BYD is aiming to increase its overseas vehicle sales to 1.5 million units by 2026, as the company accelerates its global expansion to support growth beyond its domestic market.
The target was discussed during a recent analyst briefing, where management expressed confidence in reaching the export figure, according to a report by Bloomberg citing people familiar with the matter. The updated goal is around 15% higher than the company’s previously announced overseas sales target.
Earlier this year, BYD said it expected exports to reach 1.3 million vehicles in 2026, representing year-on-year growth of approximately 24%. However, a November 2025 research note by Citi, citing company management, had already indicated a higher guidance range of 1.5 million to 1.6 million units.
BYD’s overseas business has grown rapidly in recent years. The automaker exported 1,046,083 new energy vehicles (NEVs) in 2025, including both passenger and commercial models, marking a 150.74% increase compared with the previous year.
The company’s export performance was supported by a geographically diversified sales structure. Europe, North America, and Southeast Asia each contributed roughly one-third of BYD’s total overseas sales in 2025, reflecting a balanced expansion strategy across key global markets.
Overall, BYD reported total NEV sales of 4,602,436 units for 2025. Passenger battery electric vehicle (BEV) sales reached a record 2,256,714 units, underscoring strong demand for its fully electric lineup.
Domestic Pressure and Long-Term Global Strategy
Despite strong sales momentum, BYD recently reported a decline in profitability as competition intensified in China’s electric vehicle market. The company posted a full-year 2025 net profit of 32.62 billion yuan ($4.72 billion), down 19% from a year earlier and below analyst expectations, according to its annual financial report.
BYD said the domestic NEV market “remains highly competitive,” with ongoing price wars continuing to weigh on margins.
Against this backdrop, the automaker is pursuing an ambitious long-term strategy to expand internationally. In May 2025, BYD outlined plans to sell half of its vehicles outside China by 2030, a target communicated privately to investors in recent months. The goal would mark a significant shift from its current sales mix and could position the company among the world’s largest automakers by volume.