BYD, China's premier new energy vehicle (NEV) manufacturer, revealed a remarkable achievement for the month of August. The company reported sales of 274,386 NEVs, setting a new record high. This figure represents a significant year-on-year increase of 56.87 percent and a modest month-on-month growth of 4.66 percent. This achievement marks the seventh consecutive month of sequential sales growth for BYD.
For the period spanning January to August, BYD sold a total of 1,792,184 NEVs, reflecting an impressive year-on-year growth rate of 83.10 percent. This remarkable performance underscores BYD's commitment to its transition from traditional internal combustion engine vehicles to a focus on producing plug-in hybrids and pure electric vehicles.
BYD's NEV portfolio encompasses both passenger cars and commercial vehicles. In August, passenger car sales reached 274,086 units, marking a substantial year-on-year increase of 57.54 percent compared to 173,977 units sold the previous year. Additionally, passenger car sales in August also grew by 4.97 percent compared to the preceding month, totaling 261,105 units in July.
In contrast, commercial NEV sales for BYD amounted to 300 units in August, a decline of 68.02 percent compared to the same month in the previous year and a substantial drop of 71.59 percent compared to July's sales figures, which stood at 1,056 units.
Within the passenger NEV category, battery electric vehicles (BEVs) were particularly successful, with sales of 145,627 units in August. This represents a remarkable year-on-year increase of 76.14 percent, compared to 82,678 units sold the previous year. Additionally, BEV sales experienced a month-on-month growth of 8.05 percent, up from 134,783 units in July.
BYD's passenger plug-in hybrids (PHEVs) also exhibited positive growth trends, with sales of 128,459 units in August. This reflects a year-on-year increase of 40.70 percent compared to 91,299 units sold the previous year. On a month-to-month basis, PHEV sales grew by 1.69 percent, up from 126,322 units in July.
Internationally, BYD continued to expand its market presence, selling 25,023 NEVs in overseas markets in August, marking a 37.72 percent increase from the previous month when 18,169 units were sold. This was the first time the company disclosed its overseas NEV sales figures in 2022, highlighting its global ambitions.
Aside from its status as China's largest NEV manufacturer, BYD also holds the position of China's second-largest power battery manufacturer, trailing only CATL. In August, BYD's installed base of power and energy storage batteries reached approximately 13.928 GWh, indicating a remarkable year-on-year increase of 84.40 percent compared to 7.553 GWh in the previous year. Month-on-month, there was a notable growth of 12.27 percent, up from 12.406 GWh in July.
BYD's ambitions for the year remain high, with the company's chairman and president, Wang Chuanfu, expressing the goal of selling at least 3 million vehicles in 2023, with aspirations to reach 3.6 million units by year-end. This impressive performance and continued growth signify BYD's pivotal role in the global transition toward sustainable transportation solutions.