{
  "id": 17767981,
  "title": "As BYD and Geely hit sales highs, pressure mounts on China’s smaller carmakers",
  "url": "https://urgent.news/2026/11/02/as-byd-and-geely-hit-sales-highs-pressure-mounts-on-chinas-smaller-17767981",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-11-02T08:00:07.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/china-business/article/3372948/byd-and-geely-hit-sales-highs-pressure-mounts-chinas-smaller-carmakers"
  },
  "original_language": "en",
  "account": "BYD and Geely, two of China's largest carmakers, reported their strongest sales in October, defying a downward trend in the world's largest automotive market. Smaller rivals are facing mounting pressure to improve their profitability. BYD, a Shenzhen-based electric vehicle giant, sold 490,168 cars at home and abroad in October, marking an 11% increase year on year. Geely, headquartered in Hangzhou, delivered 310,183 petrol and electric cars globally in the same period, up 1% from the previous year. Analyst Gao Shen noted that top players, leveraging their new models and cost/technology advantages, have shown resilience in sales. To counter weak domestic demand, both companies have intensified their global expansion efforts. BYD's exports surged by 102.8% year on year, with 170,194 EVs sold in October. Geely's exports grew by 157.8% year on year, with 107,153 vehicles delivered last month. Other leading Chinese carmakers also reported strong sales in October, hinting at the sector's consolidation. Xpeng, an EV assembler from Guangzhou, sold 50,237 cars worldwide, a 19.6% year-on-year increase. Chery Group, based in Anhui province, saw a 5.3% year-on-year sales growth, with 295,934 vehicles delivered monthly. The overall car market in China's mainland hasn't released its October numbers yet, but sales in the first nine months of 2026 dropped 21.7% year on year to 15.3 million units. Despite the challenging outlook for some companies, Morgan Stanley predicts that 1 million self-driving cabs, fitted with entry-level autonomous driving technology, could be operating in China by 2035.",
  "summary": "China’s two largest carmakers, BYD and Geely Auto, recorded their strongest monthly sales of the year in October, bucking a downward trend in the world’s largest automotive market as smaller rivals come under increasing pressure to turn a profit. Shenzhen-based electric vehicle (EV) giant BYD handed over 490,168 cars to customers at home and abroad last month, up 11 per cent year on year, while…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "MacRumors",
        "title": "iPhone 18 Pro Sales Surge in China, Offsetting Decline in U.S. and Japan",
        "url": "https://urgent.news/2026/10/31/iphone-18-pro-sales-surge-in-china-offsetting-decline-in-u-s-and-japan",
        "published": "2026-10-31T05:55:35.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}