BYD, a leading manufacturer of new energy vehicles (NEVs), reported strong sales in May, with a total of 382,476 vehicles sold. This figure represents a 15.27 percent increase compared to the same period last year and a slight 0.63 percent increase from the previous month.
The company has shifted its focus to producing plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs), ceasing the production of vehicles powered solely by internal combustion engines in March 2022. In May, BYD saw significant growth in overseas NEV sales, reaching 89,047 units, marking the sixth consecutive month of record-breaking sales. This represents a notable year-on-year increase of 137.46 percent and a month-on-month increase of 12.60 percent.
Within the NEV segment, passenger vehicles accounted for the majority of sales, with 376,930 units sold in May. This marks a 14.05 percent year-on-year increase and a 1.16 percent month-on-month increase. Commercial NEVs also saw a substantial year-on-year growth of 317.31 percent, although there was a 25.80 percent decrease in sales compared to the previous month.
In terms of passenger NEVs, BEVs outperformed PHEVs in May. Sales of passenger BEVs reached 204,369 units, showing a significant year-on-year increase of 39.60 percent and a month-on-month increase of 4.41 percent. On the other hand, passenger PHEV sales totaled 172,561 units, experiencing a 6.26 percent year-on-year decline and a 2.44 percent month-on-month decrease.
BYD’s power battery and energy storage battery installations also showed positive growth, totaling approximately 28.476 GWh in May. This represents a notable 101.12 percent year-on-year increase and a 7.55 percent month-on-month increase. In addition to being China’s largest NEV manufacturer, BYD is also the country’s second-largest power battery manufacturer.
Looking at the cumulative sales for the year so far, from January to May, BYD has sold a total of 1,763,369 NEVs, reflecting a 38.70 percent year-on-year increase. Passenger NEVs accounted for 1,735,643 units, with a 37.00 percent year-on-year increase, while commercial NEVs reached 27,726 units, showing a significant 531.43 percent year-on-year growth.
BYD’s ambitious sales target for 2025 is set at 5.5 million units, including more than 800,000 units in overseas markets. The company’s dedication to producing innovative NEVs and expanding its global reach positions it as a key player in the rapidly evolving electric vehicle market.
