BYD’s vehicle production fell by 0.9% in July compared to the same month in 2024, ending a 16-month growth streak that propelled the Chinese automaker to become the largest electric vehicle manufacturer in the world.
In July, BYD produced 317,892 electric and plug-in hybrid vehicles globally, a decrease of 0.9%, while sales rose by 0.6% to 344,296 vehicles, which represents a decline compared to the 12% increase seen in June, according to “Reuters,” which cites the monthly record on the Hong Kong stock exchange.
The last decline in the company’s production was in February 2024, in line with the drop observed across the sector due to the timing of the Lunar New Year holiday in China, which occurred in February compared to January of the previous year. Sales also decreased in February 2024.
BYD, Tesla’s largest Chinese rival, saw its production and sales reach record levels in the fourth quarter of 2024 before showing a downward trend this year.
With sales of fully electric cars representing 41% of the more than 4 million vehicles sold last year, BYD surpassed Tesla in the number of 100% electric vehicles sold globally.
