BYD (BYDDY) plans to sell 1.5-1.6 million vehicles overseas in 2026, representing strong double-digit growth from 2025 levels, according to a Citi report citing recent meetings with BYD management.
The expansion will be driven largely by new model launches, Reuters reported.
Citi said BYD's 2026 target exceeds its projected 2025 overseas sales of 900,000-1 million units. The company's regional distribution will remain balanced, with Europe, North America, and ASEAN markets each contributing about one-third of overseas volume next year.
BYD management expects capital expenditures to decline in the fourth quarter and drop further in 2026 as current vehicle and battery production capacity is expected to meet demand. Citi did not specify BYD's overall 2026 global sales target.
Reuters noted that BYD recently revised its 2025 total sales goal down 16 percent to 4.6 million units following weaker domestic demand. Investor meetings on November 6, hosted by BYD, drew analysts from Citi and Goldman Sachs.
In October, BYD sold 441,706 vehicles, down 12.13 percent year-over-year, marking its second consecutive monthly decline. However, sales were up 11.47 percent month-over-month. From January to October, total sales reached 3.7 million vehicles, a 13.88 percent year-on-year increase, with overseas deliveries up 137.33 percent to 780,976 units.
BYDDY currently trades at $13, or 0.61% lower on the OTC Markets OTCPK.
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