BYD Stock Plunges to 52-Week Low Even as Overseas Sales Hit Record High

BYD shares slide 23% YTD despite record 160,000 overseas sales in May; EU hybrid tariff proposal and stagnating domestic market weigh on investor sentiment.

The gap between BYD’s operational achievements and its stock performance has rarely been wider. While the Chinese automaker’s overseas sales surged to a record 160,000 units in May — an 80% jump year-on-year — its shares slid to a fresh 52-week low of €8.40 before recovering slightly to €8.60. That leaves the equity trading just four cents above the trough, with the year-to-date loss approaching 23%.

The culprit is a looming European trade crackdown. Brussels has already slapped additional tariffs on Chinese battery-electric vehicles, but a new proposal from the European Commission aims to close a loophole that has allowed BYD to import plug-in hybrids at a standard 10% duty instead of the 27% levied on full EVs. If EU member states approve the measures, BYD, Chery and SAIC would face new countervailing duties on hybrid models. For BYD, the timing is painful: it recently became Germany’s bestselling hybrid brand.

The market’s fears are not unfounded. BYD’s home market is stagnating — domestic sales fell 24% in May to 223,000 vehicles — making overseas expansion critical. International sales already account for 42% of total volumes. Any new tariff barrier would directly threaten that growth engine. “The operating numbers are strong, but investors are pricing in regulatory and margin risks,” one analyst noted.

Technically, the stock looks deeply oversold. The relative strength index has oscillated between 20.9 and 22.2 in recent sessions, both readings in the “extreme” zone. The share price, currently around €8.47, sits well below its 50-day moving average and roughly 21% under the 200-day line of €10.91. Year-to-date, BYD has shed nearly 39% of its value, and it now trades more than 40% below its 52-week high of €14.80.

To sidestep future tariffs, BYD is pressing ahead with local assembly. Production lines are being installed in Szeged, Hungary, with the first cars expected to roll off the line in the fourth quarter of 2026. A planned billion-euro project in Turkey has been shelved to focus resources on the Hungarian facility. Meanwhile, BYD continues to invest heavily elsewhere: a major battery-storage project is underway in Brazil, and the new “Great Tang” luxury SUV has racked up 150,000 pre-orders in China ahead of its European launch.

Until the EU vote on hybrid tariffs is settled, the stock is likely to remain under pressure — even if the export story keeps improving. The next catalyst, one way or another, will come from Brussels.