BYD sold more cars in May than any other month this year, racking up 382,476 vehicle sales after cutting prices by as much as 34% in the final days of the month, according to a company statement Sunday. Out of the total, 376,930 were passenger vehicles. 204,369 were fully electric, while 172,561 were plug-in hybrids — only the second time since early 2024 that electric sales beat hybrids. The company’s full-year target sits at 5.5 million, and by the end of May, it had already hit 1.76 million units sold. The numbers didn’t happen in a vacuum. Those massive late-May discounts didn’t just send customers rushing into dealerships, they also sent BYD’s shares, along with other EV stocks, straight down. Automakers who weren’t slashing prices suddenly had to. That triggered backlash. The China Association of Automobile Manufacturers dropped a warning Saturday, saying “disorderly price wars intensify vicious competition, further compressing corporate profit margins.” The group didn’t name anyone directly, but nobody needed a hint. It was a clear response to BYD. Industry reacts to discount chaos Traffic at BYD showrooms exploded after the cuts. Analysts at Citi Research estimated that visits to dealerships jumped 30% to 40% week-on-week. Customers weren’t waiting for prices to go any lower. They showed up fast, and they bought. The company didn’t issue statements about what the price cuts would mean for margins or long-term profits, but the reaction from industry players and market analysts was immediate. Everyone else in the EV space was either slashing prices or getting left behind. While BYD’s domestic surge got all the attention, the company was making moves in Europe too. In April, Chinese carmakers, led by BYD, took 8.9% of the EV market in the region — the highest share in nine months. That rebound came after the European Union slapped tariffs on Chinese EVs in November 2024. The tariffs slowed things down briefly, but they didn’t last. Over the past two months, Chinese brands have come roaring back. Researchers at Dataforce confirmed the comeback, noting strong growth in both electric and hybrid sales from Chinese companies. Julian Litzinger, an analyst with Dataforce, said, “The Chinese brands did successfully adapt to the new market surroundings.” He pointed out that the jump in hybrid sales helped push the overall performance higher in Europe. Chinese hybrids rise as MG pivots Chinese hybrids are starting to take up real space in the European market. Last month, those brands accounted for 7.6% of all hybrid car sales, up from under 1% a year ago. BYD is right at the center of that rise. It’s not just outselling rivals like Tesla; it’s also pushing harder into hybrid models to meet new demand. While EVs still make up the core of its growth, the company clearly sees the need to spread its bets. That strategy is now showing results. One competitor that’s had to react fast is MG, which used to be the top Chinese EV brand in Europe. The brand, owned by SAIC Motor Corp, has been hit hard by EU duties that now top 45% on EVs. Even in Norway and the UK — where those tariffs don’t apply — MG has seen its EV sales drop. The brand is now going all-in on hybrids, trying to meet buyers where the tariffs can’t reach. Felipe Munoz, an analyst at Jato Dynamics, said MG is now focused on the ZS crossover and the MG3 subcompact, both non-electric models that are doing well. Munoz added, “The focus now is not merely on electric cars but on other power trains.” KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
