Chinese automaker BYD posted “record” Q3 2023 earnings earlier this month, Reuters reports.

According to a market filing, net profit for Q3 totalled 10.41 billion yuan ($1.42 billion), an 82.2% increase from the previous year.

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It saw a 38.5% increase in revenues to 162.2 billion yuan.

BYD’s third-quarter earnings result was within its forecast range of between 9.55 billion yuan and 11.55 billion yuan, Reuters added.

Analysis exclusively undertaken by GlobalData shows that BYD managed a 12% share of its home market in September, ahead of VW and Toyota. BYD deliveries for the first nine months hit 2,079,638 units – a remarkable year-on-year gain of 75.5 per cent.

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