Sales of “” declined by 12% in October compared to the same period last year, with approximately 441,000 vehicles sold. This led to a 2% drop in the stock price during Monday’s trading, approaching its lowest level since last February. The company lost its position as the top-selling car brand in the Chinese market, which is the largest automotive market globally.

This decline comes as the company strives to achieve its annual target of 4.6 million vehicles. Cumulative sales since the beginning of the year have reached approximately 3.7 million units, meaning the company needs to sell more than 450,000 vehicles monthly during November and December to reach its goal.

The company’s performance decline is attributed to intensifying competition within the Chinese market. Companies like Geely, SAIC Motor, and Changan have launched new electric vehicle models, while traditional automakers are transitioning toward full electric vehicle production, putting pressure on BYD’s profit margins.

International markets, particularly in the Gulf region and Europe, represent significant growth opportunities for BYD in the coming phase. The company has already begun strengthening its presence in the Gulf region and was among the first companies to establish branches in Saudi Arabia.

The Saudi market is one of the largest in the Middle East, with approximately 800,000 vehicles imported annually. There is a national push to increase electric vehicle sales to 30% of total vehicle sales in the coming years, which opens opportunities for companies like BYD to expand their market share.

Gulf consumers are enthusiastic about modern technology and eager to experience advanced technological vehicles, which enhances the success prospects for electric vehicle companies.

In the European market, BYD faces a very promising future. The European market is the world’s second-largest electric vehicle market after China, with projected sales of approximately 21 million electric vehicles this year, representing a 25% increase over last year.

The slow transition of traditional European companies toward electric vehicles gives BYD a relative advantage, especially since the company began opening branches on the continent last year and plans to establish new factories to strengthen its presence.