BYD Likely Overtook Tesla as 2025 EV Sales Leader With 4.6 Million Deliveries

Overview

• BYD reported 4.6 million vehicle deliveries in 2025, up 7.7%, meeting a full-year target that had been cut by 16%.
• Battery‑electric deliveries topped 2.25 million, positioning BYD to surpass Tesla, which analysts estimate sold about 1.65 million BEVs in 2025 pending final disclosure.
• December sales fell 18% year over year and the company logged two straight quarters of steep profit declines as China curbed aggressive discounting.
• Overseas deliveries reached about 1.05 million in 2025, with a 2026 international sales goal of 1.5–1.6 million reported by Citigroup after meetings with management.
• Chairman Wang Chuanfu acknowledged a diminished tech lead and pledged advances, while analysts see potential 2026 sales near 5.3 million supported by new models and a planned platform.