China’s two largest carmakers, BYD and Geely Auto, reported a jump in their third-quarter earnings, propelled by surging overseas sales as they intensified pressure on established international marques in Europe and Southeast Asia.
BYD, mainland China’s largest automotive group, posted a net profit of 10 billion yuan (US$1.5 billion) in the three months ending September, up 28 per cent from the same period a year earlier. Revenue grew 13.6 per cent to 211.5 billion yuan.
Geely said on Thursday...