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BYD Projects Annual Sales Growth Despite Softer EV Market, JPMorgan Says

Shenzhen, 11 May 2026 – BYD Co is expecting annual vehicle sales to rise despite softer conditions in the broader electric-vehicle market, as the Chinese automaker leans on a more positive domestic outlook and an aggressive overseas expansion strategy.

According to JPMorgan analysts following a post-holiday briefing with BYD management, the Shenzhen-based company now expects domestic sales to reach between 3.5 million and 4 million units this year. That would represent growth of up to 13% in China, outperforming market expectations that had largely pointed to flat volumes or even a moderate decline.

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Author

  • Rebecca Hsu is a Senior Economist and Lead Analyst for The Ledger Asia, focusing on the rapidly evolving financial landscapes of East and Southeast Asia. With a background in sovereign risk assessment and emerging market trends, Rebecca provides sharp commentary on trade dynamics, monetary policy, and the digital economy's impact on regional growth.

    Formerly a strategic advisor for major financial institutions in Hong Kong, she excels at translating complex macroeconomic shifts into actionable insights for investors and policymakers. Her work at The Ledger Asia centers on China’s economic transition and the burgeoning manufacturing hubs of ASEAN, ensuring readers stay ahead of Asia’s shifting financial tides.

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