BYD posted a sixth straight month of sales growth in October, with vehicle sales up 11% from a year earlier to 490,168 units, according to a Reuters report dated November 1. Overseas shipments rose 102.8% to 170,194 units, per Reuters calculations based on a company disclosure.
BYD's 170,194 overseas shipments in October, more than double the year-earlier figure, show exports carrying its growth as domestic demand stays weak. The report says BYD could face new curbs under a China-EU deal on hybrid imports.
Chinese electric vehicle maker BYD posted a sixth straight month of sales growth in October, relying on overseas markets to offset weak demand and price competition at home, according to a Reuters report dated November 1.
Vehicle sales rose 11% from a year earlier to 490,168 units, cooling from a 17% gain in September, Reuters reported. Overseas shipments rose 102.8% year on year to 170,194 units, according to Reuters calculations based on a company disclosure on Sunday.
BYD's third-quarter profit growth slowed to 28% year on year and missed forecasts, as an industry-wide push into export markets intensified competition amid weak demand at home, the report said. BYD, among the top exporters of hybrid vehicles to the EU, could face new curbs under a China-EU deal aimed at reining in hybrid imports in Europe, according to the report.
China's domestic car market is set to stage a modest recovery in 2027 after a steeper-than-expected downturn this year, the report said.
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