A report published by Electric Cars Report has revealed a sharp slowdown for BYD at the start of the year, despite the company’s ongoing global electric vehicle expansion. According to the article, BYD sold 210,051 new energy vehicles (NEVs) in January, marking a 30.11% year-on-year decline and a 50.04% drop compared with December.
The downturn was seen across BYD’s core passenger vehicle ranges. The article states that 83,249 battery electric vehicles (BEVs) were sold during the month, representing a 33.60% year-on-year fall and a 56.35% month-on-month decline. Plug-in hybrid electric vehicle (PHEV) sales also continued to struggle, with 122,269 units sold, down 28.53% year-on-year and 45.43% compared with December. The report notes that this is the 10th consecutive month of year-on-year decline for BYD’s PHEV segment.
BYD’s commercial NEV division was the only area to show annual growth. Sales reached 4,533 units, up 10.78% year-on-year, although even this segment experienced a 19.26% drop month-on-month, indicating softer momentum across the business overall.
DM News Commentary
These figures show that even the biggest names in the EV world are not immune to market slowdowns. A 50% month-on-month drop for a manufacturer the size of BYD is significant and suggests that demand volatility remains a real issue, not just for smaller or emerging brands.
For the taxi and private hire sector, this could have knock-on effects later in the year. Slower sales often lead to stronger incentives, sharper pricing, and renewed pushes into fleet and commercial markets — areas where BYD has already been trying to gain ground. If manufacturers feel pressure, operators and drivers may eventually benefit from better deals on electric vehicles.
The continued decline in PHEV sales is also worth watching. Plug-in hybrids have been a popular transition option for drivers unsure about going fully electric, but the numbers suggest that confidence in that segment may be fading as the market matures.
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