BYD Co. reported a quarterly profit that falls to its lowest in over three years, marking a sharp decline as the world’s largest electric‑vehicle maker ramps up discounts to stay competitive.

The slump follows a wave of price cuts across the segment, forcing the Chinese automaker to deepen its margin erosion. Investors see the move as a sign that the EV market is entering a battle‑for‑share phase.

Profit erosion underscores the pressure from rivals and shows how aggressive pricing can erode even the strongest players. Market watchers note that BYD’s strategy may reshape cost structures across the industry.

The company’s latest figures reveal the cost of sustaining sales volumes in a crowded field, highlighting the fragility of EV profitability in a price‑sensitive market.