0458 GMT - BYD's recent pricing campaign shows that its focus is on defending and expanding its market share, especially as the industry edges toward consolidation, HSBC Global Research analysts write in a note. Although the company's new round of promotions seems aggressive, it's actually a repackaging of government subsidies with marginally incremental seasonal promotion, instead of a fundamental shift in pricing strategy, they add. The pricing change reinforces BYD's strategy of favoring scale over temporary per-car profitability in the domestic EV space, they say. This round of seasonal promotion coincides with soft domestic demand, weak consumption sentiment and intense competition in the second quarter, they add. HSBC Global Research maintains its buy rating for the stock at a target price of HK$453.00. Shares last at HK$409.00. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
May 28, 2025 00:58 ET (04:58 GMT)
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