52% are hybrids
BYD sells significantly more cars than Tesla
BYD electric vehicle sales reached 264,647 units in the first quarter, up 87% from last year. EVs accounted for 48% of total sales overall. Meanwhile, hybrid sales, which account for 52% of sales, reached 283,270 units in the same period, up 90% from last year. In addition, BYD sold 38,723 electric vehicles overseas in the first quarter, up 14 times from the previous year.
Denza sold 24,162 vehicles in the first quarter of 2023, up 146% from the fourth quarter of 2022. Denza is a high-end electric vehicle brand jointly owned by BYD and Mercedes Benz. Last week, BYD introduced the new Denza N8 crossover , which in fact became a deeply modernized version of the BYD Tang model.
Over the weekend, the electric vehicle maker released a report on vehicle production and shipments for the first quarter of 2023. Tesla beat Wall Street’s expectations and set a new quarterly record with more than 440,000 vehicles shipped.
