BYD has slashed its sales target for this year by as much as 16% to 4.6 million vehicles, two people with knowledge of the matter said.
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Chinese electric carmaker BYD sold 11,271 cars in the U.K. last month, the company said on Monday, representing year-on-year growth of 880%.
The sales bring its yearly total to just over 35,000 in the country, the company said on Monday – making the U.K. its largest market outside of China. Its market share sits at 2.2% year-to-date.
The firm, which had its start as a mobile phone manufacturer, is known for its more affordable prices when compared to other EV makers.
Prices of the BYD Dolphin start at just over £26,000 ($34,913) in the U.K., compared to Tesla’s Model 3 which costs around £40,000 — although it has plans for a more affordable model.
BYD’s hybrid SEAL U DM-i and electric SEALION 7 proved popular among U.K. consumers and dominated sales, the company said. It also opened a battery facility in the U.K. last month, where it services electric buses.
EV sale boost
The U.K. enjoyed buoyant electric car sales in September following the reintroduction of an electric car grant in July, designed to make EVs cheaper for consumers, although it excluded Chinese EVs.
Battery electric vehicle sales were up 29.1% to 72,779 year-on-year, according to lobby group the Society of Motor Manufacturers and Traders.
BYD has also seen success in Europe, where sales were up over 200% year-on-year as of August, surpassing competitor Tesla, which slumped over 36%, according to European lobby group ACEA.
More broadly, however, the company last week noted its first year-on-year decline in deliveries in 2025 as it saw a drop of almost 6%, though its domestic market share remains strong.
BYD’s stock price fell 1.3% in Hong Kong on Monday.