BYD sales fell by their biggest amount in five years in February as the Tesla rival’s pivot to export markets failed to offset slowing growth at home.
The world’s biggest electric vehicle maker reported February sales dropped 41 per cent year on year to 190,190. The decline was driven by a 65 per cent drop in domestic sales and came despite export sales surging 50 per cent.
The February sales data, which was released by the company on Sunday evening, marked the sixth straight month of declines for BYD. The slump has highlighted the need for Chinese carmakers to increase sales abroad as EV growth moderates in China following years of rapid expansion.
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