BYD sold 4,602,436 new energy vehicles globally in 2025, a 7.7% increase year-over-year, meeting its revised annual target while posting the slowest growth in five years.
The Shenzhen-based automaker registered 420,398 fully electric and plug-in hybrid vehicles in December — a 12.4% decline from November’s 480,186 units and an 18.3% drop year-over-year.
The November figures were the highest monthly figures in 2025.
December marked the fourth consecutive month of year-on-year decline for BYD.
Fourth-quarter sales reached 1,331,905 units, a decline from the same period a year ago when over 1.5 million vehicles were sold in the final three months.
China’s giant initially aimed at delivering 5.5 million vehicles in 2025, a target that was trimmed by nearly 1 million in September — to 4.6 million units.
BEV Sales Led 2025
With the introduction of new fully electric models, expansion into new markets, and the support of EV incentives across several countries — including in China — the company’s battery electric vehicle sales (BEV) have exceeded those of its plug-in hybrids (PHEV) this year.
From April onward, BYD registered more BEVs than PHEVs, with figures around 190,000 and 205,000 units per month since then.
On the other hand, plug-in hybrid sales have ranged between roughly 170,000–190,000 units per month since the beginning of the year.
In November, each powertrain represented about 50% of BYD sales, at about 237,000 units.
Overseas Sales
BYD exported 133,172 new energy vehicles in December, a new monthly record.
After previously selling a record 90,049 units in June, the company surpassed 100,000 overseas sales in November, following three consecutive months of around 80,000 units each.
After a strong beginning of the year, overseas sales fell by almost 12% in the third quarter, while overall passenger vehicle sales increased by nearly 15%.
The results highlighted strong domestic growth but a weaker international performance, which has since stabilized in the final quarter.
Last month, Piper Sandler’s analyst Alexander Potter said in a research note that the company “now has business on six continents, in 110 different countries,” with an export volume up above 150% year over year.
Production
The company is also expanding its manufacturing footprint across the globe, with overseas factories in Thailand, Uzbekistan and Brazil expected to provide 300,000 units per year of combined capacity.
In Europe, BYD is nearly finishing construction of its factory in Hungary — where it has established its European headquarters earlier this year.
Its Executive VP Stella Li confirmed that production is scheduled to begin in the second quarter of 2026.
Piper Sandler noted that the company will additionally produce vehicles in Malaysia and Cambodia, and is “also targeting Japan,” where it unveiled its first market-specific vehicle, the kei car ‘Racco,’ in November.
In October, Reuters also reported that the brand was considering Spain for its third European factory, after Hungary and Turkey.
According to sources familiar with the matter, Spain was favoured due to its relatively low manufacturing costs and clean energy network.
A BYD Portugal executive recently revealed that Spain’s neighbor was also under consideration, for similar reasons.
Upcoming Models
BYD is expected to release several facelifts in 2026, including the Yuan Plus (‘Atto 3’ in Europe) SUV and the Dolphin compact.
In mid-December, the company announced the upcoming ‘Ocean Series’ flagship models — the Seal 08 sedan and the Sealion 08 SUV. They are expected to debut in the first quarter.
The SUV follows the fully electric Sealion 07, first launched in China in mid-2024 and exported to Europe (as the ‘Sealion 7’) later that year.
One year after its debut, BYD introduced the plug-in hybrid Sealion 7 DM‑i. In 2026, hybrid versions of the Sealion 5 and Seal 6 are also expected to be released.
In Europe, where a PHEV version of the Atto 2 (‘Yuan Up’ in China) debuted ahead of the domestic launch, plug-in hybrid models are exempt from the electric vehicle import duties introduced by the European Commission late last year.
Sub-brands
BYD operates multiple sub-brands targeting different market segments.
In July, the company announced that the luxury Yangwang brand will be expanding to Europe, becoming the first Chinese automaker to enter the top-tier luxury segment in the continent.
It also plans to launch the brand in the Middle East next year.
The launch timeline for Yangwang in Europe remains unclear, however, according to Executive VP Stella Li, BYD‘s Denza will be available in the Old Continent “early next year”.
The Denza brand entered Brazil in late November.
