Institution: BYD's car sales growth rate may slow down this year.

Morningstar analyst Vincent Sun wrote in a report that BYD's car sales growth will slow down this year because of higher base effects compared to last year, and a lack of attractive new car models in a competitive market. He added that the company's net profit for the second quarter was lower than Morningstar's expectations. Despite an increase in car sales, export contributions, and a decrease in battery costs, BYD's aggressive price promotion activities have increased pressure on the profit margin of this electric car manufacturer. Morningstar has lowered its 2025 car sales forecast for the company by 7% to account for sales trends so far this year, and has also reduced revenue forecast for this year by 4%. Due to concerns about competition and price pressures, the analyst also lowered expectations for car profit margins.