BYD Group, a leading new energy vehicle (NEV) maker, saw a significant rebound in NEV sales in February after the Chinese New Year holiday period. The company reported sales of 322,846 NEVs in February, marking a 163.95 percent increase from the same month last year and a 7.42 percent increase from January.
Typically, the beginning of the year is a slow period for China’s auto industry, especially during the Chinese New Year holiday. This year, the holiday fell from January 28 to February 4, compared to February 10-17 last year. Despite this, BYD managed to achieve impressive sales figures.
In the January-February period, BYD Group’s total NEV sales amounted to 623,384 units, reflecting a 92.52 percent year-on-year increase. The company made a strategic decision to cease production and sales of vehicles powered solely by internal combustion engines in March 2022, shifting its focus to producing plug-in hybrid electric vehicle (PHEV) and battery electric vehicle (BEV) models.
BYD’s NEV portfolio includes passenger cars and commercial vehicles, with passenger NEV sales totaling 318,233 units in February, a 161.39 percent increase year-on-year. Commercial NEV sales also saw a significant surge, with 4,613 units sold in February, representing a 719.36 percent increase from the previous year.
In terms of overseas markets, BYD continued its strong performance by selling 67,025 NEVs in February, marking the third consecutive month of record highs. This represents a 187.77 percent year-on-year increase and a 1.04 percent increase from January. In the January-February period, BYD sold a total of 133,361 NEVs in overseas markets, up 124.27 percent year-on-year.
The BYD Group encompasses various automobile brands, including BYD, Denza, Fang Cheng Bao, and Yangwang. The flagship BYD brand, featuring the Dynasty and Ocean series, sold 304,673 NEVs in February, a 167.12 percent year-on-year increase. Denza, another brand under the BYD Group, reported NEV sales of 8,513 units in February, up 85.15 percent year-on-year.
Fang Cheng Bao and Yangwang also saw positive sales figures in February, with 4,942 and 105 units sold, respectively. Despite some fluctuations in monthly sales, these brands maintained a steady performance in the overall January-February period.
Overall, BYD Group’s strong sales performance in the NEV market underscores its commitment to sustainable mobility and innovation. With a diverse portfolio of electric vehicles and a growing presence in overseas markets, BYD continues to solidify its position as a key player in the global automotive industry.
