Tesla, BYD, NIO, Have Profitability worries despite China’s Strong EV Sales
1. BYD's all-electric vehicle sales grew 34% in August. 2. Overall vehicle sales for BYD were nearly flat year-over-year. 3. Increased competition is driving down prices and profits for EV manufacturers. 4. Tesla's sales in China fell approximately 5% year-over-year. 5. BYD missed profit estimates with $900 million in Q2 earnings.