Guan Cha Zhe Wang·2025-10-02 04:58Core Insights - BYD's September sales show a trend of "domestic pressure and overseas growth" [1][4] - The company sold a total of 396,270 new energy vehicles globally in September, marking a year-on-year decline of 5.5%, the first negative growth in 19 months [1] - Domestic sales in September were approximately 325,400 units, reflecting a year-on-year decrease of about 15.8%, despite a month-on-month increase of approximately 11.1% [1][4] Domestic Market Performance - In September, BYD's pure electric vehicle sales reached 205,050 units, up about 24.3% year-on-year from 164,956 units [1] - Plug-in hybrid vehicle sales were 188,010 units, down approximately 25.6% from 252,647 units year-on-year [1] - The domestic market's challenges stem from intense competition and the aftermath of price wars, making it difficult for BYD to maintain previous high growth rates [4] Overseas Market Performance - BYD's export volume in September was 71,256 units, with passenger cars and pickups contributing 70,851 units, representing a year-on-year increase of 107% [2] - Cumulatively, from January to September, BYD sold 701,579 passenger cars and pickups overseas [3] - The strong overseas sales highlight the effectiveness of BYD's international expansion strategy [2] Overall Sales Performance - For the first nine months of the year, BYD's total sales reached 3,260,146 units, reflecting a year-on-year increase of 18.6% [4] - The company is expected to focus on new model launches and further expansion of overseas channels in the fourth quarter to potentially regain growth momentum [4]