BYD’s March NEV Output Falls by a Third Despite Strong Export and Battery Volumes

BYD Co ( (HK:1211) ) has provided an announcement.

BYD reported a sharp year-on-year decline in March 2026 production and sales of new energy vehicles, with total volumes down about a third versus March 2025 and similar falls in year-to-date figures, reflecting broad weakness across both battery electric and plug-in hybrid passenger models. Commercial vehicle output and sales also fell, although bus volumes rose from a low base, while exports of new energy vehicles reached 120,083 units in March and installed battery and energy storage capacity totaled 21.255 GWh for the month and 60.215 GWh year-to-date, highlighting BYD’s continuing scale in batteries despite softer vehicle demand.

The company emphasized that the reported production and sales volumes are unaudited and may be subject to adjustment, signaling potential revisions when full financial results are released. These trends suggest mounting pressure on BYD’s growth trajectory in its core vehicle business, even as its export push and large battery installation base remain important pillars for its positioning in the global new energy vehicle and energy storage markets.

The most recent analyst rating on (HK:1211) stock is a Buy with a HK$135.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

More about BYD Co

BYD Company Limited is a Chinese manufacturer focused on new energy vehicles, including battery electric and plug-in hybrid passenger cars, as well as commercial vehicles such as buses. The company is also a major producer of power batteries and energy storage batteries, serving both domestic and export markets from its base in Shenzhen, China.

Average Trading Volume: 29,209,703

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$1012.3B

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