BYD Continues Record Growth in NEV Sales Overseas
BYD (HKG: 1211, OTCMKTS: BYDDY) experienced another month of growth in new energy vehicle (NEV) sales in April, with overseas sales reaching a new record high for the fifth consecutive month. The company sold a total of 380,089 NEVs in April, representing a 21.34 percent increase year-on-year and a 0.71 percent increase from the previous month.
In March 2022, BYD made the strategic decision to cease production and sales of vehicles powered solely by internal combustion engines, focusing instead on producing plug-in hybrids (PHEVs) and battery electric vehicles (BEVs).
The NEV sales figures for April included both passenger cars and commercial vehicles, with passenger NEV sales totaling 372,615 units, a 19.41 percent increase year-on-year and a 0.32 percent increase from March.
Commercial NEVs also saw a significant uptick in sales, with 7,474 units sold in April, marking the second consecutive month of record highs. This represented a staggering 524.39 percent increase year-on-year and a 24.55 percent increase from the previous month.
Within the passenger NEV category, BEVs saw a notable increase in sales, with 195,740 units sold in April, a 45.57 percent increase year-on-year and a 17.84 percent increase from March. On the other hand, sales of passenger PHEVs declined slightly, with 176,875 units sold in April, a 0.40 percent decrease year-on-year and a 13.85 percent decrease from March.
Overseas sales also continued to soar for BYD, with 79,086 NEVs sold in April, marking the company’s fifth consecutive record month. This represented a remarkable 92.84 percent increase year-on-year and an 8.75 percent increase from March.
In addition to being the largest NEV company in China, BYD is also the country’s second-largest power battery maker. The company’s installed base of power and energy storage batteries reached approximately 26.478 GWh in April, reflecting a 110.83 percent increase year-on-year and a 30.13 percent increase from March.
Cumulatively, BYD sold 1,380,893 NEVs in the January-April period, a 46.98 percent increase year-on-year. Passenger NEV sales totaled 1,358,713 units, a 45.09 percent increase year-on-year, while commercial NEVs sold 22,180 units, a substantial 624.36 percent increase year-on-year.
For the same period, BYD sold 612,128 passenger BEVs (up 40.86 percent year-on-year) and 746,585 passenger PHEVs (up 48.76 percent year-on-year). Overseas NEV sales in January-April reached 285,170 units, a 105.29 percent increase year-on-year.
BYD’s installed capacity of power and energy storage batteries in the January-April period totaled about 79.031 GWh, an 86.86 percent increase year-on-year.
With a target to sell 5.5 million cars in 2025, including over 800,000 in overseas markets, BYD continues to demonstrate strong growth and leadership in the NEV industry.
