In a recent report released by BYD, the Chinese automaker has achieved yet another milestone in global plug-in car sales, setting a new monthly record. However, the year-over-year growth rate indicates a potential deceleration in the ultra-growth trend.
According to the company’s data, BYD’s passenger plug-in car sales reached 261,105 units in July 2023, including 11,146 units of the premium Denza EVs. This figure represents a remarkable 61 percent increase compared to the same period last year. Despite the impressive performance, it is worth noting that this growth rate is the lowest since late 2020, suggesting a potential slowdown in the ultra-growth trend that the company has been experiencing.
Notably, the overwhelming majority of BYD’s sales continue to be in China, with exports accounting for only a small percentage of the total sales volume. The latest sales record is also the highest ever achieved by the company in its domestic market.
Driving the change: 262,161 NEVs sold in July 2023. Let's make the earth a better place to live. A softer, gentler planet.#BYD #electricvehicle #BuildYourDreams pic.twitter.com/TDlLkbcMJY
— BYD (@BYDCompany) August 1, 2023
Breaking down the sales figures, battery electric cars (BEVs) outpaced plug-in hybrid cars (PHEVs) once again. BEVs accounted for 134,783 units, showing a 66 percent increase year-over-year, while PHEVs reached 126,322 units, reflecting a 56 percent year-over-year growth. This indicates a continued preference for all-electric vehicles among consumers, as BEVs also demonstrated a higher growth rate compared to PHEVs.
In total, BYD sold 262,161 plug-in vehicles in July, which includes 1,056 commercial electric vehicles. Additionally, the company exported 18,169 plug-in vehicles during the same period.
Year-to-date, BYD’s sales of passenger plug-in electric cars exceeded 1.5 million units, representing an impressive 89 percent increase compared to the previous year.
Breaking down the year-to-date sales figures, BEVs accounted for 751,593 units (86 percent increase year-over-year), while PHEVs reached 757,673 units (91 percent increase year-over-year). The combined total of plug-in electric cars sold by BYD so far this year stands at 1,509,266 units, showing an 89 percent increase year-over-year.
It is worth noting that in 2022, BYD sold more than 1.85 million plug-in electric cars, bringing the cumulative number of BYD plug-in electric cars to over 4.8 million units.
BYD’s 12-month sales have already surpassed 2.56 million units, and the company is aiming to gradually move towards achieving a monthly sales target of 300,000 units. If the current sales trend continues, BYD is expected to exceed 3 million units in sales for the entire year of 2023.
The top two model families in BYD’s lineup are the Song family, which recorded 51,258 units (BEV + PHEV), and the Qin family, with 44,695 units (BEV + PHEV). The stand-alone all-electric BYD Dolphin model secured the third position with 31,950 units, followed closely by the BYD Yuan all-electric family with 31,456 units.
Notably, the all-new, all-electric microcar BYD Seagull achieved an impressive personal best result of 28,001 units in July, further adding to BYD’s successful sales performance.
