"BYD's sales growth fell to 7.7% in 2025 as growing domestic competition in China's saturated car market sapped momentum at the EV giant. It's the slowest pace of growth for the company in five years. BYD sold 4.6 million vehicles last year, compared to 4.3 million in 2024. Monthly sales for December dropped by 18.3% year-on-year, falling to around 420,000 cars sold, according to a Jan. 1 exchange filing."
"On Dec. 29, Tesla shared analyst estimates that predicted the company sold 1.6 million BEVs in 2025. Analysts also predicted that Tesla will sell 1.8 million cars in 2026, 2 million cars in 2027, and 3 million cars in 2029. This would fall below Musk's claim in November that the company would sell 4 million cars annually by 2027. Tesla sales have struggled this year due to consumer distaste with CEO Elon Musk's sojourn into U.S. politics."
"China's car market is fiercely competitive, with car manufacturers slashing prices to take market share from their competitors. Heavy investment in EV manufacturing has also led to an oversupply of cars in China, with UBS predicting that the growth rate of EV sales in China will halve in 2026. Domestic competition is pushing China's car companies to look overseas for new markets."
BYD sold 4.6 million vehicles in 2025, a 7.7% increase from 2024 and the slowest growth rate in five years. December monthly sales fell 18.3% to about 420,000 units. The company sold 2.3 million battery electric vehicles in 2025, up 27.9%, and is likely to overtake Tesla in annual BEV deliveries. Tesla delivered 1.2 million cars in the first three quarters of 2025 and faces headwinds from CEO-related consumer sentiment and reduced U.S. EV subsidies. Intense domestic competition and manufacturing-driven oversupply in China are pushing automakers to expand overseas.
Read at Fortune
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