BYD’s growth has been exponential, and last year, it was the sixth-largest carmaker by volume, selling an incredible 4.27 million vehicles. This year, BYD is targeting 30% growth and is pushing to sell as many as 5.5 million cars. However, unnamed sources claim the company’s expansion has slowed in recent months, and it has reduced production at some of its factories.

It’s claimed that BYD has cut night shifts at some of its factories while also reducing output by at least a third. These changes have reportedly been made at four factories, at least. In addition, BYD is believed to have suspended plans to set up several new production lines.

Read: This Country Faces A Cheap EV Invasion That Could Destroy Its Auto Industry

Sources speaking with Reuters did not specify the exact scale of the production reduction, but one said the moves were being made because BYD’s sales have failed to meet its targets, while another suggested the company is looking to reduce costs.

Growing Pains

In April, the growth of BYD’s global output had slowed to 13% year-over-year, and in May, it slowed to 0.2%. These were the slowest growth rates the company has seen since February 2024. In addition, the China Association of Automobile Manufacturers’ data has revealed that BYD’s average output in April and May was 29% lower than in the fourth quarter of 2024.

BYD’s incredible expansion has put many legacy car brands on notice in key markets worldwide. With an ever-growing range of competitively priced models, BYD has triggered an industry-crushing price war. While this has helped to drive up sales, it has also increased inventories. In China, BYD dealers held an average inventory of 3.21 months, significantly above the local industry average of 1.38 months, and the highest of all brands in China.

One major BYD dealer was recently forced to close 20 dealerships across the country. Soaring inventories have also prompted the China Auto Dealers Chamber of Commerce to tell carmakers to stop offloading so many cars and to set production targets in line with sales.

A Profitable, Yet Bumpy Ride

In March this year, BYD announced that its annual revenue for 2024 reached 777 billion yuan ($108.3 billion), surpassing Tesla’s $97.7 billion. This marked a 29% increase from the previous year, driven largely by strong hybrid vehicle sales, positioning BYD as the new leader in the electrified market.

Summer is just around the corner, and while that’s good news for many, the bad news is that price hikes across most major car brands are also seemingly just around the corner. Thankfully, Costco is once again rolling out limited-time discounts on select Chevrolet, Cadillac, and GMC models, offering savings of up to $1,250 for members.

The Costco Auto Program is meant to simplify car buying by sidestepping dealership haggling and offering fixed discounts to members. Between June 3 and July 31, Gold Star and Business members can shave $1,000 off eligible models. Executive members get a slightly larger discount of up to $1,250.

Read: Costco Offers Up To $2,000 Off New Audis

To benefit, members need to visit the Costco website, register their details, select their preferred model, and then be sent a savings certificate with a unique promo code. Shoppers will then get the discount when they present this certificate at any of the dealers from the three brands. But not all models are eligible.

At Chevrolet, the $1,000 and $1,250 discounts are available for the Colorado, Silverado EV, Blazer EV, and Equinox EV. There are also savings valued at up to $3,000 for the Chevrolet BrightDrop 400 and BrightDrop 600 delivery vans, but only businesses are expected to purchase them.

Over at GMC, the Sierra EV, Hummer EV Pickup, and Hummer EV SUV are the three models available with the new Costco incentives. Then there’s Cadillac, where only the all-electric Optiq and Vistiq are eligible. Importantly, the Costco savings can be stacked with any other incentive a buyer may be eligible for.

For those thinking about signing up for Costco just to take advantage of this offer, the timing won’t work out. Eligibility requires an active membership as of June 2, so new sign-ups won’t be able to use the discount this time around.

Tesla’s Cybertruck is a big silver sales flop and that’s given the company several problems, including working out what to do with all the electric pickups it can’t sell. Some of those trucks ended up stored at a run-down mall in Farmington Hills outside of Detroit in Michigan. Unsurprisingly, local officials are not happy about it.

Dozens of Cybertrucks and some other Tesla models are currently occupying several rows of parking bays at the Hunter’s Square shopping center, Crain’s Detroit Business reports. The lot is home to a now-closed Bed, Bath and Beyond, an also-shuttered Torrid, and a Buffalo Wild Wings restaurant that’s still open, and has plenty of space for the EVs. But using the land for vehicle storage is against city code.

Related: Cybertruck Owners Can’t Believe Tesla’s Trade-In Values

The shopping center landlord has already been informed of the violation, according to comments made by Charmaine Kettler-Schmult, director of planning and community development for Farmington Hills, Michigan to CDB. But she admitted to reporters that the enforcement process “takes time.”

The report notes Tesla recently opened a brand new showroom close to the Hunter’s Square shopping center in West Bloomfield, which could be the source of the idled Cybertrucks. Crain’s Detroit Business reached out to both the registered owner of that site and the landlord of Hunter’s Square, which is due to get a major overhaul, but neither responded.

Tesla CEO Elon Musk once bragged of having 1 million reservations for the Cybertruck, but the much-delayed EV has failed to live up to sales expectations since its official debut in late 2023. Only 40,000 were sold last year, well short of the 250,000 Tesla predicted, according to Forbes. And recently the Cybertruck was outperformed by its more conventional-looking Ford F-150 Lightning rival.

More: What Happened To Musk’s 1 Million Cybertruck Reservations?

Tesla has made moves to open up the Cybetruck’s appeal, however. In April it finally unveiled a single-motor, rear-wheel drive, entry-level model for $69,990 and buyers of other grades have been offered discounts, lease deals and free supercharging.

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