BYD reduces its 2025 sales goal from 5.5 million to 4.6 million vehicles, according to a new report.

In the ever-evolving world of automotive manufacturing, two major Chinese players, BYD and Geely, have recently adjusted their sales targets for the coming years.

BYD, a leading electric vehicle (EV) manufacturer, initially aimed for 5.5 million units in vehicle sales for 2025. However, this target has been revised downward multiple times in recent months, with the latest sales figure communicated internally and to some suppliers last month being at least 4.6 million units. This represents a 16% reduction from the previously stated target.

In August, BYD sold 373,626 New Energy Vehicles (NEVs), marking a 0.15% year-on-year increase and an 8.52% rise from July. However, the company's NEV sales remained flat, continuing the decline of hybrid vehicles.

Meanwhile, Geely Auto, listed on the Hong Kong Stock Exchange under the ticker HKG: 0175, has raised its annual sales target to 3 million units, an 11% increase from the previously stated 2.71 million. The robust growth of Geely was primarily driven by its sub-brand Geely Galaxy, which sold a record 110,666 vehicles in August. Geely's August sales reached 250,167 units, marking the second-highest monthly figure on record.

Competitive pressure from Geely Auto and another rising player, Leapmotor (HKG: 9863), continues to intensify. Leapmotor delivered 57,066 vehicles in August, marking its fourth consecutive month of record-high deliveries. From January to August, Leapmotor delivered 328,859 vehicles, a 136.43% year-on-year increase.

It's important to note that the target remains subject to adjustment based on market conditions. The reduced sales target for BYD is a 7.67% growth compared to 2024, which would be the lowest annual growth rate since 2020. The internal revisions of the sales target have not been publicly announced.

BYD's stock is traded on the Hong Kong Stock Exchange under the ticker HKG: 1211, and on the OTC Market under the symbol BYDDY. Geely's stock is also listed on the Hong Kong Stock Exchange.

This shift in sales targets underscores the dynamic nature of the automotive industry in China, where competition is fierce and market conditions can change rapidly. As these companies adjust their strategies, they will undoubtedly continue to shape the landscape of the EV market in China and beyond.