BYD Sales Slump Sparks Market Share Concerns Amid EV Competition

BYD's stock plunged to its lowest level since February after reporting a 12% year-on-year sales decline in October, marking its second consecutive month losing China's top auto brand crown to SAIC Motor. The automaker shipped 453,978 vehicles last month as regulatory crackdowns on aggressive price discounts crippled its volume-driven strategy.

With quarterly profits shrinking for the second straight quarter, BYD now faces mounting pressure to clear inventory and defend market share. Despite October being its strongest sales month this year, the company must deliver nearly 900,000 combined vehicles in November and December to meet analysts' 4.6 million annual shipment target. "The final two months will determine whether they hit the mark or fall short. There is not much margin," cautioned a Shanghai-based auto analyst.

While BYD struggles, rivals are accelerating. Geely, Nio, Xpeng, and Leapmotor all posted record October shipments. New entrant Xiaomi also reported robust results, intensifying competition in China's cutthroat EV market.