China’s EV "miracle" just hit a wall and BYD’s January numbers are the warning shot.
Production down 29%.
Sales down 30%.
Three times worse than the industry average.
Years of brutal price wars hollowed out profits, crushed resale values, and burned consumer trust. Subsidies
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China’s EV "miracle" just hit a wall and BYD’s January numbers are the warning shot.
Production down 29%.
Sales down 30%.
Three times worse than the industry average.
Years of brutal price wars hollowed out profits, crushed resale values, and burned consumer trust. Subsidies are gone. Credit is tight. The middle class is squeezed by mortgages, jobs, and falling confidence. So buyers are waiting — afraid prices will fall again, afraid brands won’t survive.
Exports? Cooling fast. Southeast Asia raises tariffs. Europe talks carbon taxes. The overseas escape hatch is closing.
BYD’s slump isn’t just a company problem. It exposes a deeper truth:
China doesn’t lack products.
It lacks demand, confidence, and margins.
When the national champion starts sliding, the entire manufacturing chain feels the cold.
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