BYD Led China's EV Boom. But It's Not Bulletproof

"After years of rapid growth, EV sales in China grew a modest 1% in January, mainly due to the expiration of subsidies in December and the introduction of a new purchase tax in the new year. BYD, the country's dominant automaker that spearheaded China's EV boom, was hit the hardest. Its sales dropped 30% year over year to just over 210,000 units due to changing EV policies and rising competition."

"We know [EV sales will] slow, we just don't know by how much, said Tu Le, founder and managing director at consulting firm Sino Auto Insights. We'll know much better after the first quarter is over. BYD has had a stellar run at the top and it's impressive how long they've been able to hold off their domestic competitors, Le said, noting it's not just one but several automakers"

EV sales in China grew only 1% in January after rapid previous growth, driven by expired subsidies in December and a new purchase tax in the new year. BYD experienced a 30% year-over-year sales decline to just over 210,000 units amid changing EV policies and increasing domestic competition. Plug-in vehicles made up more than 50% of new-car registrations last year in the largest EV market. Analysts expect clearer trends after the first quarter, and observers note that multiple domestic automakers are challenging BYD's long-held lead. U.S. and Canadian policy moves are also affecting the broader EV landscape.

Read at insideevs.com