BYD sales rise for the sixth consecutive month; over 490,000 vehicles sold in October

Chinese electric vehicle (EV) manufacturer BYD continued to see sales growth in October. Driven by rising demand in overseas markets, the company has recorded a year-on-year increase in sales for the sixth consecutive month.

Sales rose by 11% in October

According to a report by the news agency Reuters—based on data released by the company on Sunday—BYD sold a total of 490,168 vehicles in October 2024.

This figure represents an 11% increase compared to October of the previous year; however, the pace of growth was slower than in September, when the company recorded a 17% year-on-year increase in sales.

102.8% surge in overseas sales

Overseas markets played a significant role in driving BYD’s overall sales. During October, the company sold 170,194 vehicles abroad—a 102.8% increase compared to the same month last year.

These figures indicate a substantial rise in demand for the company’s vehicles abroad, alongside a steadily growing presence in the global market.

Demand pressure in China’s domestic market

Meanwhile, China’s electric vehicle industry is facing weak domestic demand. Analysts note that the race among Chinese companies to expand into overseas markets has intensified global competition, while a decline in local sales is placing additional pressure on these firms. A sharper-than-expected decline has been recorded in the local market for Chinese vehicles this year; however, a modest recovery in this sector is anticipated by 2027.