Chinese electric vehicle leader BYD has reported full-year sales of 4.6 million vehicles in 2025, a milestone that puts the carmaker on the brink of surpassing Tesla in annual electric vehicle (EV) deliveries. According to regulatory filings and market reports, BYD’s total sales in 2025 rose 7.7 per cent year-on-year, which in fact is the slowest growth rate the company has posted in five years as it contends with stiffening competition from domestic rivals such as Geely and Leapmotor in China’s highly contested budget segment.
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Initially targeting 5.5 million units, BYD revised its sales guidance downward mid-year, ultimately hitting 4.6 million vehicles, a figure that industry watchers say reflects both intensifying market pressures and shifting consumer demand. The month of December underscored the cooling momentum, with sales dipping 18.3 per cent compared with December 2024 — marking the fourth consecutive monthly decline and the steepest drop in nearly two years.
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However, BYD’s overseas performance was a standout bright spot. International sales surged to 1,046,083 units in 2025, representing a 150.7 per cent increase year-on-year. The jump highlights BYD’s growing global footprint, particularly in Southeast Asia, Europe and Latin America. On the pure EV front, BYD delivered 2.26 million battery-electric vehicles in 2025, a 27.9 per cent rise over the previous year. That figure puts the Chinese brand on track to out-deliver Tesla in annual EV sales for the first time.
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However, there are still some imminent challenges for further growth. It is noted that China is scaling back EV purchase incentives in 2026, while regulators clamp down on aggressive discounting that has been common across the sector. These policy shifts, coupled with fresh product launches from rivals and potential trade barriers in key export markets, could temper BYD’s growth trajectory. For now, BYD enters 2026 with solid global momentum — even as it braces for a more competitive and less subsidised EV landscape at home and abroad.
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