Facing NEV Slowdown, BYD Slashes 2025 Global Sales Target by Nearly 1 Million Units
On December 5, 2025, BYD addressed shareholders at its second extraordinary general meeting (EGM) regarding a domestic sales slowdown for its new-energy vehicles (NEVs). Despite reporting its highest monthly sales of the year in November, with 480,186 NEVs sold, this figure represented a 5.25% year-on-year decline, marking the third consecutive month of contraction. Furthermore, the company faced intensifying competition, highlighted by SAIC Motor temporarily surpassing BYD in monthly sales back in September. In response to these shifting market conditions, BYD announced a revision to its 2025 global sales target, lowering the goal from 5.5 million vehicles to approximately 4.6 million units, although year-to-date deliveries through November still reflected overall growth of 11.3% compared to 2024, reaching 4,182,038 units.
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During the EGM, Chairman and President Wang Chuanfu attributed the sales dip to several factors, including the regular cyclical nature of product and technology development, a diminished impact of the company’s technical leadership, and broader homogenization across the NEV industry. He also acknowledged persistent consumer pain points, specifically citing slower charging speeds in low temperatures as a key concern needing immediate technological focus. Wang further admitted that previous reliance on favorable market conditions had inadvertently created complacency within BYD’s marketing and support functions, signaling a need for a comprehensive internal overhaul to better translate the company’s technical strengths into market success.
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Looking forward, Wang emphasized that the company’s core confidence resides in its technical capabilities, which are backed by an immense workforce of approximately 120,000 engineers. To restore its competitive advantage, BYD plans to intensify investment over the next two to three years in both vehicle electrification and the next phase of intelligent automotive technologies, with Wang promising the near-future release of “heavyweight” new technologies. The company’s overall strategy focuses on reviving technical leadership, enhancing charging performance, reinforcing its market-facing operations, and continuing the priority expansion of overseas sales to secure future competitiveness and scale.
