BYD Recasts Targets Down by 16%, Stocks Drop 8% - CleanTechnica

Chinese electric vehicle manufacturer BYD has lowered its 2025 sales revenue target by 16%, from RMB39,300 million ($5.5 million) to RMB32,850 million ($4.6 million), reflecting a significant slowdown in growth. This revision comes amid flattening sales in its key domestic market, which accounts for nearly 80% of BYD’s sales, and intensified competition from rivals such as SAIC and Geely Auto. The company’s shares dropped nearly 8% on the Hong Kong stock exchange following the announcement. BYD has only achieved 52% of its original sales target, and it recently reported a 30% decline in quarterly profit, marking its first profit drop in over three years. Domestic sales have contracted for two consecutive months, a trend not seen since 2020, while production levels remain steady. The slowdown is attributed to a combination of fierce domestic competition, price wars, and broader deflationary pressures in the Chinese economy, exacerbated by a