BYD EV orders surge to ‘another level’ overseas from energy crisis

BYD expects soaring oil prices to drive overseas sales to “another level” as EV orders are already surging across several markets.

BYD raises 2026 overseas sales goal as EV orders soar

After it decided to stop making vehicles powered entirely by internal combustion engines in 2022, China’s BYD is reaping the benefits.

Last year, BYD sold more vehicles than Ford for the first time, ranking sixth in global EV sales. Now, amid rising tensions in the Middle East, the Chinese EV giant has acknowledged that higher oil and gas prices will likely boost EV sales.

BYD’s CEO Wang Chuanfu told analysts during a closed-door conference last week (via Nikkei) that the company expects soaring oil prices to drive overseas EV sales to “another level” in 2026.

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According to Wang, BYD is selling as many vehicles in one day as it normally would in two weeks in places like Australia, New Zealand, and the Philippines.

At the Bangkok Motor Show that ended on April 5, the largest auto show in Southeast Asia, BYD secured more orders than any brand during the 12-day event, followed by Toyota in second.

Even Thailand’s Prime Minister, Anutin Charnvirakul, was spotted driving a BYD Sealion 07 EV last week amid surging gas and oil prices.

BYD raised its overseas sales forecast for 2026 to 1.5 million vehicles, up 15% from the previous 1.3 million guidance.

Although March marked BYD’s seventh consecutive month of year-over-year sales declines, overseas markets have been a bright spot.

NEW: Thailand’s PM arrives at government house in personal EV as fuel prices climb amid Middle East war pic.twitter.com/33wXyCBXlO

— Insider Paper (@TheInsiderPaper) March 31, 2026

The company exported 120,083 new energy vehicles (NEVs) last month, including EVs and PHEVS, a 65% jump from March 2025.

Through the first three months of 2026, BYD has sold 321,165 vehicles overseas. With major overseas plants ramping up production in places like Hungary and Brazil, BYD said it’s “highly confident” it can hit its 1.5 million sales goal.

In March, overseas markets accounted for 40% of BYD’s total sales. It likely won’t be long before at least half of BYD’s sales come from outside of China.

In a note to investors, Bernstein analysts said that Chinese brands “with strong exposure to EVs or hybrids and a meaningful overseas presence are well-positioned to benefit if oil prices remain elevated for an extended period.”

The note added, “BYD is poised to gain from higher-margin overseas EV sales supported by its affordable lineup.”