- BYD’s China sales have tumbled 36 percent in 2026.
- About half of BYD vehicles this year were exported.
- Geely sold 76,000 more vehicles than BYD in China.
For much of the past three years, it has often seemed as though BYD could do no wrong. The company steadily launched new models, expanded its lineup, and watched its sales climb at an impressive pace. However, the start of 2026 has been alarmingly slower, allowing fellow Chinese automaker Geely to pull ahead.
Through the first two months of this year, BYD has sold 400,241 vehicles, down 36 percent from the year prior. Of these, 190,190 vehicles were sold in February, a drop of 9.5 percent from the past month, due in large part to the Lunar New Year holiday, but it was also a 41 percent drop compared to the same month last year.
Apparently, shrinking tax breaks and a dip in buyer confidence are starting to cool the market. Plenty of shoppers are opting to wait it out, holding off to see what new models land and whether government trade in schemes become clearer before committing their cash.
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While BYD is facing some struggles at home, it continues to gain popularity in foreign markets. In February alone, it exported 100,600 of its new energy vehicles, consisting of EVs and plug-in hybrids. Include January in those figures, and BYD has exported 201,082 vehicles.
Competitors Step Up
While BYD is facing growing pains, several other Chinese automakers are enjoying the opposite problem. Through the first two months of 2026, Stellantis partner Leapmotor’s sales have climbed 19 percent to 60,126 units. Xiaomi’s EV division is up 48 percent year over year to more than 59,000 units. Zeekr has posted an 84 percent surge across January and February, while Nio deliveries have jumped 77 percent, according to CNBC.
Geely is also having a particularly strong run. So far this year, it has delivered roughly 76,000 more vehicles than BYD. That is notable because it marks the first time Geely has outsold BYD for at least two consecutive months since 2022. While Geely currently leads within China, it trails slightly in overseas markets, exporting 181,891 vehicles so far this year.
According to Bloomberg, BYD chief executive Wang Chuanfu acknowledged the growing pressure back in December. He said rival automakers had begun closing the technological gap that once gave BYD a clear edge, something that now appears to be showing up in the sales figures.
