BYD Stock: Chinese Automaker Overtakes Tesla as World’s Top EV Seller in 2025

TLDR

• BYD delivered 2,256,704 all-electric vehicles in 2025, surpassing Tesla to become the world’s largest EV seller for the first time
• Total BYD passenger vehicle sales reached 4.54 million in 2025, an 8% increase from 2024
• BYD’s December deliveries dropped to 414,784 vehicles, down from 474,921 in November
• Chinese EV startups Leapmotor and Xpeng posted strong growth with affordable models, while Li Auto saw deliveries decline
• BYD exported over 1 million vehicles in 2025, up 150% year-over-year, with December exports hitting a record 132,837 units

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BYD delivered 2,256,704 all-electric vehicles in 2025. The Chinese automaker now holds the title of world’s largest EV seller for the first time in a full calendar year.

Tesla is expected to report around 1.7 million deliveries for 2025. That would mark a slight decline from its 2024 total of 1,789,226 vehicles. BYD delivered 1,764,992 EVs in 2024, narrowly missing the top spot.

The gap closed through BYD’s focus on lower-priced vehicles. The company also benefits from operating primarily in China, the world’s largest and fastest-growing EV market.

BYD’s total passenger vehicle sales reached 4.54 million for 2025. This represents an 8% increase from the previous year. The company also manufactures plug-in hybrid vehicles in addition to all-electric models.

Export Growth Drives Market Expansion

December marked a record month for BYD exports. The company shipped 132,837 vehicles outside China. For the full year, BYD exported over 1 million cars, up 150% from 2024.

BYD Company Limited, BYDDY

BYD stock gained about 7% in 2025. Shares rose 3.6% in overseas trading after the company released its delivery figures. The stock’s performance tracked closely with the company’s sales growth throughout the year.

December deliveries came in at 414,784 vehicles. This marked a decline from 474,921 deliveries in November. The month-over-month drop reflected broader weakness in China’s plug-in hybrid market.

Chinese EV Market Shows Mixed Results

BYD’s plug-in hybrid sales totaled 2,288,709 for 2025. This represented an 8% decrease from 2024. December plug-in hybrid deliveries fell 26% year-over-year to 224,072 units.

Chinese EV startups posted divergent results for the year. Leapmotor delivered 596,555 vehicles in 2025, nearly doubling its 2024 sales volume. The company surpassed its annual target and aims to deliver 1 million EVs in 2026.

Xpeng delivered 429,445 vehicles in 2025. The 126% increase from 2024 came partly from its Mona series launch in September. The company saw peak deliveries in September and October.

Nio recorded 326,028 deliveries for the year. The 46.9% year-over-year increase included strong performance from its premium brand. Half of Nio’s deliveries came from its flagship namesake vehicles.

Li Auto delivered 406,343 vehicles in 2025. This marked a sharp decline from its record 2024 performance. December brought 44,246 deliveries, the first monthly total above 40,000 since May.

Xiaomi delivered over 380,000 vehicles in 2025 based on monthly data. The smartphone maker recorded more than 50,000 sales in December, setting a new company record.

Huawei-backed Harmony Intelligent Mobility Alliance delivered approximately 589,107 vehicles for 2025. This represented a 32% year-over-year increase. December deliveries reached 89,611 units, the third consecutive month of record deliveries.

Chinese government subsidies for EV purchases are changing in 2026. The benefits will shift from fixed amounts to percentage-based incentives tied to vehicle prices. This change could pressure prices and sales volumes for lower-end vehicles.

BYD’s December wholesale deliveries overshadowed Tesla’s China performance. Tesla recorded 735,274 Model Y and Model 3 wholesale deliveries between January and November in China. December numbers for Tesla have not yet been released.

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