BYD’s sales rise for second month, buoyed by exports

[BEIJING] Chinese electric vehicle maker BYD posted a second consecutive month of global sales growth in June, as a surge in exports helped offset weak demand in its home market.

Total sales rose 5.5 per cent from a year earlier to 403,472 vehicles last month, according to Reuters calculations based on a stock exchange filing on Wednesday (Jul 1). That followed a 0.3 per cent increase in May, which ended an eight-month run of declines.

By comparison, BYD’s fastest-growing rival, Leapmotor, reported a 95 per cent year-on-year increase in June sales to 93,376 electrified vehicles.

BYD’s overseas sales jumped 94.7 per cent from June 2025 to 175,349 vehicles, helping cushion weakness in China, where sales fell 22 per cent, extending a run of year-on-year declines that began in May 2025.

Weak Chinese market

The biggest Chinese rival to Tesla is nearing a decision on its second European plant after Hungary, a senior adviser to the company’s European operations said on Wednesday.

At BYD’s annual shareholder meeting in Shenzhen last month, Chairman Wang Chuanfu outlined a goal for the company to become the world’s largest automaker within five years, seeking to reassure investors after a sharp fall in its share price.

Wang pointed to strong export growth and technological advances, including battery upgrades and fast-charging capabilities, as key drivers of that ambition.

BYD is not alone in suffering a share price decline. EV makers including Leapmotor, Li Auto and Xiaomi have also come under pressure amid intensifying price competition and a weakening demand outlook.

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Domestic sales have been weighed by fading policy support following subsidy cuts, a prolonged property market slump that has hurt household wealth and confidence, and elevated dealer inventories.

Car sales in China, the world’s largest auto market, are forecast to fall 11 per cent this year, a sharp downgrade from a previously estimated 1 per cent decline, according to the China Passenger Car Association. REUTERS