BYD had its best month in history with sales reaching record levels

The company plans to sell 3 million cars per year

BYD increases global sales of electric vehicles, setting record after record. November was no exception.

According to the company’s report, BYD’s plug-in passenger car sales totaled 301,378 last month (including 11,843 Denza, 626 Fang Cheng Bao and 408 Yangwang), up 31% year-on-year and the best ever.

Compared to October, the increase in sales was quite small – only 283 units, but this was the seventh record in a row and the second time that volume exceeded 300,000 units in a single month. The vast majority of BYD’s sales come from China, with exports accounting for about 10% of the total.

BYD
BYD

BYD had its best month in history with sales reaching record levels

November shows us that BYD is gradually moving from plug-in hybrids to all-electric vehicles, as BEVs make up the majority of volume and are growing much faster than PHEVs. Sales of all-electric vehicles hit a new record of 170,150 units last month, while plug-in hybrids failed to beat September’s record, rising year-on-year to 131,228 units.

BYD Group passenger car sales last month (change from last year):

BEV – 170,150 (49% increase);

PHEV – 131,228 (up 13%);

Total – 301,378 (an increase of 31%).

BYD Group passenger car sales since the beginning of the year (change compared to last year):

BEV – 1,384,068 (73% increase);

PHEV – 1,288,660 (up 56%);

Total – 2,672,728 (an increase of 65%).

For reference, BYD sold more than 1.85 million plug-in electric vehicles in 2022. BYD’s cumulative number of plug-in electric vehicles now exceeds 6 million units.

BYD’s 12-month sales have already exceeded 2.9 million units. The 2023 goal is to sell 3 million rechargeable vehicles, which would require selling more than 300,000 in the final month. According to Reuters, BYD just announced discounts of up to US$2,800 to boost sales in China in December and hit its full-year target.

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