BYD is confident it can achieve vehicle exports of 1.5 million units in 2026, raising its earlier January target of 1.3 million units by about 15%, according to a Bloomberg report citing people familiar with the matter on March 30. According to the sources, BYD held an analyst briefing on Monday following weaker-than-expected fourth-quarter results. At the meeting, the company expressed strong expectations for overseas market growth and aims to use exports to offset fluctuations in domestic sales. BYD vehicle lineup Financial results released last Friday showed that overseas markets have become a key growth driver for the group. In 2025, BYD exported 1.05 million vehicles, up 145% year-on-year, surpassing the one-million mark for the first time. Corresponding overseas revenue reached RMB 310.7 billion ($45.0 billion), accounting for 38.65% of total revenue. By contrast, the domestic market faced more immediate pressure. In 2025, BYD’s total vehicle sales reached 4.602 million units, up 7.73% year-on-year. BYD financial results from 2021 to 2025 The company reported total revenue of RMB 803.96 billion ($116.6 billion), up 3.46% year-on-year, while net profit attributable to shareholders declined 18.97% to RMB 32.619 billion ($4.73 billion). This marked the slowest revenue growth in six years and the fourth consecutive quarter of year-on-year net profit decline. Amid an ongoing price war in China, BYD’s overall gross margin fell to 17.74%, the lowest level in the past three years, with its automotive segment margin declining by 1.8 percentage points year-on-year. Entering 2026, this divergence has become more pronounced. In the first two months, BYD’s cumulative sales totaled around 400,000 units, down 35.8% year-on-year. BYD export ship However, overseas sales exceeded 200,000 units over the same period, up 50.78%, with their share in the overall mix increasing significantly. In February alone, BYD’s overseas sales of new energy passenger vehicles reached 100,151 units, accounting for 52.6% of total monthly sales and surpassing domestic sales for the first time. As of the end of 2025, BYD’s new energy vehicle footprint spanned 119 countries and regions globally, ranking first in multiple markets including Thailand, Singapore, and Brazil.