Popular new energy car manufacturer BYD Co.’s sales has fallen for a third straight month (in 2025) as the world’s largest electric vehicle maker faces intensifying competition from rivals churning out popular models. BYD delivered 480,186 vehicles in November which is impressive but its a 5.3% drop from the same period a year earlier.
Meanwhile, the Shenzhen-based automaker sold 474,921 passenger vehicles of which 237,540 units were fully electric vehicles and another 237,381 were plug-in hybrids.
While sales of fully electric models rose nearly 33%, hybrids fell 5.5%. The company saw its sales drop for the third consecutive month.
Despite the slowdown in sales growth over the past three months, BYD has sold 4,182,038 vehicles from January through November which is up 11.3% year on year.
In September, BYD cut its annual target of 5.5 million vehicles to a modest 4.6 million units.
Considering the adjusted goal, the company is targeting December sales to account for 418,000 vehicles.
BYD’s international sales reached 131,935 units in November, according to the company’s filing with the Hong Kong Stock Exchange. Year-to-date through November, BYD’s overseas deliveries totalled 912,562 vehicles.
The company’s exports reached a record 90,049 units in June as BYD expanded globally, but overseas sales declined through September before rebounding in October and November.
A research note by Citigroup last month indicated that BYD expects sales outside China to represent approximately 900,000 to 1 million vehicles in 2025. With 912,562 overseas units delivered through November, the company has already achieved the lower end of that target range.
During the third quarter, BYD’s overall passenger vehicle sales rose nearly 15% while overseas sales dropped almost 12%, highlighting a contrast between domestic growth and declining international performance. The recent rebound suggests the company has stabilised its export channels heading into year-end.
Since ceasing production of internal combustion engine vehicles in April 2022, BYD has focused exclusively on new energy vehicles.
