Overview

• BYD delivered a record 382,476 vehicles in May, including 89,047 overseas units, up 137.5% year-on-year.
• Year-on-year sales growth slowed to 15%, marking its weakest monthly pace since August 2020.
• The company cut prices by up to 34% across 22 models in late May, triggering rivals’ discounts and intensifying China’s EV price war.
• China’s Ministry of Industry and Information Technology has opened inquiries into aggressive discounting to address unhealthy competition.
• BYD has a 2025 sales target of 5.5 million vehicles and is expanding abroad with the Dolphin Surf launch in Europe and factories in Hungary and Brazil.