BYD EV Sales Fall for Eighth Straight Month as Competition Intensifies

BYD reported a decline in passenger electric vehicle sales for the eighth consecutive month in April, highlighting intensifying competition in the world’s largest EV market.

The company delivered 314,100 new energy passenger vehicles including battery electric and plug-in hybrid models marking a 15.7% decline year-on-year, although the figure showed a 6.2% increase from March.

Despite weaker domestic demand, BYD recorded strong performance in overseas markets. Exports reached a record 135,098 units, rising more than 70% compared to the same period last year, underlining the company’s growing reliance on global markets.

The sales slowdown comes amid strong competition from domestic rivals. Leapmotor reported 71,387 deliveries, its highest monthly total, while Zeekr posted 31,787 units, reflecting a sharp year-on-year increase. Xiaomi also continued to gain traction, delivering over 30,000 vehicles in April.

Other automakers showed mixed performance. NIO reported 29,356 deliveries, up year-on-year, while Li Auto maintained steady sales growth. Meanwhile, XPeng posted a year-on-year decline in deliveries.

BYD’s financial performance also reflected the pressure, with first-quarter profit falling by more than 55% year-on-year, while revenue dropped 11.8% to 150 billion yuan ($22 billion).

The company is accelerating its international expansion strategy, aiming to export over one million vehicles in 2026. BYD has strengthened its presence in regions such as Europe, Latin America, and Southeast Asia, while also expanding manufacturing operations in countries including Brazil and Hungary.

The shift highlights a broader trend in the EV industry, where Chinese automakers are increasingly targeting overseas markets to offset slowing domestic growth and rising competition.