Shares of BYD gained on Monday after the Chinese electric vehicle maker reported strong July sales. Robust international demand continued to offset weaker conditions in its domestic market.
BYD Shares Reach Two-Month High
BYD’s Hong Kong-listed shares rose 0.8% to HK$94.90, their highest level since June 3. The stock also outperformed the wider Hang Seng Index.
Meanwhile, several of BYD’s Chinese EV rivals moved lower. XPeng shares fell 3%, while Li Auto declined 1.8% and Nio dropped 1.4%.
July Sales Continue to Grow
BYD sold 419,211 new energy vehicles worldwide in July. This represented a 21.8% increase compared with the same month last year.
The result also marked the company’s third consecutive month of annual sales growth, highlighting its continued momentum across global markets.
Overseas Demand Drives BYD’s Growth
International passenger vehicle and pickup sales jumped 124.3% year over year to a record 179,841 units.
The strong performance shows how overseas demand is becoming increasingly important for BYD. Competition in China’s electric vehicle market remains intense, encouraging the company to expand more aggressively abroad.
Mixed July Results for Chinese EV Rivals
Other major Chinese electric vehicle manufacturers reported less consistent delivery figures in July.
XPeng delivered 38,027 vehicles. Although this was higher than a year earlier, the figure was below its record performance in June.
Nio delivered 21,017 vehicles. The company achieved solid annual growth, but deliveries fell by a double-digit percentage compared with the previous month.
Li Auto handed over 30,731 vehicles, also below its June total. The decline suggested that demand had softened in parts of China’s premium electric vehicle market.
BYD Widens Its Lead Overseas
BYD’s international expansion continues to separate the company from many of its domestic competitors.
Overseas deliveries represented almost 43% of BYD’s passenger vehicle sales in July. This supports the company’s strategy of expanding across Europe, Southeast Asia and other international markets.
By relying more heavily on overseas growth, BYD aims to maintain its sales momentum while competition and pricing pressure remain elevated in China.
