Overview

• Third‑quarter sales fell 2.1% year over year to 1.106 million vehicles, the first quarterly decline since early 2020, company data show.
• September deliveries fell by nearly 6% from a year earlier, marking the first monthly decrease of 2025, and BYD cut output by a further 8.47% at its major plants.
• BYD reduced its 2025 sales goal to about 4.6 million vehicles, a target confirmed by executive Li Yunfei after earlier reports of a cut.
• The company has warned that short‑term profitability is being pressured by steep discounting and what it called industry malpractices such as excessive marketing.
• Rivals including Leapmotor, Xpeng, Xiaomi and Nio logged record or sharply higher September deliveries, while BYD still captured more than 54% of China’s EV sales for the month.