BYD posted its weakest quarterly profit growth since 2022 while its revenue growth slowed to the lowest level in nearly four years, hit by slowing EV demand and a bruising price war in the world’s largest auto market. First-quarter net profit was up 10.6% YoY at 4.57 billion RMB ($631.08 million) while revenue grew by 4% to 124.94 billion RMB ($19.22 billion), BYD said in a stock market filing. Despite selling over 300,000 battery-only cars, down from a record high, it faced challenges from a price war and slower EV demand in China, the world's largest car market. However, compared to Tesla, BYD’s performance appeared relatively stronger, as Tesla reported its first quarterly revenue decline since 2020. To counter the slowdown, BYD has cut prices on its latest models and aims to expand into new markets, despite facing resistance in the US and Europe.