Overseas shipments emerge as the growth driver
The international expansion of BYD remained the biggest contributor to its October performance. Overseas shipments increased 102.8% year-on-year to 170,194 vehicles. These shipments accounted for approximately 34.7% of its total October sales.
Between January and October 2026, BYD exported 1,513,154 NEVs. With exports up 93.75%, the company nearly doubled its shipments compared with the same period last year.
Domestic sales declined 10.57% year-on-year to 319,974 vehicles in October. Cumulative domestic sales during the first ten months stood at 2,108,590 units, down 27.81% from a year earlier.
The figures underline how international markets are helping BYD offset slowing demand in China.
Battery-electric models gain market share
The sales mix also showed a growing preference for fully electric vehicles. BYD sold 305,743 battery-electric passenger vehicles in October, up 37.38% year-on-year. This was a record for the third consecutive month and the first time monthly sales crossed 300,000 units.
Battery-electric models accounted for 63.28% of passenger vehicle sales, compared with 50.95% in October 2025. Meanwhile, plug-in hybrid passenger vehicle sales declined 17.23% to 177,382 units.
Although sales improved in October, BYD's total NEV sales for January-October reached 3,621,744 units, marking a 2.16% year-on-year decline. This was a smaller drop than the 3.94% fall reported for the January-September period.
Profit growth and overseas expansion remain in focus
BYD's growing reliance on overseas markets comes at a time when its financial performance is facing some pressure. The company posted a 28% annual increase in third-quarter net profit to 10.02 billion yuan, while revenue climbed 14% to 221.49 billion yuan. However, both figures fell short of market estimates.
Expanding into international markets may not be simple either. BYD's plug-in hybrid exports to the European Union (EU) could come under greater scrutiny as China and the EU consider an arrangement to regulate hybrid vehicle imports. Any additional trade restrictions could affect the company's plans for the region.