Chinese EV Maker BYD’s Sales Fall For Fifth Straight Month By 28.5 % While Competing With Elon Musk’s Tesla

In January, BYD’s car sales decreased by 30.1% compared to the same month last year, marking the fifth consecutive month of a dip as the Chinese electric vehicle manufacturer manages challenging domestic competition and external concerns.  

According to a stock market filing on Sunday, the carmaker sold 210,051 cars worldwide last month. For the month of January, 100,482 new energy vehicles were exported. 

It continued a losing streak that started in July of last year with a 29.1% decrease in production.  

In an effort to increase the appeal of its reasonably priced hybrid models, BYD introduced improved new versions of several plug-in hybrid models with long-range batteries at home last month.  

Following a decline of 7.9% in 2025, sales of plug-in hybrid vehicles, which accounted for almost half of BYD’s total car sales, plummeted 28.5% in January. 

In a meeting in November, BYD’s management informed Citi that the company had set a goal of 1.3 million vehicles to be shipped outside this year, which is a 24% increase from 2025 but less than the previous objective of up to 1.6 million vehicles.  

The negative revision was not explained by the corporation.  

In addition to its production in Brazil and Thailand, its new EV plant in Hungary is anticipated to be online this year. Additionally, it plans to build assembly facilities in Turkey and Indonesia. 

Last year, BYD overtook Tesla as the world’s top EV seller thanks to a 150.7% increase in sales overseas, which countered growing pressure in its home market, particularly from Geely and Leapmotor in the budget class.  

Last year, BYD barely achieved its reduced global sales goal of 4.6 million units. The 2026 aim has not been disclosed.  

As the Chinese government reduces incentives for trading in lower-priced models, the largest auto market in the world is predicted to see stagnation this year, which will put pressure on BYD and its competitors that gambled on low-cost vehicles.  

(input from Agency)

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