Etiqueta: Geely

STORY: BYD’s era of white hot growth could be coming to an end.Reuters sources say the Chinese EV giant has slashed its sales target for the year by up to 16%.The country’s largest automaker said in March it was targeting sales of 5.5 million vehicles this year.But the sources say that number has been cut repeatedly since then.They say BYD is now aiming for at least 4.6 million unit sales, with that number still subject to change.The company did not respond to a request for comment on the report.If confirmed, the new target would mark a 7% increase from last year, or the firm’s slowest growth since 2020.It comes amid weak domestic demand in the world’s second largest economy.Consumers in China have had their confidence sapped by factors including a deep downturn in the country’s housing market.Now BYD’s numbers will be closely watched.The firm has transformed from an EV upstart to one of the world’s most important automakers in a few short years.Its sales of electric cars and plug-in hybrids grew ten-fold between 2020 and 2024, putting it on par with Ford and General Motors in scale.But the company is showing undeniable signs of a slowdown, especially in China, which accounts for 80% of its sales.BYD has slowed production and put back capacity expansion plans at domestic plants.A Reuters analysis shows its sales of budget cars, which make up the bulk of its home-market demand, fell close to 10% on the year in July.By comparison, local rival Geely saw its sales of cheap autos leap 90% over the same period.

BYD's Sales Target Cut: A Wake-Up Call for EV Investors

China’s auto industry is reeling as brutal price wars slash profitability. According to China Daily, among the six major automakers that released first-half 2025 results, only BYD managed to stay profitable—and even its momentum is faltering, sending shockwaves through the market. BYD’s net profit rose 14% year-over-year in H1, but that marks a slo...

BYD, the top-selling electric vehicle manufacturer on earth, has reduced its 2025 end of year sales forecast from 5.5 million cars to 4.6 million, a 16% cut

Chinese electric vehicle maker BYD Co. has slashed its full-year sales target as intense competition in its home market hurts its bottomline.

BYD's Evolving Market Dynamics: A Strategic Reassessment for Investors

BYD has slashed its sales target for this year by as much as 16% to 4.6 million vehicles, two people with knowledge of the matter said.

BYD is feeling increasing competitive pressure from rivals such as Geely and Leapmotor, Reuters said.

The company last week reported its first quarterly profit drop in over three years, while rivals like Geely are gaining ground and even raising their own sales targets.

The target remains subject to change depending on market conditions, the people added. The latest target, which has not been previously reported, is below several recently lowered forecasts from analysts. The new target represents a 7% increase from last year and would be the slowest annual growth since 2020, when sales fell by 7%.