BYD: Looking Forward To 2H26 Comebacks Amid New Models And Iterations

BYD's sluggish FY25 sales were mostly due to elevated competition domestically (especially for lower ASP vehicles) and lagging progress on intelligent driving. The company clearly acknowledges the laggard of intelligence in a tech-savvy market. Chances are these problems will be resolved by FY26 given its leading R&D efforts. Meanwhile, significant strides in new products in the higher-end market were made along with its strong progress in battery technology.