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BYD EV Sales Drop Amid Fierce Competition in China

BYD's passenger EV sales fell by 15.7% in April 2026, marking the eighth consecutive month of decline. This domestic dip contrasts with a record export volume increase of over 70% compared to 2025, highlighting the company's reliance on overseas markets. The broader Chinese EV market demonstrated intense competition, as evidenced by rivals posting strong growth. Leapmotor reported a 73.9% year-on-year jump, while Zeekr saw a massive 131.6% increase. Other key players like Xiaomi and Nio also posted significant delivery figures, signaling a dynamic and highly competitive industry landscape.

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BYD EV Sales Drop Amid Fierce Competition in China

BYD's passenger electric vehicle (EV) sales declined for the eighth consecutive month in April, contrasting sharply with record export figures and intense competition from domestic rivals.

BYD's Mixed Performance in April 2026

BYD reported delivering 314,100 new energy passenger vehicles in April. This figure represents a 15.7% year-over-year decline, though it marked a 6.2% increase compared to March deliveries.

On the financial front, the automaker reported a significant drop in profitability, with first-quarter profits falling nearly 55.4% year-over-year. Operating revenue for the quarter reached 150 billion yuan ($22 billion), reflecting an 11.8% decrease.

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Export Surge Highlights Overseas Reliance

Despite domestic headwinds, BYD achieved a record high in export volumes. According to a Hong Kong Stock Exchange filing, exports reached 135,098 units—an increase of over 70% compared to the same period in 2025. This disparity underscores the company's growing dependence on international markets amid heightened domestic rivalry.

Intense Competition from Rivals

The Chinese EV market showed signs of intense competition in April, with several rivals posting record or strong year-on-year growth:

  • Leapmotor: The Stellantis-backed company recorded its highest-ever monthly deliveries in April, totaling 71,387 units, marking a 73.9% increase from 2025.
  • Zeekr: Geely's premium EV brand saw a substantial surge, delivering 31,787 units, representing a 131.6% year-on-year increase.
  • Xiaomi: The tech giant reported over 30,000 EV deliveries, a rise of more than 7.1% compared to the previous year. The company also noted over 70,000 pre-orders for its upgraded SU7 sedan.
  • Nio: Nio delivered 29,356 EVs, an increase of 22.8% year-over-year. This figure incorporates sales from its Onvo and Firefly brands.
  • Li Auto: Deliveries remained relatively stable at 34,085 units, a modest 0.4% increase from the prior year.
  • Xpeng: The automaker reported 31,011 deliveries, marking an 11.5% decline year-over-year, making it one of the few major automakers to report a year-on-year drop alongside BYD.
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