--- title: "BYD, Geely benefit from overseas orders amid Middle East energy shock" type: "News" locale: "en" url: "https://longbridge.com/en/news/285132506.md" description: "Chinese EV manufacturers BYD and Geely reported stabilizing sales in April, driven by overseas orders amid domestic demand challenges. BYD sold 321,123 vehicles, a 15% year-on-year drop but a 7% increase from March, with exports reaching a record 135,098 units. Geely's sales rose slightly to 235,164 units, with exports surging 244.7%. Despite a decline in domestic EV sales and profit margins, both companies are increasing export targets and focusing on technological advancements to boost sales. Analysts remain cautious about local demand, emphasizing the need for policy stability in 2026." datetime: "2026-05-04T23:02:40.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285132506.md) - [en](https://longbridge.com/en/news/285132506.md) - [zh-HK](https://longbridge.com/zh-HK/news/285132506.md) --- # BYD, Geely benefit from overseas orders amid Middle East energy shock Chinese electric vehicle (EV) makers – including BYD and Geely Automobile – saw their sales stabilise in April, as exports and new technologies continued to help offset weakening demand at home. BYD, the world’s largest EV manufacturer, sold 321,123 vehicles last month, a drop of more than 15 per cent compared to a year ago, according to its exchange filing on Sunday. However, compared with March, April’s sales figure was nearly 7 per cent higher, while the year-on-year decline was nearly five percentage points slower. Overseas sales helped to boost the total as BYD’s outbound shipments climbed for a fourth consecutive month in April to a record 135,098. Growth also sped up from around 50 per cent year on year in the first two months of 2026 to 70.8 per cent last month. This pattern was also seen at other major Chinese carmakers. Geely, which produces both petrol and electric cars, sold 235,164 units last month, edging up by 0.45 per cent year on year – faster than March’s 0.37 per cent. The Hangzhou-based firm shipped 83,186 units overseas, registering the fastest monthly export growth rate this year with a surge of 244.7 per cent from the same period in 2025. Meanwhile, Chery Automobile recorded sales of 251,386 of petrol and electric cars and exports of 177,573 units, up by 25 per cent and 102.4 per cent year on year, respectively. “As overseas developments continue to show a strong support for the China auto industry, overall wholesale shipment performance has remained unexciting for EV players,” Nomura analysts Joel Ying and Ethan Zhang said in a note on Sunday. “We maintain a cautious view on local demand and believe increased certainties of policies will be critical to set the tone for the entire 2026 local market outlook.” China’s domestic EV sales have taken a hit since January, when a 10 per cent sales tax exemption was cut in half. Despite the rally during the past two months, retail sales of EVs slid 11 per cent year on year to around 614,000 units from April 1 to 26, data from the China Passenger Car Association (CPCA) showed. Moreover, the profit margin of the auto industry – mainly car manufacturers – dropped further to 3.2 per cent during the first quarter of the year versus the 6 per cent average for downstream industrial companies, according to the CPCA. With falling sales and squeezed profits at home, China’s carmakers are stepping up efforts to increase their exposure to overseas consumers by setting up new stores and a regional operations hub in Europe. BYD and Geely also raised their export targets for the year amid the energy shock stemming from conflicts in the Middle East. Apart from overseas expansion, technological upgrades and new models have also started to benefit sales. Deutsche Bank estimated on Monday that BYD’s new orders remained above 220,000 units in April despite the 15 per cent month-on-month decline. This followed a 174 per cent surge in March after its second-generation fast-charging battery and the technology for its system were unveiled at the beginning of that month. Zhejiang Leapmotor Technology extended its dominance among Chinese EV start-ups by delivering a record 71,387 units in April, up 74 per cent year on year and at its fastest pace growth so far in 2026. Deutsche Bank attributed it to the carmaker’s successful launch of the A10 and D19 SUVs. Following a slump in the first two months of the year, most of the country’s smaller players – including Xiaomi and Nio – reported stable deliveries of around 30,000 units in April. ### Related Stocks - [GELHY.US](https://longbridge.com/en/quote/GELHY.US.md) - [00175.HK](https://longbridge.com/en/quote/00175.HK.md) - [BYDDY.US](https://longbridge.com/en/quote/BYDDY.US.md) - [002594.CN](https://longbridge.com/en/quote/002594.CN.md) - [01211.HK](https://longbridge.com/en/quote/01211.HK.md) ## Related News & Research - [Geely preparing Canadian launch with major hiring push in Toronto](https://longbridge.com/en/news/284835944.md) - [Geely Says This Is China’s First Purpose-Built Robotaxi. I'm Not So Sure](https://longbridge.com/en/news/284260372.md) - [Geely teases pure electric version of Starship 7 SUV with 605-km range](https://longbridge.com/en/news/284512672.md) - [The U.S. Wants To Ban Chinese Cars, But They're Already At The Gate](https://longbridge.com/en/news/284978675.md) - [Geely Galaxy M7 hybrid SUV hits market with aggressive pricing and long range](https://longbridge.com/en/news/284408061.md)