BYD's sales dropped 30% in January 2026 due to weak demand and rising competition, prompting a lower export target.

BYD's January 2026 vehicle sales fell 30.1% year-on-year, marking five straight months of declines amid rising domestic competition and weakening demand, especially for its plug-in hybrids. The company sold 210,051 vehicles globally, including 100,482 new energy vehicles exported, with production down 29.1%. Despite launching upgraded hybrid models and expanding globally with new plants in Hungary, Brazil, and Thailand, BYD revised its 2026 export target to 1.3 million vehicles, below its earlier goal. China’s auto market is expected to stagnate in 2026 due to reduced government subsidies for budget EVs, impacting BYD and other low-cost manufacturers.