BYD’s November Sales Slip 5% As Plug-In Hybrid Demand Plunge — But A Massive 4x Export Surge Signals Its Global Push

• According to the automaker, its Dynasty and Ocean mass-market product lines accounted for a whopping majority of its passenger vehicle sales in the month with 423,558 units sold.
• While sales of the company’s battery electric passenger vehicles rose a whopping 20% to 237,540 units, sales of plug-in hybrid passenger vehicles dived a deeper 22%. 
• The company, however, ramped up its export volume last month to 131,935 units from 30,977 units in November 2024.

Chinese EV giant BYD (BYDDY, BYDDF) witnessed sales drop over 5% year-on-year in November as demand for its plug-in hybrid electric vehicles took a dive.

The company sold 480,186 new energy vehicles in November, down from 506,804 in the corresponding month of 2024. While sales of the company’s battery electric passenger vehicles rose a whopping 20% to 237,540 units, sales of plug-in hybrid passenger vehicles dived a deeper 22%.

According to the automaker, its Dynasty and Ocean mass-market product lines accounted for a whopping majority of its passenger vehicle sales in the month with 423,558 units sold. The company also sold 703 units of its premium electric brand Yangwang.

Export Increase  

The company, however, ramped up its export volume last month to 131,935 units from 30,977 units in November 2024 as intense competition continues within its home ground. Last month, Reuters reported that BYD is planning to sell up to 1.6 million vehicles outside of China next year, up from the 900,000- 1 million vehicles expected this year.

For 2025, the company aims to deliver a total of 4.6 million vehicles, up from the 4.27 million sold in 2024. As of the end of November, the company had already sold 4.18 million vehicles, comprising both passenger and commercial vehicles.

BYD is China’s largest EV maker. The company stopped making purely internal combustion engine vehicles in March 2022 and, since then, has made “new energy vehicles,” a wider term that encompasses both battery electric vehicles and plug-in hybrids.

Hong Kong-listed shares of the company closed marginally in the green on Monday.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around BYDDF fell from ‘extremely bullish’ to ‘bullish’ territory over the past 24 hours, while message volume jumped from ‘high’ to ‘extremely high’ levels. 

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