finance
BYD Passenger EV Sales Decline for Eighth Month Amid Rising Competition
BYD reported a decline in passenger vehicle deliveries for the eighth consecutive month in April 2026, while rivals like Leapmotor and Zeekr achieved record highs. The company saw record exports, highlighting a shift toward overseas markets. Domestic competition intensified with strong performances from other Chinese EV makers.
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Chinese electric vehicle manufacturer BYD reported a decline in passenger vehicle sales for the eighth straight month in April 2026. The company delivered 314,100 new energy passenger vehicles, including battery electric and plug-in hybrid models, marking a 15.7% drop from April 2025 but a 6.2% increase from March 2026.
This trend reflects growing competition in the domestic market, where BYD's rivals posted higher delivery figures. Exports for BYD reached a record high of 135,098 units in April 2026, up more than 70% from the same period in 2025, according to a Hong Kong Stock Exchange filing and calculations.
This growth in overseas sales contrasts with the company's domestic performance, where it faces pressure from competitors. In the first quarter of 2026, BYD's profits fell 55.4% year over year, with operating revenue declining 11.8% to 150 billion yuan, or about $22 billion.
Leapmotor, backed by Stellantis, achieved its highest monthly deliveries ever with 71,387 units in April 2026, a 73.9% increase from April 2025. The company had previously set a monthly high in November 2025 and reported its first annual profit in 2025.
Similarly, Geely's premium EV brand Zeekr delivered 31,787 units, up 131.6% year over year, marking a new monthly record. Other Chinese EV makers also reported growth. Xiaomi delivered more than 30,000 EVs in April 2026, a 7.1% rise from the prior year, and received over 70,000 pre-orders for its upgraded SU7 sedan.
Nio delivered 29,356 EVs, including from its Onvo and Firefly brands, up 22.8% from April 2025. Li Auto's deliveries remained steady at 34,085 units, a 0.4% increase year over year. Xpeng, following the mid-April launch of its new GX SUV, reported 31,011 deliveries, down 11.5% from April 2025, making it one of the few alongside BYD to see a year-on-year decline.
