In a recently published report, Citibank has revealed that BYD's March vehicle sales surpassed market projections. According to BYD's production and sales bulletin, sales of new energy vehicles hit 377,000 units in March, marking a 17% increase from the previous month. Notably, overseas sales contributed 72,700 units, representing a 9% month-on-month growth. Citibank analyst Jeff Chung forecasts that BYD's net profit per vehicle in the first quarter will exceed RMB 9,000. After accounting for potential provisions, the estimated net profit is projected to reach at least RMB 8.5 billion, surpassing the earlier forecast of RMB 8 billion. Furthermore, Chung anticipates that BYD's total sales in the second quarter will range between 1.25 million and 1.35 million units, with the net profit per vehicle maintaining above RMB 9,000. Citibank continues to view BYD as its top industry pick, followed closely by Leapmotor and Geely Auto.