At least six major Chinese electric car brands reported a sharp sales drop in January from December, according to CNBC's analysis.
BEIJING — Chinese electric car giant BYD
reported a nearly two-year low in local sales in January, signaling mounting challenges for the world’s largest auto market.
The slump comes amid rising concerns about lackluster domestic demand in China, and overproduction of cars spilling into other countries.
At least six major electric car brands from Xiaomi
to Xpeng
BYD lost ground to its domestic competitors over the first two months of 2026, as overall demand in China's electric vehicle…
While other major Chinese electric vehicle makers, including Li Auto and Nio, also reported a drop in July deliveries.
BYD led China EV deliveries in 2025, though its December sales took a hit from the aggressive price war and weak domestic demand.
Analysts predict China's electric car market will see growth slow significantly in the year ahead.
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BYD has slashed its sales target for this year by as much as 16% to 4.6 million vehicles, two people with knowledge of the matter…
