BYD’s China EV deliveries sharply decline in December, but lead overall sales in 2025
Hong Kong — BYD, the world's largest electric vehicle (EV) maker, concluded a turbulent 2025 by maintaining its dominant leadership in China's fiercely competitive market, even as its December deliveries saw a notable decline. The annual sales race highlighted a clear industry trend: growth was increasingly driven by affordable models, placing pressure on premium-focused brands.
According to a company filing, BYD delivered 414,784 vehicles in December 2025, a figure that represents a sequential drop from November and a year-on-year decrease. Despite the year-end slowdown, the company's annual passenger vehicle deliveries surpassed 4.54 million, marking a 6.94% increase from 2024 and meeting its revised annual target. This performance solidly outpaces its closest rival, Tesla, which reported 735,274 wholesale deliveries in China for the first eleven months of the year based on industry data.
Affordable Models Drive Market Expansion
The broader Chinese EV landscape in 2025 was characterized by aggressive pricing and a shift toward mass-market appeal. Several startups emerged as high-growth challengers by focusing on value, a strategic pivot that reshaped consumer expectations.
Leapmotor nearly doubled its 2024 sales, delivering 596,555 vehicles for the year and surpassing its own target.
Xpeng reported a dramatic 126% year-on-year surge, with annual deliveries reaching 429,445 vehicles, largely fueled by the successful launch of its budget-friendly Mona series.
Even premium player Nio saw robust growth of 46.9%, though it noted that half its annual deliveries of 326,028 vehicles came from its more accessible brands.
This intense competition for market share has created a dynamic and fast-moving industry landscape, where a brand's momentum can shift as quickly as the leaderboard in a high-stakes race.
Mixed Fortunes for Other Major Players
Not all brands capitalized on the year's trends. Li Auto bucked the industry's growth trajectory, with annual deliveries of 406,343 vehicles marking a significant decline from its record 2024 performance, though it showed signs of recovery in December.
Meanwhile, the Huawei-backed Harmony Intelligent Mobility Alliance (including Aito and Chery) maintained strong momentum. The alliance reported approximately 589,107 deliveries for the year, a 32% increase, and set a new monthly delivery record in December. The performance underscores how powerful technological ecosystems are becoming key drivers in the automotive sector.
The overall market data confirms that 2025 was a year where scale, pricing power, and strategic partnerships dictated success, setting the stage for an even more consolidated and competitive battle in 2026.
