Looking across the first 10 months of the year as a whole, things look a little better. Here’s how things changed compared to January–October 2024:
** Full battery electric vehicle sales were up 34.5%*
** Plugin hybrid vehicle sales were down 2.7%*
Overall, BYD is still clearly the king of the EV market globally.
What does 2026 portend?
Likely many domestic Chinese EV manufacturers will be bankrupt soon.
But like Tesla BYD is facing stiff competition from a few Chinese EV makers.
Example-Xpeng.
Or Nio:
Nio posted 40,397 deliveries in October, marking growth across all of its brands —the premium “Nio” brand and lower-priced Onvo and Firefly brands.
Or Xiaomi:
Xiaomi meanwhile, maintained its deliveries with over 40,000 units, with the exact numbers unspecified.
So stronger players will rise and the weak will die in China EV market.
Foreign sales are where BYD’s future lies.
https://electrek.co/2025/02/03/byd-sales-overseas-surge-new-record-global-ev-plans-unfold/
BYD sold over 300,500 new energy vehicles (NEVs) last month, up nearly 50% from January 2023. Like most Chinese automakers, BYD reports NEV sales, including battery electric (EV) and plug-in hybrid (PHEV) vehicles.
BYD dominated seven overseas markets in the first half of 2025, the company’s general manager of brand and public relations, Li Yunfei, shared. Hong Kong, Singapore, Thailand, Indonesia, Spain, Italy, and Brazil are among this list.
BYD has been actively expanding its overseas sales as the automaker plans to sell half of its cars outside China by 2030.