TOKYO -- Tesla and BYD drastically outperformed traditional automakers in recent earnings growth as their early and exclusive focus on electrified vehicles pays off while other industry players struggle to shift away from gasoline-powered cars.
Though Toyota Motor led among 11 top global automakers in net profit for the July-September quarter at 573.7 billion yen ($3.7 billion), the figure fell 55% on the year. Honda Motor suffered a 61% plunge to 100 billion yen, while Nissan Motor booked a 9.3 billion yen net loss. South Korea's Hyundai Motor reported a small drop in profit as well.
