
New appointment at Dunlop Tyres South Africa
Dunlop Tyres South Africa has announced the appointment of Thuli Gasa as Head of Corporate Services, serving as a full member of the Executive Committee.
- Industry News
- 31 May 2025
Chinese electric vehicle (EV) giant, BYD, said on 29 March that it was large enough to shake off the impact of a bruising price war and faltering demand in China, according to Reuters.
This comes after reporting a mammoth elevenfold increase in fourth-quarter profit.
The company could extend its lead in the Chinese market owing to an expanding range of products that is helping it overtake Volkswagen to become the top-selling brand.
BYD's size would help it maintain strong profit margins despite a price war and the end of EV subsidies, Chairman Wang Chuanfu told reporters in Hong Kong on 29 March, referring to developments that occurred after the end of the fourth quarter.
On 28 March, the company posted a quarterly profit for October-December of 7.3 billion yuan ($1.06 billion), up from 602 million yuan a year earlier.
The gross profit margin for automobiles and related products, which accounted for 77% of BYD's revenue in 2022, increased to 20.4%, well above the 3.7% margin in 2021.
More than 40 auto brands, including BYD, followed Tesla's January 6 move to cut prices to defend market shares amid weakening demand.
But BYD is among the few winning market share. Bolstered by its Dynasty and Ocean series of plug-in hybrids and pure electric cars, BYD overtook Volkswagen in February for the second month in four.
BYD accounted for 41% of so-called new energy car sales in the world's biggest auto market for the first two months of the year. Tesla, by contrast, had an 8% share.
Wang said he expected the company's vehicle sales to grow more than 80% in the first quarter, which would outperform the overall market but mark a slower pace compared to BYD's more than 200% sales increase in 2022.
The Chinese EV giant has been slowing output since the start of the year when Beijing ended a national subsidy programme for EVs and plug-in electric vehicles.
Zero Carbon Charge (CHARGE), South Africa’s first company to pioneer a national network of off-grid, solar-powered ultra-fast electric vehicle (EV) charging stations, announced a R100 million equity investment from the Development Bank of Southern Africa (DBSA).
The new Volvo XC70 mid-size SUV is Volvo Cars’ first extended-range plug-in hybrid. It provides a pure electric range of up to 200 kilometres, making it Volvo Cars’ longest-range plug-in hybrid to date.
A shift towards an electric vehicle landscape in South Africa will get another boost with the soon-to-be released Geely Riddara double cab 4x4 and 4x2 bakkies locally by Enviro Automotive.