BYD reported a rare year-on-year decline in new energy vehicle (NEV) sales in September, as falling demand for plug-in hybrid electric vehicles (PHEVs) weighed on overall performance.
The company sold 396,270 NEVs last month, down 5.52% from a year earlier but up 6.06% from August, according to data released on Tuesday. It marked BYD’s first year-on-year drop in monthly NEV sales since March 2024, following two months of growth below 1%.
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Passenger NEV sales fell 5.88% year-on-year to 393,060 units, though they rose 5.80% from August. Commercial NEVs rose sharply to 3,210 units, up 76.08% from a year earlier and 51.06% from the prior month.
Battery electric vehicle (BEV) sales climbed 24.31% year-on-year to 205,050 units, while PHEV sales fell 25.58% to 188,010 units, marking the sixth straight month of annual decline. Month-on-month, PHEV sales gained 9.36%.
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Overseas sales totaled 71,256 units in September, up 115.85% year-on-year but down 11.83% from August.
BYD also reported September installations of power and energy storage batteries of about 23.20 GWh, an increase of 17.17% year-on-year and 0.11% month-on-month.
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