Chinese automaker BYD has reported another remarkable milestone in its electric vehicle sales, as the company achieved record-breaking numbers in October. The growth was particularly driven by its battery electric vehicle (BEV) models, demonstrating the surging demand for electric mobility.
BYD disclosed that it sold an impressive 301,833 New Energy Vehicles (NEVs) in October, marking the first time the company has surpassed the 300,000-unit mark. This achievement also represents the sixth consecutive month of record-high sales for BYD, according to data released by the company.
The figures reveal a substantial year-on-year increase of 38.57%, with October's sales rising 5% from the previous month. Impressively, this is the ninth consecutive month of growth for BYD in the NEV segment.
Notably, the company halted the production and sale of vehicles powered solely by internal combustion engines in March 2022, shifting its focus towards producing plug-in hybrid vehicles (PHEVs) and BEVs.
BYD's NEV offerings encompass a range of passenger cars and commercial vehicles. In October, the company saw passenger NEV sales exceed the 300,000-unit milestone, reaching a record 301,095 units. This represents a substantial increase of 38.42% compared to the same month in the previous year and a 4.95% rise from the previous month's figures, which stood at 286,903 units.
For commercial NEVs, BYD sold 738 units in October, indicating a remarkable year-on-year increase of 147.65% and a significant 33.94% growth from the previous month's sales of 551 units.
Breaking down the passenger NEV category, BEVs accounted for 165,505 units sold in October. This marks an impressive year-on-year growth of 60.44% and a 9.47% increase from September's sales figures of 151,193 units.
In the same month, BYD reported sales of 135,590 passenger PHEVs, reflecting an 18.56% increase from the previous year. However, there was a slight decrease of 0.09% compared to September's sales of 135,710 units.
Furthermore, BYD achieved record overseas NEV sales in October, totaling 30,521 units. This represents a remarkable year-on-year surge of 220.3% and an 8.85% increase from September's sales, which stood at 28,039 units.
For the period spanning January to October, BYD reported a total of 2,381,471 NEV sales, marking a substantial year-on-year growth of 70.36%.
Looking ahead, BYD has set ambitious targets, aiming to sell at least 3 million vehicles in the current year and striving to reach 3.6 million. These aspirations were articulated by the company's chairman and president, Wang Chuanfu, in late March. To achieve this, BYD will need to sell approximately 310,000 NEVs in each of the next two months.
During the January-October period, BYD sold 2,371,350 passenger NEVs, marking a 70.25% year-on-year increase. The company also sold 10,121 commercial NEVs during the same timeframe, reflecting a significant year-on-year growth of 101.17%.
Breaking down the passenger category, BYD sold 1,213,918 passenger BEVs in January-October, a substantial year-on-year increase of 77.14%. Additionally, the company sold 1,157,432 passenger PHEVs in the same period, reflecting a year-on-year growth of 63.58%.
BYD's overseas NEV sales in the January-October period amounted to 176,041 units, showing an impressive year-on-year increase of 919.64%.