EV giant BYD sees its first decline in sales since 2020, according to analysts from Reuters. The publication revealed that their results were based on a company filing released in late September. The calculations revealed that BYD’s quarterly sales dipped for the first time in five years.
Q3 SALES
In Q3 of 2025, BYD’s overall sales took a slight fall of 1.82 per cent year-on-year (YoY). To be exact, passenger vehicles tumbled 2.1 per cent but commercial vehicle sales rose 52.61 per cent YoY. On the other hand, battery electric vehicle (BEV) sales were also up by 31.37 per cent but plug-in hybrid electric vehicle (PHEV) sales fell 23.73 per cent. Lastly, overall sales are up by a staggering 146.42 per cent while sales in its homebase China are down 5.9 per cent.
CarNewsChina reported the brand’s decline in China due to the ongoing EV price war. Allegedly started by BYD, Chinese EV brands are in a race to price their vehicles as low as possible to attract buyers. The price war intensified mid-year and caused the Chinese government to step in and urge automakers to self-regulate.
For BYD specifically, the company’s stock fell by 8.6 per cent and sales in China from last quarter declined by an average of 20 per cent in effect. BYD and its competitors in the Chinese market have been struggling since.
A FIRST FOR BYD
In response to their performance in Q3, BYD reportedly reduced its sales target for the year by 16 per cent. By the end of the year, the brand aims to sell 4.6 million units, according to General Manager of Branding and Public Relations, Li Yunfei. The company also lowered its output last month by 8.45 per cent, following a pattern of slowing production.
CleanTechnica suggested that the decline in sales could be due to a scarcity of the Sealion 06, which is slated to replace the Song Plus model. While models in the Sealion line-up saw an increase in monthly sales by 363.56 per cent YoY, the Song Plus declined 57.94 per cent in comparison.
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