Tesla Rival BYD's EV Sales Tumble 14% In July: Overall Deliveries Fall 10%, Marking 1st Decline In 6 Months

BYD Co. Ltd. BYDDY BYDDF recorded a decline in sales for the first time in over 6 months during July amid China's EV price war.

BYD Global Deliveries Slip 10%

BYD delivered 344,296 vehicles during July globally, a 10.1% decline from June, Investing.com reported on Sunday, citing data released by BYD.

BYD's Plug-In Hybrid (PHEV) deliveries also fell 22.6% YoY in July and continued a MoM decline, the report suggests. However, EV sales during the same period still grew.

The company delivered over 177,887 units, a 36.8% YoY growth. However, EV sales still fell short and slipped 14% compared to June.

BYD, Chinese EVs Capture EU Market

The news comes as BYD sales fell 8% domestically in June, despite the company being on track to hit its overseas sales targets. BYD is also set to launch its luxury-focused subsidiary, Yangwang, in Europe next year.

Speaking of which, Chinese companies like BYD hold more than 10% of the region's total EV market share, reaching a second-highest level of market share after June 2024's 11.1%.

Scrutiny From Authorities In China, Another Affordable EV

However, BYD has also been under scrutiny after the company was accused of allegedly inflating sales figures in China by insuring vehicles before they were delivered to customers to register them as sold amid rising competition in the country.

BYD also recently unveiled the $10,600 ‘Yuan Up Pilot’ EV, which is marketed as the BYD Atto 2 in overseas markets, with a claimed range of 187 miles on a single charge in the Chinese market.

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