BEIJING, March 30 (Reuters) - BYD is "highly confident" of reaching its 2026 overseas sales target of 1.5 million vehicles or even higher, the company told analysts during its post-earnings call on
BYD Projects 1.5 Million Vehicle Overseas Sales by 2026 Amid Global Expansion
BYD's Overseas Sales Ambitions and Market Strategy
2026 Overseas Sales Target and Analyst Insights
BEIJING, March 30 (Reuters) - BYD is "highly confident" of reaching its 2026 overseas sales target of 1.5 million vehicles or even higher, the company told analysts during its post-earnings call on Monday.
The Chinese EV giant said overseas markets could eventually account for about half of its business, according to two people with direct knowledge of the call.
Export Targets and Recent Performance
2024 Export Target Adjustments
BYD said in January that its export target for this year would be 1.3 million vehicles, down from as much as 1.6 million units its management told Citi in November.
Growth in Overseas Sales Share
Overseas sales as a share of the total more than doubled to 22.7% last year and more than doubled again to 50% in January-February.
Challenges in Domestic and Overseas Markets
Profit Drop and Domestic Competition
BYD on Friday reported a bigger-than-expected profit drop for 2025, as price wars at home hurt its profits, heading into another tough year due to intensifying competition and softer domestic demand.
Overseas Expansion via Localization
The company said that overseas expansion could come through localization and its factories in Europe and Indonesia were expected to begin mass production around March or April this year, according to one of the two sources.
BYD did not respond to a Reuters' request for comment. The sources declined to be named as the call was not public.
Strategic Focus and Regulatory Environment
Technology and Innovation Over Price Wars
BYD said it did not want to compete through price wars and instead aimed to focus on technology and innovation with continuous R&D spending, the two sources said.
Chinese Government's Role in Market Regulation
The Chinese government is cracking down on cut-throat competition in the auto sector and most recently laid out pricing guidelines aimed at curbing below-cost selling in the auto supply chain.
Reporting Credits
(Reporting by Zhang Yang, Ju-min Park, Qiaoyi Li; Editing by Tomasz Janowski)
