@DVEous "BYD who was previously the world’s biggest EV maker saw sales decline more than 40% over the same period"
One wouldn't be surprised at this kind of "sales decline" if they knew "Seasonality" patterns of automobile industry sales in China.
The following NEV sales data from China in recent few years may give you a clue about the patterns:
Year Quarter Sales Volume (Mil) QoQ 2022 Q4 2.32 -36.20% 2023 Q1 1.48 2023 Q4 3.18 -34.30% 2024 Q1 2.09
I personally think the main factor that leads to this seasonality in sales is what we call 年底冲销量 (Year-end sales rush). Typically Q4 sales pop because dealers would make use of all their promotion efforts in order to meet annual sales target and get the year-end rebate (from OEMs).
Hope this helps.
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