Overview

• BYD shares fell about 5% in September, with a separate 3.6% drop in Hong Kong after confirmation that Berkshire Hathaway fully exited its stake on September 22.
• Since entering Japan in 2023, BYD has sold about 5,300 vehicles through June 2025 despite opening 45 dealerships and launching four models.
• BYD is offering discounts of up to ¥1 million on select models and, combined with subsidies, total cuts can reach roughly 50%, with the Atto 3 listed at around ¥4.18 million.
• Analysts warn the heavy discounting could depress resale values and frustrate early buyers, a risky move in a market where steep sticker-price cuts are uncommon.
• Japan’s fully electric cars account for about 3.4% of new sales, and BYD is targeting broader overseas growth in 2025 while planning an electric kei car launch in late 2026 for Japan.