BYD, a leading electric vehicle manufacturer, achieved a significant milestone in December by surpassing 4 million units in annual sales for the first time. The company’s focus on new energy vehicles (NEVs) paid off as it sold a total of 514,809 NEVs in December alone, marking the third time it has exceeded the 500,000 mark in a single month.
This achievement also represents the seventh consecutive month of record sales for BYD, showcasing its growing popularity in the electric vehicle market. The company made a strategic decision to transition away from internal combustion engine vehicles in March 2022, instead focusing on plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs).
In December, BYD saw a 50.95 percent increase in NEV sales compared to the same period last year, with passenger NEVs accounting for the majority of the sales. Passenger NEVs reached a record 509,440 units in December, reflecting a 49.76 percent year-on-year increase and a 1.08 percent rise from November.
On the commercial side, BYD’s commercial NEVs also experienced a surge in sales, reaching a record 5,369 units in December. This marked a significant 520.69 percent increase from the previous year and a 91.68 percent increase from November.
In terms of specific vehicle types, BYD sold 207,734 units of passenger BEVs in December, an 8.90 percent increase from the previous year. Meanwhile, sales of passenger PHEVs amounted to 301,706 units, representing a 101.91 percent year-on-year increase.
BYD’s success extended beyond the domestic market, with 57,154 vehicles sold in overseas markets in December, marking a 58.34 percent year-on-year increase. Additionally, the company’s installed base of power and energy storage batteries reached approximately 23.495 GWh in December, reflecting a 32.40 percent year-on-year increase.
Looking at the fourth quarter performance, BYD achieved record sales of 1,524,270 NEVs, up 61.34 percent year-on-year. Passenger NEVs accounted for a significant portion of these sales, reaching a record 1,513,969 units in the fourth quarter.
Commercial NEVs also saw a substantial increase in sales, with 10,301 units sold in the fourth quarter. Passenger BEVs and PHEVs performed well, selling 595,413 and 918,556 units respectively in the same period.
BYD’s overseas market presence continued to grow, with 119,323 NEVs sold in the fourth quarter. The company’s installed capacity of power and energy storage batteries also saw a significant increase, reaching about 66.985 GWh in the fourth quarter.
For the full year of 2024, BYD’s NEV sales totaled 4,272,145 units, representing a 41.26 percent year-on-year increase. Passenger NEVs accounted for the majority of these sales, with 4,250,370 units sold in 2024. Commercial NEVs, passenger BEVs, and PHEVs also contributed to the overall sales growth.
In addition to being China’s largest NEV maker, BYD is also the country’s second-largest power battery maker. The company’s commitment to innovation and sustainability has solidified its position as a key player in the electric vehicle industry.
