BYD has announced impressive sales figures for New Energy Vehicles (NEVs) in September, marking its eighth consecutive month of sequential growth. According to a recent announcement on the Hong Kong Stock Exchange, BYD reported selling 287,454 NEVs in September alone, reflecting a remarkable 42.83 percent year-on-year increase and a 4.76 percent upswing from August.
This surge in NEV sales comes as a testament to BYD’s commitment to the electrification of its vehicle lineup. The company took a bold step in March 2022 by discontinuing the production and sale of vehicles powered solely by internal combustion engines, pivoting its focus toward plug-in hybrids and pure electric vehicles.
BYD’s NEV portfolio encompasses both passenger cars and commercial vehicles. In September, passenger NEV sales surged to 286,903 units, representing an impressive 42.76 percent increase compared to the same period last year and a 4.68 percent rise from the previous month’s sales of 274,086 units.
Commercial NEVs also experienced a substantial boost, with 511 units sold in September, marking a robust 92.66 percent year-on-year growth compared to the same month in 2022 and an 83.67 percent increase from August.
Breaking down the passenger NEV category further, battery electric vehicles (BEVs) proved to be a significant driver of growth, with 151,193 units sold in September. This reflects a substantial 59.25 percent increase from the previous year and a 3.82 percent uptick from August’s sales figure of 145,627 units.
Passenger plug-in hybrid vehicles (PHEVs) also contributed to BYD’s impressive performance, with 135,710 units sold in September. This marks a 27.99 percent year-on-year increase and a 5.64 percent month-on-month growth from August’s sales of 128,459 units.
Notably, BYD’s expansion into overseas markets has shown promise, with a record-breaking 28,039 NEVs sold in September, a 12.05 percent increase from the previous month.
For the entire third quarter of 2023, BYD achieved robust sales of 824,001 NEVs, reflecting a remarkable 52.96 percent year-on-year increase and a substantial 17.12 percent growth from the second quarter. Passenger NEVs constituted a significant portion of this success, with 822,094 units sold, marking a 53.04 percent year-on-year increase and a 17.4 percent rise from the second quarter.
In contrast, commercial NEVs saw a year-on-year increase of 23.83 percent but experienced a 42.51 percent decline from the second quarter, with 1,907 units sold in the third quarter.
The third quarter also witnessed strong performance in the passenger BEV category, with 431,603 units sold, reflecting a robust 66.89 percent year-on-year increase and a significant 22.56 percent growth from the second quarter. Meanwhile, passenger PHEVs accounted for 390,491 units sold in the third quarter, reflecting a 40.19 percent year-on-year increase and a 12.18 percent growth from the second quarter.
BYD’s global outreach efforts paid off, as the company recorded sales of 71,231 NEVs overseas in the third quarter, marking an impressive 100.28 percent increase from the second quarter.
BYD’s remarkable performance in the NEV market showcases its unwavering commitment to electrification and sustainability, positioning the company as a key player in the global transition to electric mobility.
