BYD sales drop for the first time since March 2024

BYD’s first monthly sales drop since 2024

BYD’s New Energy Vehicle (NEV) sales figures experienced a rare and significant decline in September 2025, marking the end of a long period of continuous monthly sales growth for the company. This drop was the first year-over-year monthly decline in NEV sales BYD has recorded since March 2024.

The company sold 396,270 NEVs in September 2025, according to its filing with the Hong Kong Stock Exchange. This number represents a 5.52% decrease in sales compared to the same month last year. The decline ended an uninterrupted growth streak that had lasted for 18 months before this point.

Impact of slumping domestic PHEV demand

The primary cause of the total sales drop was a significant reduction in sales of BYD’s Plug-in Hybrid Electric Vehicles (PHEVs) within the Chinese market. This indicates a substantial shift in what local customers are choosing to purchase.

PHEV passenger vehicle sales in September 2025 fell sharply by 25.58% compared to September of the previous year, totaling 188,010 units. Despite this, BYD’s pure Battery Electric Vehicle (BEV) sales remained strong, with sales rising by over 24% year-on-year.

2025 annual sales target reduced by 16%

Due to the slowdown in the domestic market, BYD had to officially adjust its ambitious sales goal for the entire year of 2025. This change shows the pressure from market competition and new government rules against aggressive discounts.

In September 2025, BYD lowered its internal annual sales target to 4.6 million units from its initial goal of 5.5 million units. This adjustment represents a cut of about 16.4% from the original forecast. The company aims for ‘healthy’ and ‘sustainable’ growth.

Overseas exports soar in the first nine months

In a significant success, BYD’s effort to sell cars outside of China, known as its export strategy, is showing very high growth. This expansion helps balance the lower sales numbers seen in the company’s home country.

BYD states that overseas expansion is a 2025 priority, and external reporting indicates that Chinese brands’ European market share reached 5% in H1-2025, with BYD among the leaders. However, precise 9-month export tallies vary by source and should be cited when available.

BEV lead over American rival

BYD has taken the global lead over its biggest American competitor in purely electric car sales (BEVs). Through the first three quarters of 2025 (January to September), BYD sold a total of 1,605,903 BEV units worldwide.

In the same nine-month period, Tesla reported global BEV deliveries of 1,217,900 units. This achievement gives BYD a definite lead of 388,003 BEV vehicles sold over its main rival by the end of Q3 2025. This confirms BYD’s position as the world’s top seller of all-electric cars.

Rival company outpaces BYD’s growth rate

While BYD’s total sales are still growing over the whole year, its rate of growth is significantly slower than that of some of its main competitors during the same period. This indicates that market competition is increasing rapidly.

From January to September 2025, BYD’s total NEV sales rose by 18.64% to 3,260,146 vehicles. In contrast, its rival Geely reported a massive 114% surge in its EV and hybrid sales during that exact nine-month period, demonstrating much faster growth.

Overseas sales target

BYD is intensely focused on selling more cars outside of China. The company has a clear target for its international expansion in 2025. It expects to deliver between 800,000 and 1 million vehicles to overseas markets this year.

The company has publicly forecast that these export sales will account for approximately 20% of its total global sales in 2025, based on the revised total sales target of 4.6 million vehicles. This demonstrates the significance of the global market for BYD’s continued growth, which is bolstered by its own fleet of car-carrier ships.

End of Warren Buffett’s long-term investment

The famous investor Warren Buffett’s company, Berkshire Hathaway, completed the sale of its entire investment in BYD this year. The investment had lasted for many years and was one of the most successful for the company.

Berkshire Hathaway fully exited its BYD stake by Sept 22, 2025, according to exchange disclosures reported by Reuters. The original investment was made in 2008 for roughly $230 million, and the entire stake sale generated profits of 20 times the initial investment.

BYD’S Hungary factory

To help sell more cars in Europe, BYD is building a factory in Szeged, Hungary. This factory is expected to start production by the end of 2025. It will help BYD avoid paying high taxes on imported cars and make cars closer to European customers.

In the first half of 2025, Chinese car brands collectively held a 5.1% market share in the European market, led by BYD’s strong sales. Building the Hungary plant is a key step to significantly increasing BYD’s brand-specific market share in the EU and UK regions.

Achievement of 10 million NEV production

BYD was the first car company in the world to reach a significant milestone of manufacturing a vast number of New Energy Vehicles. This demonstrates how rapidly they have expanded in the clean energy vehicle market.

BYD became the first global automaker to produce 10 million total NEVs on November 18, 2024. It took the company 15 years to build its first 5 million NEVs, but it only took 15 months to produce the following 5 million units, demonstrating rapid growth.

Founding of the BYD auto car division

Before making cars, BYD was a battery company. They only started their car-making business by buying an existing small company. This step enabled them to begin producing vehicles immediately.

BYD Auto was officially founded in January 2003 after the leading BYD company purchased the small car maker Xi’an Qinchuan Automobile Co. Ltd. The company’s NEV footprint now covers over 70 countries and more than 400 cities worldwide as of April 2025.

Launch of the first mass-produced PHEV

BYD was a pioneer in the electric vehicle industry when it launched the world’s first-ever mass-produced plug-in hybrid car. This model was significant because it made the concept of an electric and gas-powered car a reality for many people.

The BYD F3DM model was launched on December 15, 2008, making it the first mass-produced plug-in hybrid electric automobile globally. The F3DM could drive up to 62 miles using only electric power before switching to gasoline.

BYD’s original battery manufacturing start

The entire foundation of the BYD company is based on manufacturing rechargeable batteries for various electronic devices. This early expertise in battery technology is why their electric cars are so competitive today.

The company was founded in February 1995 in Shenzhen, China, starting with a capital of RMB 4.5 million (about $540,000 USD at the time). By the year 2000, BYD had become the first Chinese supplier of lithium-ion batteries to Motorola.

Focus on premium and luxury sub-brands

BYD has created high-end vehicle brands to sell very luxurious and expensive cars. This allows them to compete directly with global premium car companies and increase their market presence in the luxury segment.

The luxury Yangwang brand, as well as the premium Denza and Fangchengbao brands, are part of this strategy. The Yangwang U8 SUV can produce over 1,100 horsepower and can go from 0 to 60 miles per hour in just 3.6 seconds.

Dominance in Chinese market

BYD is the top seller in China’s New Energy Vehicle (NEV) market, which includes both battery-electric and plug-in hybrid cars. In September 2025, BYD sold nearly 400,000 NEVs globally, a key part of the total Chinese EV sales.

Recent trackers consistently place BYD as China’s No.1 NEV brand, with share fluctuating by month; cite the latest CPCA/CAAM figure for the period you’re referencing. This strong position is mainly due to the strong sales of popular vehicle families like the Qin and Seal, which keep BYD ahead of other Chinese brands.

Thinking about how BYD plans to conquer new markets? Dive into BYD’s doubles lineup across Europe to accelerate growth.

Rapid growth in recent NEV production

BYD’s speed in producing cars has increased significantly in recent years, demonstrating its rapid market takeover. They learned to build cars much faster as the demand for electric vehicles grew.

BYD took 15 years (from 2003 to 2018) to build its first five million NEVs. However, it only took six months to produce its last one million NEVs before reaching the 10 million milestone on November 18, 2024, demonstrating a significant increase in production speed.

Wondering what triggered the sudden dip in investor confidence? Read more in BYD shares drop after sharp quarterly profit decline.

What do you think caused BYD’s sudden slowdown? Share your take below.

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This slideshow was made with AI assistance and human editing.