BYD Passenger EV Sales Decline for Eighth Month Amid Rising Competition

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.

BYD plans to export more than one million units in 2026 and has expanded its presence abroad. In 2025, the company accounted for at least 70% of EV sales in Mexico and 75% in Argentina, based on estimates from consultancy Latam Mobility. New registrations of BYD's passenger EVs in the European Union, European Free Trade Association, and U.K. rose more than 155% year over year in the first quarter of 2026, according to the European Automobile Manufacturers Association.

In April 2026, BYD sought admission into the European Automobile Manufacturers Association, as reported by Bloomberg citing a spokesperson from the group. The company has established manufacturing facilities in Brazil and Hungary, though these have faced controversies related to labor practices.

Other firms are also pursuing international growth; Leapmotor aims to expand in Europe and Latin America through its joint venture with Stellantis, targeting 100,000 to 150,000 exports. Li Auto announced its entry into the Middle East in April 2026, signing agreements with distributors in Saudi Arabia and the United Arab Emirates, and plans to expand into Cambodia, Laos, Macau, and Myanmar.