large capital gain? His estimation that that the future of EV profitability has lowered? His estimation that the EV momentum is permanently slowed.
But why reduce production at the location that likely has the lowest production costs due to low labor cost? Does not make sense to me.