BYD sold 490,168 new-energy vehicles in October, up 11% from a year earlier, with overseas shipments more than doubling to 170,194, as exports carried the Chinese carmaker to its best month since December 2024. Pure battery-electric cars led the way, topping 300,000 for the first time at 305,743, up 37.4%, while plug-in hybrid sales fell 17.2% to 177,382, EVThrottle reported, citing BYD's Hong Kong stock exchange disclosure of 1 November.

Exports are now the story of BYD's year. The company has shipped 1,513,154 vehicles overseas in the first ten months of 2026, up 93.8% from last year, while domestic sales fell 10.6% in October to 319,974. October's growth came entirely from exports, which nonetheless cooled a little from the summer peak, slipping 5.8% from September. Reuters confirmed the headline figures, reporting a sixth straight month of sales growth built on overseas demand.

Tesla's October was quieter but still positive. Its Shanghai plant wholesaled 67,829 China-made Model 3s and Model Ys, up 10.3% year on year, the 12th consecutive month of annual growth. The figure covers both domestic deliveries and exports, and the passenger car association has not yet published the split. Volume fell 28.9% from September's quarter-end high of 95,366; through October the plant has wholesaled 810,889 vehicles, up 21.4% on the year.

Both companies face headwinds. The European Union has tariffs on Chinese-built EVs and plans curbs on hybrid imports, Mexico and Turkey have imposed their own tariffs, and Beijing is cutting the VAT rebates exporters receive. JPMorgan downgraded BYD on stagnating domestic demand, higher component costs and the export rebate cuts. Neither firm is standing still: BYD launched the second-generation Seagull on 20 October and the third-generation Qin Plus DM-i on 27 October, while Tesla is offering November promotions in China including price cuts and zero-percent financing.