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.
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.
