BYD has closed out 2025 with a performance that tells two very different stories: a challenging domestic market facing stiff competition, and an explosive surge in international dominance.
The company delivered 420,398 NEVs in December, representing an 18.34% year-on-year decline. Sales were also 12.45% lower than November, when BYD posted its strongest monthly performance of 2025 with 480,186 units sold.
Despite weaker overall volumes, BYD’s overseas sales reached a new all-time high of 133,172 units in December. This figure surpassed November’s previous record of 131,935 units and reflected a 133% year-on-year surge and a 0.94% month-on-month increase, underscoring the company’s accelerating global expansion.
Passenger and Commercial Vehicle Performance
BYD’s NEV lineup includes both passenger and commercial vehicles. Passenger NEV sales totaled 414,784 units in December, down 18.58% year-on-year and 12.66% month-on-month.
Within the passenger segment:
– Battery electric vehicle (BEV) sales reached 190,712 units, declining 8.19% year-on-year and 19.71% from November.
– Plug-in hybrid electric vehicle (PHEV) sales fell to 224,072 units, marking a 25.73% year-on-year drop—the ninth consecutive month of decline—though sales were only 5.61% lower month-on-month.
Meanwhile, commercial NEV sales totaled 5,614 units, posting a 4.56% year-on-year increase and a 6.63% rise compared with November.
Fourth-Quarter Results Show Sequential Recovery
For the fourth quarter, BYD sold 1,342,290 NEVs, down 11.94% year-on-year, but up 20.47% compared with the third quarter, signaling a sequential recovery.
Passenger NEVs accounted for 1,326,561 units, a 12.38% year-on-year decline, but a 19.99% quarter-on-quarter increase.
Commercial NEVs reached 15,729 units, surging 52.69% year-on-year and 82.87% from the previous quarter.
Passenger BEV sales in the fourth quarter totaled 650,811 units, up 9.30% year-on-year and 11.72% quarter-on-quarter. In contrast, passenger PHEV sales fell 26.43% year-on-year to 675,750 units, although they rebounded 29.19% from the third quarter.
BYD’s overseas momentum was especially strong, with fourth-quarter international NEV sales reaching 349,011 units, a 192.49% year-on-year increase and a 49.91% rise quarter-on-quarter.
Full-Year 2025 Performance
For full-year 2025, BYD sold 4,602,436 NEVs, representing a 7.73% year-on-year increase and allowing the company to meet its revised annual sales target of 4.6 million units, despite intensifying competition.
Breakdown of 2025 sales:
– Passenger NEVs: 4,545,423 units, up 6.94% year-on-year
– Passenger BEVs: 2,256,714 units, up 27.86% year-on-year
– Passenger PHEVs: 2,288,709 units, down 7.91% year-on-year
– Commercial NEVs: 57,013 units, up 161.83% year-on-year
Overseas sales were a standout performer, with BYD delivering 1,046,083 vehicles internationally in 2025, a 150.74% increase year-on-year, reinforcing the company’s growing global footprint.
