China EV Giant’s Sales Hit A Wall

By Douglas McIntyre  •  September 4, 2025
Kindel Media Pexels

Over half of all EVs sold in the world are sold in China. Sales have been so brisk that there are a dozen financially viable EV producers. This includes Tesla. Some of the newer EV companies have faltered, nevertheless. There are rumors that some of these companies have not paid suppliers for months. 

In a sign that China’s EV sales have hit a wall, BYD, by far the most significant player in the industry, revised its sales forecasts down. According to a review of company documents, BYD has reduced its 2025 targets to 4.6 million from 5.5 million, which represents a significant drop. The shock is not just because of sales in China. BYD is the first Chinese EV company to make large forays outside the world’s most populous country. Reuters also reports that the new cut is one of several made earlier in the year.

Largest Player

The BYD figures may be part of an ongoing trend that EV sales are slowing globally. This is undoubtedly true in the US, where sales of gas-powered cars have remained healthy, and hybrids have experienced unexpected success. It appears that for American buyers, hybrids serve as a substitute for EVs. They are easier to fuel and run on a more widely understood platform.

BYD has moved into southern Asia, South America, and parts of Europe. That expansion by itself should drive its sales up this year. The cut in forecasts indicates that the EV industry remains immature, and that competition may include too many companies – some of which won’t survive.

Correction: Should read BYD initial targets was 5.6 million .

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