BYD October Sales Rise 11 Percent Amid Domestic Slump
BYD recorded its sixth straight month of sales growth in October, leveraging a surge in overseas shipments to offset sluggish demand within China.
Chinese electric vehicle manufacturer BYD reported total vehicle sales of 490,168 units in October, marking an 11 percent year-on-year increase and its sixth consecutive month of growth. The company relied heavily on international expansion to counter aggressive price competition and a steeper-than-expected downturn in the Chinese domestic car market.
Overseas shipments surged 102.8 percent to 170,194 units, providing a critical buffer against domestic weakness. Despite the increase in sales volume, the company's third-quarter profit growth slowed to 28 percent year-on-year, a figure that missed analyst forecasts.
BYD now faces potential headwinds in the European Union, where a pending China-EU deal may introduce new curbs on hybrid vehicle imports. While the domestic market in China remains sluggish, projections suggest a modest recovery for the industry by 2027.
