BYD Feb NEV sales plummet 41% domestically, hit by Chinese holidays

BYD, China’s largest New Energy Vehicle (NEV) manufacturer, released its sales results for February 2026 today. Total sales reached 190,190 units, a 41.1% decline from February 2025. This figure also marks a 9.5% month-on-month decrease from the 210,051 units sold in January, according to Autohome.

The decline coincides with the 2026 Chinese New Year holiday, which took place from February 15 to February 23, reducing the number of business days compared to the same period last year.

Passenger and Export Breakdown

Passenger NEV sales for the month totalled 187,782 units, down 41% year-on-year. Despite the domestic slowdown, overseas sales remained a significant contributor to the brand’s volume. BYD exported 100,600 units in February, a 50.1% increase year-on-year. This is the fourth consecutive month that BYD’s overseas shipments have exceeded the 100,000-unit threshold.

PHEV vs BEV Performance

In line with recent market trends, plug-in hybrids (PHEVs) continue to outsell battery electric vehicles (BEVs) within BYD’s passenger portfolio:

• PHEVs: 108,243 units (down 44% YoY)
• BEVs: 79,539 units (down 36% YoY)

Commercial vehicle sales remained low, with 2,408 units delivered, a 47.8% decrease year-on-year.

Battery Installation Data

BYD’s total installed capacity for power and energy storage batteries reached 18.773 GWh in February. This represents a 12.5% increase over February 2025, but a 7% decline from January’s 20.187 GWh, according to IT-home.

Market Context

The February contraction is visible across the Chinese automotive sector. For comparison, Geely Auto reported total sales of 206,160 units for the month, with its own export volume rising 138% to 60,879 vehicles.

In response to the domestic sales pressure and the introduction of a new 5% purchase tax on NEVs in early 2026, BYD has recently implemented new 7-year low-interest financing plans to stimulate demand. The company is also expected to launch several new technology platforms later this month, including Blade Battery 2.0 and the second-generation “Flash Charge” facilities.