BYD’s global sales plunge 30% in January

Core Viewpoint - BYD Auto experienced a significant decline in global sales, indicating challenging market conditions for both domestic and international operations [1][2]. Group 1: Sales Performance - In January 2026, BYD's global sales dropped by 30% year-on-year to 210,051 units, compared to 300,538 units in January 2025, which had seen a 49% increase [1]. - This decline marks the fifth consecutive month of decreasing sales for BYD, which was the largest automaker in China in 2025 with total sales of 4,602,436 units [1]. - Sales of passenger battery electric vehicles (BEVs) fell by almost 34% year-on-year to 83,249 units and decreased by 56% month-on-month [3]. - Sales of passenger plug-in hybrid electric vehicles (PHEVs) also declined for the tenth consecutive month, down by nearly 29% year-on-year to 122,269 units and by 45% month-on-month [3]. Group 2: Export and Market Conditions - Overall exports fell by 51% year-on-year to 100,482 units in January 2026, and were down by almost 25% compared to December 2025 [4]. - Concerns are rising regarding a prolonged slowdown in China's domestic market following the reduction of incentives for new energy vehicles (NEVs) at the end of 2025 [2]. - The strong surge in exports seen in the previous year is expected to be unsustainable due to the withdrawal of incentives in several key overseas markets [2].