BYD slows down in China: overtaking (record) by Geely

For much of the last three years BYD has seemed unstoppable. The Chinese tech company has launched new models at a continuous pace, expanding its range and seeing its sales grow at an impressive rate. However, the beginning of 2026 highlighted important slowdowns for the company, especially in the homeland. In fact, in the first two months of the year it sold 400,241 vehicles, a decrease of 36% compared to the same period in 2025. In February alone, sales were 190,190, down 9.5% compared to January (an effect partly due to the Lunar New Year) and 41% compared to February 2025. BYD slows down in China Among the causes emerge the reduction of tax breaks and a decline in buyer confidence. In fact, many consumers seem to prefer to wait to understand which new models will arrive and whether government incentive and trade-in programs will be clarified before committing to the purchase. Aside from the difficulties on the domestic market, BYD continues to expand abroad: in February alone it exported 100,600 electric and plug-in hybrid vehicles, bringing the January-February total to 201,082 units exported. Historic overtaking by Geely Meanwhile, other Chinese manufacturers are recording strong growth. Leapmotor saw sales jump 19% in the first two months of the year, Xiaomi’s EV division grew 48%, Zeekr saw a surge of 84% and NIO increased deliveries by 77%. Particularly relevant is the case of Geely, which has so far delivered around 76,000 more vehicles than BYD in the first two months of 2026, marking the first time in the last five years that Geely has surpassed BYD in sales for at least two consecutive months. While Geely leads now in China, it remains slightly behind in overseas markets with 181,891 vehicles exported so far this year.