BYD reported February sales of 190,190 new energy vehicles, a decline of 41.09% from a year earlier and the sixth consecutive month of year-on-year contraction, as domestic demand weakened amid holiday disruptions and policy changes.
The figure also represents a 9.46% decrease from January's 210,051 units. The Lunar New Year holiday, which ran from Feb. 15 to Feb. 23 this year, affected production and deliveries across China's automotive sector, while last year's holiday occurred mainly in January.
Passenger vehicles accounted for 187,782 units of February sales, down 40.99% year on year and 8.63% from the previous month. Battery electric vehicles totaled 79,539 units, while plug-in hybrid electric vehicles reached 108,243 units, both declining from year-earlier levels.
Commercial vehicle sales were comparatively small, with 2,408 units delivered in February, down sharply from both a year earlier and January.
Despite domestic weakness, overseas markets continued to expand. BYD exported 100,600 vehicles during the month, up 50.09% year on year and marking the fourth consecutive month in which exports exceeded 100,000 units.
The company also reported that installed capacity for its power batteries and energy storage systems reached about 18.773 gigawatt-hours in February, up 12.45% from a year earlier but lower than January.
To support demand, BYD has introduced extended financing options, including low-interest auto loans of up to seven years, as Chinese regulators discourage aggressive price cuts. Automakers have increasingly relied on financial incentives to reduce purchase barriers while preserving margins.
Changes to government support measures have also affected the market. Buyers of new energy vehicles now face a 5% purchase tax, adding to costs compared with earlier policy regimes.