BEIJING, July 1 (Reuters) – Chinese electric vehicle maker BYD posted a second consecutive month of global sales growth in June, as a surge in exports helped offset weak demand in its home market.
Total sales rose 5.5% from a year earlier to 403,472 vehicles last month, according to Reuters calculations based on a stock exchange filing on Wednesday. That followed a 0.3% increase in May, which ended an eight-month run of declines.
By comparison, BYD’s fastest-growing rival, Leapmotor, reported a 95% year-on-year increase in June sales to 93,376 electrified vehicles.
BYD’s overseas sales jumped 94.7% from June 2025 to 175,349 vehicles, helping cushion weakness in China, where sales fell 22%, extending a run of year-on-year declines that began in May 2025.
WEAK CHINESE MARKET
The biggest Chinese rival to Tesla is nearing a decision on its second European plant after Hungary, a senior adviser to the company’s European operations said on Wednesday.
At BYD’s annual shareholder meeting in Shenzhen last month, Chairman Wang Chuanfu outlined a goal for the company to become the world’s largest automaker within five years, seeking to reassure investors after a sharp fall in its share price.
Wang pointed to strong export growth and technological advances, including battery upgrades and fast-charging capabilities, as key drivers of that ambition.
BYD is not alone in suffering a share price decline. EV makers including Leapmotor, Li Auto and Xiaomi have also come under pressure amid intensifying price competition and a weakening demand outlook.
Domestic sales have been weighed by fading policy support following subsidy cuts, a prolonged property market slump that has hurt household wealth and confidence, and elevated dealer inventories.
Car sales in China, the world’s largest auto market, are forecast to fall 11% this year, a sharp downgrade from a previously estimated 1% decline, according to the China Passenger Car Association.
(Reporting by Qiaoyi Li, Zhang Yan and Ju-min Park. Editing by Andrew Heavens and Mark Potter)
Comments