Chinese new energy vehicles (NEVs) giant BYD saw its sales figures in July flatten out compared to the same month last year. While the company’s overall sales of 344,296 vehicles were up slightly by 0.56% year-over-year, they dropped by 10.01% from June.
This trend was largely driven by a continued slump in plug-in hybrid electric vehicle (PHEV) sales.
Since ending production of traditional gasoline-powered cars in March 2022 to focus on its all-electric and hybrid lineup, BYD has seen its sales strategy shift dramatically. However, the latest data shows some mixed results.
Passenger NEVs accounted for the vast majority of July’s sales at 341,030 units. This segment saw a minimal year-over-year increase of 0.07% but a nearly 10% drop from June.
– Battery Electric Vehicles (BEVs): A bright spot for the company was the strong performance of its pure electric vehicles. BEV sales surged by 36.84% year-on-year, reaching 177,887 units. Despite this strong annual growth, it’s worth noting that this marks the first month-over-month decline in passenger BEV sales since February.
– Plug-in Hybrid Electric Vehicles (PHEVs): This is where the slowdown is most apparent. BYD sold 163,143 passenger PHEVs, a significant decrease of 22.61% from the previous year and a drop of 4.45% from June. This represents the fourth consecutive month of declining PHEV sales and the fourth month in a row that BEV sales have outpaced PHEV sales.
– Commercial NEVs told a different story, with sales more than doubling to 3,266 units compared to last year. However, this segment also experienced a sharp monthly decline of 34.11%.
– Overseas sales continued their upward trajectory, growing an impressive 169% year-on-year to 80,737 vehicles. Yet, this segment also saw a monthly dip of 10.34%.
A Broader Perspective: The Year So Far
Despite the slower July, BYD’s year-to-date performance remains robust. From January to July, the company sold 2,490,250 NEVs, a solid 27.35% increase compared to the same period in 2024.
- Total Passenger NEVs: 2,454,301 units, up 25.99%.
- Total Commercial NEVs: 35,949 units, a massive increase of 384.36%.
- Total Overseas Sales: 545,003 units, up 133.49%.
- BEV vs. PHEV: Year-to-date, PHEV sales still hold a slight lead over BEVs (1,253,033 vs. 1,201,268), though the gap is narrowing rapidly.
While July’s numbers show some deceleration, the overall trend for BYD in 2025 remains one of strong growth, particularly in its battery electric and international markets.
