Beijing, (Reuters) – The production of Byd vehicles fell 0.9% in July compared to the same period of the previous year, ending a 16 -month growth streak that has catapulted the Chinese manufacturer to the position of largest world producer of electric vehicles.
Byd manufactured 317,892 electric vehicles and plug -in hybrids worldwide last month, while sales increased 0.6% to 344,296 vehicles, decelerating drastically compared to the 12% increase recorded in June, according to a monthly presentation before the Hong Kong Stock Exchange.
Its sales and production of electric vehicles still grew in July compared to the previous year, but the sales of plug -in hybrids fell 22.6% and the production was reduced by 24.6%.
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The last time the company experienced a drop in production was in February 2024, in line with a generalized decrease in the industry due to the Chinese lunar new calendar, which in 2024 fell in February, while the previous year was in January. Sales were also contracted in February 2024.
Byd, the largest Chinese rival in Tesla, saw both production and sales reach historical maximums in the fourth quarter of 2024, before starting to descend this year.
With electric car sales representing 41% of its more than 4 million units sold last year, Byd has surpassed the US company specialized in EV as the largest world seller of electric vehicles.
Byd, immersed in an intense price war in the largest automotive market in the world, has slowed its production rate in recent months by reducing shifts in some factories in China and postponing plans to add new production lines, Reuters reported in June.
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