BUSINESS

BYD Faces Challenges from Geely, Chery

Published: Mar. 20, 2026 6:55 p.m. GMT+8

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A Chery QQ is displayed at the Shanghai auto show in 2025. Photo: VCG

Electric vehicle giant BYD Co. Ltd. is facing intensifying competition at home and abroad, as Geely Automobile Holdings Ltd. challenges its dominance in the domestic market and Chery Automobile Co. Ltd. doubles down on auto exports.

In 2025, BYD retained its position as China’s largest passenger carmaker by retail sales, with deliveries of about 3.5 million vehicles, down 6.3% year-on-year, Geely ranked second after its auto sales increased 47% year-on-year to about 2.6 million cars, according to data from the China Passenger Car Association (CPCA).

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BYD remained China's largest passenger carmaker in 2025 with 3.5 million vehicles sold, though sales declined 6.3% year-on-year; Geely followed with a 47% increase to 2.6 million units.
Geely surpassed BYD in domestic sales for the first two months of 2025 and aims to become China's largest car vendor in 2026.
Chery was China's top car exporter in 2025 with 1.3 million overseas sales, 49% of its total, and plans to export over 1.5 million vehicles in 2026.

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Who’s Who

BYD Co. Ltd.: BYD Co. Ltd. maintained its position as China's largest passenger carmaker in 2025 with 3.5 million vehicle deliveries. It faces increasing competition from Geely domestically and Chery in exports. Unlike its rivals, BYD exclusively produces new-energy vehicles. To defend its market share, BYD introduced new fast-charging technology for its blade batteries.

Geely Automobile Holdings Ltd.: Geely Automobile Holdings Ltd. is China's second-largest passenger carmaker. In 2025, its auto sales grew 47% year-on-year to 2.6 million cars. Geely aims to surpass BYD as the country's largest car vendor by 2026. The company also sold 1.3 million combustion-engine vehicles in 2025.

Chery Automobile Co. Ltd.: Chery Automobile Co. Ltd. was China's largest car exporter in 2025, shipping approximately 1.3 million cars, a 33.2% year-on-year increase. Overseas markets accounted for 49% of its total sales volume and roughly 52% of its revenue in 2025, highlighting the growing importance of its international business. Chery aims to export over 1.5 million vehicles in 2026.

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What Happened When

2025：: BYD retained its position as China’s largest passenger carmaker by retail sales, with about 3.5 million vehicles delivered.

2025：: Geely ranked second in China after its auto sales increased 47% year-on-year to about 2.6 million cars.

2025：: Chery was China’s largest car exporter with shipments of about 1.3 million cars, up 33.2% year-on-year.

2025：: BYD shipped about one million vehicles overseas, up 145% year-on-year.

2025：: Geely sold 1.3 million combustion-engine vehicles.

2025：: Chery sold 1.8 million combustion-engine vehicles.

By March 2026：: Geely Auto Group CEO Gan Jiayue announced that the company sold 355,000 vehicles in the domestic market during the first two months of 2026, surpassing BYD.

AI generated, for reference only