 "BYD’s January sales tumble 30%, fifth straight monthly drop")
Chinese electric vehicle giant BYD reported a 30.1 per cent year-on-year fall in vehicle sales for January, marking its fifth consecutive month of decline amid intensifying competition at home and rising external uncertainties.
The Shenzhen-based automaker sold 210,051 vehicles globally last month, according to a stock exchange filing on Sunday. Of this, exports of new energy vehicles (NEVs) stood at 100,482 units.
Production dropped 29.1 per cent in January, extending a losing streak that began in July last year.
At home, BYD rolled out upgraded versions of several plug-in hybrid models with long-range batteries in a bid to shore up demand for its affordable hybrid line-up. However, sales of plug-in hybrids — which account for more than half of its total car sales — fell 28.5 per cent in January, worsening from a 7.9 per cent decline in 2025.
The company last month set a target of 1.3 million overseas shipments for 2026, implying a 24 per cent rise from 2025 levels. The figure, however, is lower than an earlier goal of up to 1.6 million units shared with Citi in November. BYD has not explained the downward revision.
The automaker is expanding its global manufacturing footprint, with a new EV plant in Hungary expected to begin operations this year, adding to facilities in Brazil and Thailand. Assembly plants are also planned in Indonesia and Turkey.
A 150.7 per cent surge in overseas sales helped BYD overtake Tesla last year as the world’s top EV seller, cushioning mounting competitive pressure in China from rivals such as Geely and Leapmotor in the budget segment.
Quick Reads
View AllBYD narrowly met its revised global sales target of 4.6 million vehicles in 2025 and is yet to announce a target for 2026.
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