BYD stock is expected to rise at least 50% this year.
BYD Company stock rose about 5% in 2023. As of Jan. 25 2004, it has fallen by 18.85%.
BYD overtook Tesla in deliveries in 4Q 2023. Its deliveries are increasing at a faster rate than Tesla. Quarterly deliveries are set to exceed that of Tesla. So it is set to beat Tesla in deliveries for full year 2024.
BYD now has 3 premium brands - Denza, FengChengBao and YangWang. They command higher gross margins than mass market models. Exports are increasing rapidly, with overseas NEV sales of 242,765 units in 2023, an increase of about five times. They are priced higher than in China. So gross margin may still increase even though there are price cuts in China.
BYD has obtained a licence for L3 autonomous driving testing and is spending USD14 billion for its smart vehicle strategy. This will enable it to catch up with other EV makers in their ADAS.
BYD is moving in a downtrend channel. It is approaching the 160.44-163.34 support zone and may bottom there.
Jan is traditionally a slow month for sales. Feb should show improvement even though the Chinese New Year holidays fall in Feb.
BYD has a PE of 17.15 which is similar to that for an auto parts maker, rather than an automaker. Tesla has a PE of 44. Although BYD sold 1.57 million BEVs and 3 million NEVs as compared to Tesla's 1.8 million BEVs, it's market cap is only about 10% of Tesla's. This is unjustified given BYD's faster growth in deliveries. Hence, BYD shares may rise 50% or more this year as the market prices it correctly.
BYD's TA is looking bullish in the medium and long term.
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72734102 : Are you kidding? BYD is under investigation for Lying about their so called Retail Sales that never should have been reported. They were wholesale delivery’s to “Their Own Affiliates”! That’s called a SHAM in America! Plus they are Only Ev! Tesla is A Multi Product Corporation! We Like Honest Company’s to invest in! Lmao
bullrider_21OP 72734102: Under investigation? Show us the proof. Don't spread FUD. Tesla is honest company indeed. Musk has been promising robotaxis since 2016. Where is it? When will the hyperloop be ready. Tesla car still can't auto-park properly. Auto wipers still having problems after so many years. Tesla faked the range display on some of their cars.
baozz : Uh-huh
imaginative Otter_ya 72734102: Please provide a link to this news... Thanks!
72734102 : Many analysts are saying BYD is over rated in its growth predictions. As the EV market is likely to stagnate n stall. Tesla will start collecting Royalties from FORD n GM starting Feb.24, 2024. Money money
bullrider_21OP 72734102: BYD is not over rated. Now the analysts have valued BYD at very low PE. You can see for yourself. Charging fee for Tesla is not a lot compared to deliveries. Only 10% of cars sold in US are EVs.