BYD (1211) is "highly confident" of reaching its 2026 overseas sales target of 1.5 million vehicles or even higher, the company told analysts during its post-earnings call on Monday. BYD said in January that its export target for this year would be 1.3 million vehicles, down from as much as 1.6 million units its management told Citi in November. Overseas sales as a share of the total more than doubled to 22.7 percent last year and more than doubled again to 50 percent in January-February. BYD on Friday reported a bigger-than-expected profit drop for 2025, as price wars at home hurt its profits, heading into another tough year due to intensifying competition and softer domestic demand. BYD said it did not want to compete through price wars and instead aimed to focus on technology and innovation with continuous R&D spending, the two sources said.
