Chinese automaker BYD reported record-breaking sales of 506,804 new energy vehicles (NEVs) in November, marking its second time surpassing the 500,000-unit milestone. This represents a 67.87% increase from 301,903 units sold in November 2022 and a slight rise of 0.83% compared to October’s 502,657 units.
BYD, which ceased production of fully internal combustion engine vehicles in March 2022, has focused exclusively on plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). In November, passenger NEVs accounted for 504,003 units, a year-on-year increase of 67.23%. Commercial NEVs, though a smaller segment, saw a sharp rise of 433.52% year-on-year, with 2,801 units sold.
Among its passenger models, BEVs saw modest growth with 198,065 units sold in November, up 16.41% year-on-year. Meanwhile, PHEVs remained a key growth driver, selling 305,938 units, a 133.13% increase from the prior year, though slightly lower than October’s figures. Overseas markets contributed 30,977 units to November sales, reflecting a year-on-year increase of 1.14%.
BYD’s cumulative NEV sales for the first eleven months of 2024 reached 3.76 million units, a 40.02% increase year-on-year. This includes 1.56 million passenger BEVs and 2.18 million passenger PHEVs, which grew 12.51% and 69.45%, respectively. Overseas markets accounted for 360,050 units during this period, representing a robust 74.21% growth year-on-year.
As China’s largest NEV manufacturer and its second-largest power battery producer, BYD also reported an installed base of 22.472 GWh of power and energy storage batteries in November, up 32.62% year-on-year. For the January-November period, this figure reached 171.210 GWh, an increase of 28.57% compared to the same period last year.
