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BYD released sales figures for October, down 15.19% from a year earlier to 41130 vehicles. Of these, new energy vehicle sales were 12567, down 55 per cent from a year earlier, while BYD's pure electric passenger car sales in October were 7588, down 41.5 per cent from a year earlier; plug-in hybrid vehicle sales were 4454, down 67 per cent from a year earlier; fuel vehicle sales in October were 28563, down 25 per cent from a year earlier.

Affected by the decline of new energy subsidies, BYD's sales of new energy vehicles have declined for four consecutive months. Even the traditional peak season of "Golden Nine and Silver Ten" has not reversed the trend, and even the sales of new energy vehicles in September and October are lower than the traditional off-season in July and August.

According to sales statistics in October, BYD's new energy vehicles are still on an upward trend, with sales of 205000 new energy vehicles, an increase of 19.93% over the same period last year. This is also due to the strong growth in the first half of the year, but in today's context, it is not just BYD. Other car companies have also not seen a significant improvement, and the growth rate for the whole year may further slow down.

The cumulative sales of fuel vehicles in the first 10 months were 171738, down 25% from 228983 in the previous year, which is also affected by the car market this year. However, in October this year compared with last month's 27048 vehicles achieved a month-on-month increase of 5.6%, you can see that the market has picked up slightly.

In contrast to the first half of the year, fuel vehicles developed better than new energy vehicles in the second half of the year, after Chairman Wang Chuanfu said that in order to "gradually ban the sale of fuel vehicles and achieve full electrification", but it has become particularly difficult in the current environment.

According to the third quarterly report of 2019 released by BYD shares, the company achieved a net profit of 120 million yuan attributable to listed shareholders in the third quarter, down 88.58% from the same period last year; deducting the net profit of non-attributable listed shareholders was a loss of 153 million yuan, down 130.12% from the same period last year. This is far below the industry's expected performance.

It is worth mentioning that in October this year, the Ministry of Industry and Information Technology issued a notice on the liquidation and examination of subsidy funds for the promotion and application of new energy vehicles in 2017. more than 200000 new energy vehicles applied for subsidies, involving 22.027 billion yuan in subsidy funds. among them, BYD received a subsidy of 3.461 billion yuan, and 30174 vehicles were declared and approved.

In the view of Shi Jianhua, deputy secretary-general of the China Automobile Association, the slowdown in China's auto market is an inevitable process. In the next three years, China's automobile market will operate at a low speed, and in this period of industrial adjustment, it will be a process of industrial transformation, survival of the fittest and improving industrial concentration. For the new energy leader, BYD will also continue to play its core to achieve a rebound in sales and performance.

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