BYD Achieves Record Sales of NEVs in October
BYD, a leading Chinese electric vehicle manufacturer, reported impressive sales figures for the month of October. The company sold a total of 502,657 new energy vehicles (NEVs), marking the first time it surpassed the 500,000 mark and achieving a record high for the fifth consecutive month.
This figure represents a significant increase of 66.53 percent compared to the same period last year and a 19.84 percent growth from September. BYD made the strategic decision to discontinue the production and sale of vehicles powered solely by internal combustion engines in March 2022, focusing instead on plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs).
The NEV sales comprised both passenger cars and commercial vehicles, with passenger NEVs accounting for 500,526 units sold in October. This segment saw a 66.24 percent year-on-year growth and a 19.86 percent increase from the previous month. Additionally, commercial NEVs recorded sales of 2,131 units, marking an impressive 188.75 percent growth from the previous year.
In terms of passenger NEVs, BYD sold 189,614 units of BEVs in October, demonstrating a 14.57 percent increase from the previous year and a 14.95 percent growth from September. The company also reported strong sales of passenger PHEVs, with 310,912 units sold in October – the eighth consecutive record high since March. This segment saw a remarkable 129.30 percent year-on-year increase and a 23.06 percent growth from September.
In the overseas market, BYD sold 31,192 vehicles in October, representing a 2.20 percent year-on-year increase but a 5.51 percent decrease from September. Of the total overseas sales, 28,012 units were exported from China, marking the first time BYD has disclosed export figures.
Aside from its achievements in the NEV sector, BYD is also a major player in China’s power battery market. The company’s installed base of power and energy storage batteries reached approximately 21.018 GWh in October, reflecting a 37.50 percent year-on-year increase and a 6.15 percent growth from September.
In the January-October period, BYD’s NEV sales totaled 3,250,532 units, marking a 36.49 percent year-on-year increase. Passenger NEVs accounted for 3,236,927 units sold during this period, with commercial NEVs contributing 13,605 units. The company’s passenger BEVs and PHEVs saw sales of 1,359,193 units and 1,877,734 units, respectively, in the first ten months of the year.
Furthermore, BYD reported overseas sales of 329,073 units in January-October, representing an 86.93 percent year-on-year increase. The company’s installed capacity of power and energy storage batteries amounted to about 148.738 GWh during this period, reflecting a 27.98 percent year-on-year growth.
Overall, BYD’s impressive performance in the NEV sector and its continued focus on innovation and sustainability position the company as a key player in the global electric vehicle market.
