BYD has reported a 30 per cent decrease in sales for January, highlighting the difficulties the electric vehicle manufacturer faces in boosting sales as subsidies are reduced in China. The Shenzhen-based company delivered 210,051 vehicles in January, a notable drop from the 300,538 vehicles delivered during the same period last year. This decline was anticipated due to buyers rushing to finalise purchases before the reduction in subsidies for mass-market models at the end of December.
While sales volumes at the start of the year are typically uneven due to the Lunar New Year break, investors are closely monitoring BYD’s trajectory throughout 2026. The slowdown in domestic demand contrasts with growing international demand, making overseas markets increasingly important to the company’s overall performance.
BYD intends to increase deliveries to markets outside of China by almost 25 per cent. This international expansion has become a crucial aspect of its business, contributing to BYD surpassing Tesla as the world’s leading EV manufacturer. Exports reached 100,482 units in January. Analysts anticipate BYD’s total sales to recover to over 5 million units this year, up from 4.6 million units last year. BYD is a Chinese manufacturer of automobiles and batteries.
