BYD October Sales Reach 490,168 Vehicles as Exports Jump 102.84%
Key Facts
BYD sold about 490,168 new energy vehicles in October 2026, up 10.97% year on year and 5.74% from September, according to CnEVPost. But annual growth slowed from 17% in the previous month, Reuters reported, despite an increase in total sales month on month. The figures highlight a divergence in the company's performance: strong expansion in overseas shipments alongside continued declines in sales in the Chinese market compared with a year earlier. The two passenger-vehicle categories also performed differently; all-electric vehicles recorded strong growth, while plug-in hybrids continued to decline. The results follow a third quarter in which profits rose, but growth was slower than before and fell short of analysts' expectations.
Exports were the main growth driver in October, with BYD shipping 170,194 new energy vehicles overseas, up 102.84% from the same month last year. The figure was down 5.81% from September, however, pointing to a monthly decline after the previous month's level alongside strong annual growth. Reuters said the company had relied on overseas markets to counter weak domestic demand and intense price competition in China. In September, overseas shipments of passenger cars and pickup trucks rose 153.9% year on year to 179,877 vehicles, according to Reuters via Investing.com. The comparison between the two months underscores the continued importance of overseas markets to the company's sales, while the sources reported different measures for September and October shipments.
In the passenger-vehicle mix, all-electric vehicles totaled 305,743 units in October, up 37.38% year on year and 11.94% from September. The category set a monthly record for the third consecutive month, according to CnEVPost, leading the growth in the company's monthly sales. By contrast, plug-in hybrid sales totaled 177,382 units, down 17.23% year on year and 3.37% month on month. October was the second consecutive month in which hybrids posted an annual decline. The divergence between the two categories shows that October's increase in total sales came as all-electric vehicles advanced and hybrids declined, with the data offering no separate explanation for the difference.
In China, the company sold 319,974 vehicles in October, down 10.57% from a year earlier but up 13.12% from September. The monthly increase is consistent with BYD's rise in total sales from the previous month, while the annual domestic decline contrasts with the sharp increase in exports. Reuters had noted the company's reliance on overseas markets to contend with weak demand and price competition at home. For the broader market, Reuters forecast a modest recovery in China's auto market in 2027 after a sharper-than-expected contraction in 2026. This places the domestic demand trajectory in the background of the monthly figures, while the market forecast remains broad and does not apply to BYD sales alone.
Cumulatively, BYD sold about 3,621,744 new energy vehicles in the first ten months of 2026, down 2.16% from the same period last year. The cumulative decline through the first nine months had been larger, at 3.94%, meaning the year-on-year gap narrowed with the addition of October sales. In its third-quarter results, profit growth slowed to 28% year on year and fell short of analysts' expectations, Reuters reported, amid weak domestic demand and intensifying competition as the sector turned toward exports. Quarterly revenue rose 13.6% year on year to 221.5 billion yuan, following a 3% decline in the second quarter, ending a four-quarter losing streak. After the results were released following the previous Hong Kong session's close, BYD shares fell as much as 2.4% to 67.0 Hong Kong dollars on October 30, amid investor disappointment over the profit recovery.