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Chinese auto conglomerate Build Your Dreams (BYD) has begun previewing its Q1 2025 financial results. Although its numbers have dipped compared to Q4 2024, the automaker’s net income continues to soar year over year. BYD expects that number to be up at least 86% but could be much higher.
BYD’s growth and expansion have become a weekly news topic here at Electrek, with no signs of the Chinese automaker slowing down, even amidst growing trade tensions between global superpowers and tariffs sure to stunt everyone’s growth.
The Chinese auto conglomerate has become one of the most innovative and fast-growing companies in its respective segment, expanding its market reach throughout Asia and into new markets with sales and localized production around Europe, South America, and (maybe) North America.
2024 marked a record year for BYD’s financial results, achieving over $100 billion in sales, which has continued so far this year. Last week, we reported that through the first three months of 2025, BYD had sold over one million New Energy Vehicles (NEVs), up 60% from the 626,263 sold in Q1 2024.
With Q1 2025 now complete, BYD has begun teasing its financial results for the past three months and we expect to see more tremendous year-over-year growth from the automaker.
BYD’s financial results promise continued YoY growth
CnEVPost pointed out that BYD made a stock exchange announcement in China earlier today, sharing an encouraging tidbit about its Q1 2025 financial results. The automaker expects its quarterly net income to land between RMB 8.5 billion ($1.16 billion) and RMB 10 billion ($1.37 billion). That translates to year-over-year growth between 86.04% and 18.88% compared to Q1 2024.
BYD’s Q1 2025 numbers are not as strong as a quarter ago, but that is common for all automakers, as the first three months of the year are usually a slower period for sales. Still, the first three months of 2025 marked BYD’s highest first-quarter performance in NEV sales to date.
As a result, BYD expects its basic earnings per share in Q1 2025 to land between RMB 2.91 ($0.40) and RMB 3.42 ($0.47) compared to RMB 1.57 ($0.21) in Q1 2024. It’s important to note that these initial numbers are preliminary calculations, and we will get a better idea of where BYD’s Q1 growth sits when it releases its full financial results.
Still, BYD’s Q1 2025 NEV sales grew, bolstering its reign as the global leader in the segment (note that this includes PHEV sales). As we reported last week, it appears BYD is continuing to grow globally, and its upcoming financial results could provide evidence that it will finally overtake Tesla’s global BEV market share at some point this year.
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