Pursue your dreams… outside of China.
Beyond Your Dreams are the words hidden behind the acronym BYD. The acronym of the company that sold the most electric cars in the world in 2025. A company that seemed to have meteoric progress but that has stagnated with a local market that is slowing down at a dizzying pace. So much so that it has already sold more cars outside of China than inside. A well-thought-out strategy that arrives ahead of time.
A milestone?. The month of February was the first in which BYD has sold more vehicles outside China than in its own market. It is a conditional milestone, since sales in China of the entire market have plummeted and, of course, have hit the country’s largest car manufacturer hard.
A general trend. Although in 2025 car sales in China once again set a record with 34.4 million cars sold (a growth of 9.4%, according to the Chinese Association of Automobile Manufacturers) in figures collected by the media 36krthe market has been experiencing a slowdown for months.
In February, car sales in the country fell 15% compared to the same month in 2025, they point out in Reuters. But the problem is worse among individuals, where sales have fallen by 34% as a result of the Chinese New Year festivities and the withdrawal of some purchasing aid.
The latter has had a direct impact on sales of “new energy” cars (plug-in hybrids and electric). According to data collected by CNEVPostIn January, 596,000 cars of this type were purchased, compared to 744,052 units in the same month of 2025. A drop of 22.1% that worsened in February, with 464,000 units sold compared to 686,000 units the previous year. It is a year-on-year drop of 32%.
The BYD case. This general decline in sales, with more worrying figures among new energy vehicles, has had a direct impact on BYD. Last January, BYD sold 210,051 new energy cars when in the same period of 2025 it placed 300,538 units on the market. In February, the figures were worse with 190,190 units sold compared to last year’s 322,846 units, reported in CNEVPost.
That is, so far this year, its sales have fallen by 30% in January and 41% in February, extending a trend of low sales that has been going on since September of last year. BYD sales have not grown in China since June 2025. In July and August they achieved a technical tie in the year-on-year comparison but, since then, they have lost in all one-year comparisons.
These falls have caused Geely to surpass BYD in sales in the first two months of the year. Between January and February, Geely has sold 476,327 units, just 1% more than in the same period of the previous year. There are just over 76,000 units than BYD (400,241 vehicles between January and February) thanks to a larger product portfolio and less dependence on “new energy” vehicles. This has avoided a fall due to the withdrawal of state aid, they state in SCMP.
More outside than inside. As we said, BYD’s sales have plummeted in China but its exports have skyrocketed abroad. This has meant that the company has sold, for the first time, more cars outside its borders than within its borders, they point out in Electrive. Two factors explain it
- 41% decrease in sales in China compared to February 2025
- Increase in exports of 50.1% compared to February 2025
The company has managed to consolidate sustained growth in its exports. They point out in CarNewsChina which with February now adds up to four consecutive months exporting more than 100,000 units. This has caused them to place outside their borders this month 100,600 units of the 190,190 units which have sold all over the world. That is, more than 50% of its sales have been delivered outside of China.
a mirror. BYD has become the best example of what the Chinese market is all about. The country lives in a whirlwind of launches and a suffocating price war. BYD itself, with its new launches at ultra-competitive prices, has caused their own cars become obsolete with months on the market, gathering dust in dealerships.
The rest of the companies have also played to lower prices to keep up the pace and release news at a frenetic pace, but that produces some anxiety in the client that sees how what is new today can be left behind very soon. Bad news in a country like China that has been trying for years to promote domestic consumption to put its economy into higher gear.
But, in addition, the State has withdrawn some aid to the purchase of electric cars, the most important column in the industry. This has its consequences in the drop in sales among individuals.
Before time. That BYD intended to expand outside China was no secret. In fact, his plans happened because half of global sales will be consolidated outside of China in 2030. The expansion plan with the factory Hungarythat of Türkiye and, it is rumored, another in Europe is part of it, without forgetting the Thailand and Brazil.
The question is to know if this surprise of sales abroad has arrived too soon and the only thing it confirms is the slowdown that the brand will have to deal with in China. If you want to consolidate yourself as one of the largest global manufacturers (there was talk of reaching 5.5 million units in 2025 but finally they stayed below the 5 million border) it is essential that they expand borders and not depend solely on the internal market.
European manufacturers can give BYD some examples of what happens if you base the bulk of your strategy on selling in China.
Photo | BYD
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