BYD’s global sales plunge 20% in October

Core Insights - BYD, China's largest automaker, experienced a significant 20% year-on-year decline in global vehicle sales in October, totaling 429,808 units compared to 536,134 units a year earlier, indicating a sharp deterioration in market performance [1][5] Sales Performance - Sales of battery electric vehicles (BEVs) saw a slowdown, increasing by just over 6% to 219,382 units, while sales of plug-in hybrid vehicles plummeted by over 37% to 204,792 units. Additionally, the company sold 5,634 commercial vehicles, marking a 164% year-on-year increase [2] - Despite the October decline, BYD's global vehicle sales for the first ten months of the year were still up by over 10% to 3,643,377 units, driven by strong performance in the first half. This included a 30% increase in BEV sales to 1,797,558 units, while plug-in hybrid vehicle sales fell by almost 6% to 1,798,082 units. The company also sold 47,737 commercial vehicles year-to-date, up nearly fourfold year-on-year [3] Financial Performance - In the third quarter of 2025, BYD reported a 33% year-on-year drop in net profits to CNY 7.8 billion (approximately US$1.1 billion), marking the second consecutive quarterly decline due to intense price competition in both domestic and overseas markets [4] - Revenues decreased by 3% to CNY 195 billion in the third quarter, while global vehicle sales fell by 1.8% to 1,114,192 units, representing the first year-on-year decline in over four years. However, for the first nine months of the year, revenues increased by 12.7% to CNY 566 billion, while net profits fell by 7.5% to CNY 23.3 billion [5]