BYD is increasing its global plug-in electric car sales, setting record after record. November was not an exception.
According to the company's report, last month, BYD passenger plug-in car sales amounted to 301,378 (including 11,843 Denza, 626 Fang Cheng Bao, and 408 Yangwang), which is 31% more than a year ago, and the best result ever.
Compared to October, the increase in sales was pretty small—just 283 units—but it's the seventh consecutive record and the second time when the volume exceeded 300,000 units in a single month.
The overwhelming majority of BYD sales are in China, while exports account for about 10 percent of the total result.
As we noted previously, the rate of year-over-year growth is consistently decreasing and currently is at the lowest level since mid-2020 (lockdowns), indicating that after becoming the largest automotive player in China, BYD must find other engines of growth.
November shows us that BYD is gradually moving from plug-in hybrids to all-electric cars, as BEVs represent the majority of the volume and are also growing much faster than PHEVs.
Last month, all-electric car sales reached a new record of 170,150 units, while plug-in hybrids were not able to beat its record from September, only slightly increasing year-over-year to 131,228.
BYD Group passenger plug-in car sales last month (YOY change):
- BEVs: 170,150 (up 49%)
- PHEVs: 131,228 (up 13%)
- Total: 301,378 (up 31%)
BYD also sold 525 commercial electric vehicles for a total of 301,903 plug-in vehicles last month. Out of the total number, some 30,629 BYD plug-ins were exported (another monthly record).
BYD plug-in electric car sales – November 2023
So far this year, BYD sold over 2.6 million passenger plug-in electric cars, which is 65 percent more than a year ago.
BYD Group passenger plug-in car sales year-to-date (YOY change):
- BEVs: 1,384,068 (up 73%)
- PHEVs: 1,288,660 (up 56%)
- Total: 2,672,728 (up 65%)
For reference, in 2022, BYD sold more than 1.85 million plug-in electric cars. The cumulative number of BYD plug-in electric cars is now more than 6 million units.
BYD's 12-month sales already exceeded 2.9 million units. The goal for 2023 is to sell 3 million rechargeable cars, which will require over 300,000 sales in the final month. According to Reuters, BYD has just announced discounts of up to $2,800 (20,000 CNY) to boost sales in China in December and achieve the annual goal.
Top models
The top nameplate in BYD's lineup continues to be the Song family with 61,694 units sold (mostly plug-in hybrids).
The all-electric BYD Seagull once again turned out to be the second most popular BYD, with 44,603 units, slightly ahead of the Qin family with 42,440 sales (BEV + PHEV) and the all-electric BYD Yuan family (42,323 units), also known as Atto 3 outside of China.
The all-electric BYD Dolphin noted 35,246 sales last month, while other models were significantly behind, mostly below 20,000.
