BYD’s January sales slip extends fifth straight monthly drop amid stiff competition

BYD’s January vehicle sales fell 30.1% year-on-year to 210,051 vehicles, the fifth consecutive monthly decline, with export NEV volume at 100,482 and production down 29.1%. Domestic demand weakened as plug-in hybrid sales dropped 28.5% despite upgraded hybrids, while the company targets about 1.3 million overseas shipments in 2026 and plans new plants in Hungary, Brazil and Thailand plus potential sites in Indonesia and Turkey. A strong overseas performance helped BYD briefly outsell Tesla last year, but competition at home from Geely and Leapmotor remains fierce, and the 2026 global sales target has not been announced.