Chinese carmaker BYD achieves record plug-in sales in October 2023

Chinese carmaker BYD achieves record plug-in sales in October 2023

BYD Limited, a publicly listed Chinese automobile manufacturing company headquartered in the Shenzhen area of China, has broken its own plug-in electric car sales record for the sixth consecutive time in October 2023, exceeding 300,000 units for the first time. According to stats released by BYD, the company’s passenger plug-in car sales amounted to a total of 301,095 units last month (including 11,500 units of Denza premium EVs). This figure represents a growth of 38 per cent year-over-year.

The vast majority of the Chinese automaker’s sales remained concentrated within its home market of China, as merely 10 per cent of its total sales stemmed from exports. Although the company’s year-over-year growth rate in terms of sales has been gradually tapering off, it is not unexpected given the massive scale of its operations.

One particularly interesting trend found in the newly released figures is the substantial increase in sales of all-electric vehicles (BEVs), which reached 165,505 units in the previous month. This figure marks a 60 per cent surge when we compare it with the figure recorded in October last year. In contrast, plug-in hybrid Vehicles (PHEVs) lagged far behind with a total of 135,590 units sold. Interestingly, PHEVs failed to surpass September month's sales record of 135,700 units. Their year-over-year growth rate also remained comparatively lower, standing at just around 19 per cent.

It is worth mention here that BYD made a significant shift in March last year by discontinuing sales of non-rechargeable cars in order to focus more on BEVs.

Additionally, the company achieved remarkable success in the commercial EV segment. It sold 738 units of commercial EVs, contributing to a total of 301,833 units of plug-in vehicles sold last month. A record-breaking 30,521 BYD plug-in vehicles were exported as part of the given total.

When it comes to year-to-date (YTD) sales, the automaker delivered more than 2.37 million passenger plug-in electric cars, representing an increase of 70 per cent year-over-year. To be more specific, it sold 1,213,918 units of BEVs, and 1,157,432 units of PHEVs. In total, the company achieved sales of 2,371,350 passenger plug-in electric car sales. Notably, these figures have already surpassed the brand’s last year sales of over 1.85 million plug-in electric cars. The cumulative number of plug-in electric vehicles sold by the brand now stands at more than 5.7 million units.

The aforementioned stats not only reflect BYD’s dedication to sustainable transportation but also underscores its expanding influence in the global market, highlighting its continuous success in the EV sector.

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