BYD Rides a Fang Cheng Bao Surge to Overtake Tesla, but Domestic Sales Slump and a Hungarian Probe Cloud the Outlook
Published on 07/21/2026 at 02:52 | Redaktion boerse-global.de
A tale of two trends is playing out inside BYD. While its rugged Fang Cheng Bao SUV brand is shattering sales records, the once-dominant Qin family of sedans has fallen into a steep decline. The contrasting fortunes underscore the challenges facing the Chinese auto giant as it juggles domestic headwinds with a blistering offshore expansion.
Fang Cheng Bao reported that cumulative deliveries of its boxy Tai 7 model have surpassed 200,000 units in just ten months — a milestone no other square-shaped SUV in China has reached faster. In June alone, the model moved 23,710 vehicles, a 29.7% jump from May. The fully electric variant, fitted with BYD’s second-generation Blade battery and ultra-fast charging technology that can replenish from 10% to 70% in five minutes, is gaining particular traction. The Tai 7 launched as a plug-in hybrid last September, with the battery-electric version following early this year. Across the whole Fang Cheng Bao brand, June sales hit 35,607 units, an 88.4% year-on-year surge, making it one of BYD’s fastest-growing sub-brands. Two more models, the Tai 9 and Formula S, are slated for the second half of the year.
On the other side of the ledger, the Qin line — once a stalwart of BYD’s lineup — saw June sales tumble 66.17% year-on-year to just 14,900 units. First-half volume fell 45.62% to 149,174 vehicles, a far cry from the 661,090 sold in all of 2025. To stem the slide, BYD is launching the Qin Max, a flagship sedan measuring 4,866 mm in length with a 2,820 mm wheelbase, offered as a pure EV with either a 240 kW or 120 kW motor, or as a plug-in hybrid combining a 1.5-litre engine with a 175 kW electric motor. At the other extreme, BYD’s Denza Z electric supercar — armed with three motors producing 1,164 kW, a 0-100 km/h sprint of 2.25 seconds, and a 76 kWh battery capable of charging at up to 1,500 kW — is now available in Britain at £142,900 for the coupe and £159,900 for the spider.
Should investors sell immediately? Or is it worth buying BYD?
The mixed results at home have not stopped BYD from reclaiming the global crown in pure battery-electric vehicle sales. In the second quarter, the Shenzhen-based manufacturer delivered 557,090 BEVs, comfortably topping Tesla’s 480,126. The title had briefly slipped away in the first quarter. Overseas deliveries hit a record 175,349 vehicles in June, a 94.73% year-on-year leap, and for the first half of the year they climbed 70.65% to 792,256 units. Yet the domestic market remains a drag: BYD’s total new-energy vehicle sales in the first half fell 15.72% to 1,808,511 units, with China-wide passenger car sales now expected to shrink 11% this year, according to the China Passenger Car Association, which revised its earlier forecast of a 1% decline. Expiring subsidies, a prolonged property downturn, and bloated dealer inventories are all sapping demand.
The stock has staged a recovery from its two-year low, though it remains deep in the red from its peak. Shares closed Monday at €10.07, up 1.7% on the day and 15.7% higher over the past month. Even so, the price is still 31.97% below the record of €14.80 set in July 2025. The rebound was sparked by two consecutive months of year-on-year growth in NEV deliveries, a welcome turnaround after a sharp sell-off that had pushed the stock to its lowest since September 2024.
Political noise has also surfaced in Europe. Hungary, where BYD is building factories in Szeged, Komárom and Budapest, has launched a review of the company’s operations after former foreign minister Péter Szijjártó took a global leadership role at BYD. Szijjártó told Szeged’s mayor that he will oversee international relations — not investment decisions in Hungary. No battery production is planned at any of the three Hungarian sites. On a more upbeat note, BYD has signed a global sponsorship deal with Paris Saint-Germain lasting until June 2029, supplying the football club with BYD and Denza vehicles for daily operations and gaining visibility at the Parc des Princes. Similar tie-ups already exist with Inter Milan and Manchester City.
The Fang Cheng Bao success story, coupled with the resurgent overseas pipeline and the Tesla overtake, offers a powerful growth narrative. But the steep decline in the Qin family and the broad domestic contraction serve as stark reminders that BYD’s home market is no longer the sure bet it once was. The second half of the year — with the Tai 9, Formula S, and Qin Max all on the launch pad — will test whether BYD can sustain its dual-speed trajectory.
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