"BYD lowers its 2025 goal due to a significant drop in hybrid vehicle sales"
BYD Auto Adjusts Sales Target Amidst Intensifying Competition in China's New Energy Vehicle Market
China's largest vehicle manufacturer, BYD Auto, has revised its 2025 global sales target, lowering it by 16% to 4.6 million units. This adjustment comes amidst a more competitive landscape in the new energy vehicle (NEV) market, with companies like Geely, Xpeng, and SAIC setting a higher level of competition for BYD.
According to a report published by Reuters, sources familiar with the matter have revealed that the price war in China has led to a 30% year-on-year decline in BYD's second-quarter net profits. Despite this, the company's sales have shown some positive signs.
Sales for the first eight months of 2025 increased by 23% to 2,863,876 units. This growth was driven by a surge in sales of commercial vehicles, which saw a fourfold increase year-to-date. Sales of passenger battery electric vehicles (BEVs) also rose by 39% year-to-date.
However, sales of plug-in hybrid vehicles have shown a more mixed picture. While they increased by 8.4% year-to-date, they fell by 23% in each of the last two months. Demand for these vehicles has continued to weaken.
BYD's overseas sales have shown a significant increase, with a 136% year-to-date growth. In the first half of 2025, overseas sales reached 464,266 units, marking a 128% increase compared to the same period last year.
The company's sales in July and August of 2025 were flat year-on-year, suggesting a stabilisation in the market. However, the company is still facing stronger competition from domestic NEV brands in China, which could impact future sales.
The new sales target for BYD Auto is subject to change based on market conditions. The company is encouraged to enter the Just Auto Excellence Awards, an event that celebrates innovation, leadership, and impact in the automotive industry. By participating, companies can showcase their achievements, elevate their industry profile, and position themselves among top leaders.
The deadline for nominating for the Just Auto Excellence Awards has not been provided in the report.
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