In a landmark shift, BYD Co. Ltd. (OTC: BYDDY) reported sales of 2.26 million battery-electric vehicles in 2025, a 28% year-over-year increase that surpasses Tesla’s estimated 1.6 million deliveries for the same period. The figures, published in a statement to the Hong Kong Stock Exchange, mark the first time a Chinese auto manufacturer has claimed the top spot in global EV sales. This achievement caps BYD’s rapid ascent from selling 1.76 million EVs in 2024 to becoming the largest pure-electric carmaker by volume, putting pressure on Tesla’s market leadership and raising questions about the U.S. company’s growth trajectory in key markets.

For the full year 2025, BYD recorded cumulative sales of 4,602,436 New Energy Vehicles — comprising battery-electric, hybrid and plug-in hybrid models — representing a 7.7% increase over 2024. The company met its revised annual target of 4.6 million units after lowering the goal by 16% in response to intensified competition and softer domestic demand. Of the total, BEV sales alone reached 2,256,714 units, up 27.9%. Management highlighted that strong demand for the Dolphin, Seal and Han EV models helped offset pressure on margins from aggressive pricing strategies in China.

In December, BYD delivered 420,398 vehicles, down 18.3% year-over-year and 12.5% from November’s record 480,186 units. The month’s decline, driven by a sharp drop in domestic orders and an ongoing price war among Chinese automakers, contrasted with earlier months where BYD consistently topped monthly sales records. Despite the slowdown, the company emphasized that December results were factored into its full-year outlook and that inventory levels remained well within management’s target range.

Overseas deliveries surged 133% in December to 133,172 units, underpinning BYD’s strategy to diversify beyond China. European sales climbed 222% in November, driven by strong uptake of the Atto 3 and Tang models, while exports of Chinese EVs to Europe hit a record 12.8% market share. In December, Chinese automakers shipped 199,836 vehicles abroad, of which BYD accounted for the largest share. This international momentum supports BYD’s long-term plan to offset slowing domestic consumption and build a sustainable global footprint.