BYD Shares Drop as EV Giant Cuts 2025 Sales Outlook by 16%
Shares of BYD (SZ:002594) (HK:1211) fell on Thursday after a Reuters report revealed that the Chinese electric vehicle leader had lowered its 2025 sales forecast by at least 16%. The move raised fresh concerns that the company’s rapid growth streak may be slowing.
BYD’s shares in both Shenzhen and Hong Kong declined more than 2% each. Broader indexes also weakened, with the Shanghai Shenzhen CSI 300 falling 2.1% and the Hang Seng Index down 1%.
According to Reuters, BYD now expects to sell around 4.6 million vehicles in 2025, down from its earlier projection of 5.5 million units. The 5.5 million target had already been revised down internally several times, with the updated figure shared among company insiders and select suppliers.
The reduced outlook highlights the challenges facing BYD as it competes aggressively with rival Tesla (NASDAQ: TSLA) and a growing number of Chinese EV makers. Fierce competition in the domestic market has put pressure on margins, while the company recently reported a 30% decline in quarterly profit.
