BYD’s monthly EV sales dropped 5.5% to 396,270 units in September, marking its first year-on-year drop since February 2024.

The China-based automaker also reduced its 2025 sales target by 16% to 4.6 million units.

This sales dip comes as competition intensifies in the Chinese EV market, with rivals posting strong gains.

Geely Automobile sold 273,125 vehicles in September, up 35% year-on-year, while Xpeng’s deliveries rose 95% to 41,581 units, and Leapmotor increased sales 97% to 66,657 units.

BYD and other automakers are expected to push for higher sales in the final quarter as a purchase tax break for some EVs will phase out from 2026.

Analysts predict a short-term rise in deliveries as buyers rush to benefit from the tax incentive.

🔗 Source: Bloomberg

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