BYD Adjusts 2025 Sales Target Amidst Domestic EV Competition
BYD, a leading Chinese electric vehicle (EV) manufacturer, has adjusted its 2025 sales target due to fierce domestic competition. Despite a recent dip in deliveries, the company remains at the forefront of the global EV market.
BYD has lowered its 2025 sales target to 4.6 million units, a 16% reduction from previous estimates. This move comes amidst intense price competition in the domestic stock market. However, the company still expects to lead in pure EV sales in the third quarter of 2025, with approximately 582,522 units delivered. This figure surpasses Tesla's 497,099 vehicles in the same period.
BYD's market share in China remains robust, accounting for around 54% of total EV sales in September. This strong performance follows a 6% decrease in vehicle deliveries compared to the same period last year, marking the company's first-ever decline. Meanwhile, competitors like Xiaomi have started making significant strides, delivering over 40,000 EVs for the first time last month. Leapmotor also reported a notable 97% increase in vehicle deliveries in September, with 66,657 vehicles sold.
BYD's stock experienced volatility in October, closing at $13.92 after initially climbing to $14.60. Despite the recent dip in deliveries and adjusted sales targets, the company continues to dominate the Chinese EV market and is expected to lead in global pure EV sales in the third quarter of 2025.
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