BYD has just set another monthly record for global plug-in car sales, but its year-over-year growth rate is declining, which seems to indicate that the ultra-growth potential is ending.
According to the company’s report, in July, BYD passenger plug-in car sales amounted to 261,105 (including 11,146 Denza premium EVs), which is 61 percent more than a year ago (the lowest growth rate since late 2020).
The overwhelming majority of BYD sales are in China, while exports stand for several percent of the total result.
That’s an all-time record (the previous one was 251,685 units in June 2023) and the highest result in China.
For us, the most interesting thing is that battery electric car (BEV) sales once again outpaced plug-in hybrid car sales (PHEV) – 134,783 to 126,322. BEVs were also growing faster than PHEVs.
BYD plug-in car sales results:
- BEVs: 134,783 (up 66% year-over-year)
- PHEVs: 126,322 (up 56% year-over-year)
- Total: 261,105 (up 61% year-over-year)
BYD also sold 1,056 commercial electric vehicles for a total of 262,161 plug-in vehicles last month. Out of the total number, some 18,169 BYD plug-ins were exported.
So far this year, BYD sold over 1.5 million passenger plug-in electric cars, which is 89 percent more than a year ago.
BYD plug-in sales year-to-date:
- BEVs: 751,593 (up 86% year-over-year)
- PHEVs: 757,673 (up 91% year-over-year)
- Total: 1,509,266 (up 89% year-over-year)
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 4.8 million units.
BYD’s 12-month sales already exceeded 2.56 million units. The company is now expected to gradually move towards 300,000 units a month. Sales in 2023 potentially will exceed 3 million.
The top two model families in BYD’s lineup were the Song family with 51,258 units (BEV + PHEV) and the Qin family with 44,695 (BEV + PHEV). The third best is the stand-alone all-electric BYD Dolphin model (31,950 units), followed by the BYD Yuan all-electric family (31,456).
The all-new, all-electric microcar BYD Seagull noted its new personal best result of 28,001 units.
