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Morningstar analyst Vincent Sun wrote in a report that the growth rate of BYD's car sales will slow down this year, due to a higher base effect compared to last year and a lack of attractive new car models in a competitive market. He added that the company's net profit in the second quarter was lower than Morningstar's expectations. He also mentioned that despite an increase in car sales, a rise in export contributions, and a decrease in battery costs, BYD's aggressive price promotions 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 the sales trends so far this year, and has also lowered its revenue forecast for this year by 4%. Due to concerns about competition and price pressure, the analyst has also lowered the car profit margin expectations.