BYD vehicle sales in China have declined for the fifth consecutive month
BYD’s vehicle sales decreased by 30.1% in January compared to the previous year, marking the fifth consecutive month of decline as the Chinese electric vehicle manufacturer faces external uncertainties and intense competition domestically.
Last month, the automaker reported global sales of 210,051 vehicles, according to a stock market filing released on Sunday. In January, the export volume of new energy vehicles reached 100,482 units.
Production decreased by 29.1%, continuing a decline that started in July of the previous year.
Last month, BYD introduced upgraded versions of several plug-in hybrid models featuring long-range batteries, with the goal of enhancing the attractiveness of its budget-friendly hybrid offerings.
In January, sales of plug-in hybrid cars, which accounted for over half of BYD’s total car sales, experienced a decline of 28.5%, continuing a downward trend that began with a 7.9% drop in 2025.
In January, BYD announced its goal of 1.3 million vehicles for overseas shipments this year, indicating a 24% increase from 2025. However, this target is lower than the previous aim of up to 1.6 million vehicles that its management communicated to Citi during a meeting in November.
The company did not provide explanations for the downward revision.
The new EV plant in Hungary is anticipated to commence operations this year, complementing its manufacturing efforts in Brazil and Thailand. Additionally, it has proposed assembly plants in Indonesia and Turkey.
A 150.7% increase in international sales enabled BYD to surpass Tesla, establishing itself as the leading EV vendor globally last year, while countering growing competition in its domestic market, particularly from Geely and Leapmotor (9863.HK) in the budget segment.
BYD just managed to achieve its reduced global sales target of 4.6 million units last year. The 2026 target has not been announced.
The largest auto market globally is anticipated to face stagnation this year as the Chinese government reduces subsidies for trading in lower-priced models, impacting BYD and its competitors focused on budget cars.
