Profits for the Chinese automotive group BYD fell by 19% in 2025 to 32.619 billion yuan (4.086 billion euros) due to increasing competition in China. In financial documents sent this Friday, 27 March, to the Hong Kong Stock Exchange, where the company is listed, the electric vehicle manufacturer indicated that its revenue, which had surpassed that of the American company Tesla last year, grew by 3.46% compared to 2024, reaching 803.965 billion yuan (100.708 billion euros). 'Faced with macroeconomic headwinds and increasingly intense competition, the BYD brand has continuously strengthened its competitiveness, focusing on the integration of key technologies, consolidating its leadership in the domestic market and recording exceptional performance abroad,' the document states. Last year, overseas turnover rose from 28.55% of the total to 38.65%, following growth of 40.05% throughout 2025, while that recorded in China, its main market, decreased by 11.17%. 'We recognise that competition in the Chinese electric vehicle sector has reached a peak and is currently in an elimination phase,' indicated BYD founder and chairman Wang Chuanfu. According to the document, the sector faced international problems in 2025, such as 'trade protectionism and the restructuring of supply chains.' The situation caused BYD's net profit margin to decrease from 5.2% to 4.1% in 2025, its lowest rate since 2022. Throughout the financial year, BYD sold a total of 4.6 million vehicles, of which 1.05 million were destined for other markets, representing growth of 140% compared to the previous year. Specifically, Wang classified Latin America as the 'main pillar' of his company's growth abroad. 'BYD maintained sustained growth in 2025, keeping its position as the world's largest seller of electric vehicles for the fourth consecutive year, ranking among the top 10 automotive groups in sales for the third consecutive year and rising to fifth place in sales among global automotive groups, one position higher than the previous year,' the founder stated. BYD is considering creating or buying a team to compete in F1.