BYD EV sales

Company News

by Glenn Dyer

Chinese EV giant BYD sold and exported a total of 626,263 new energy vehicles in the first three months of this year -- the highest first quarter figure so far.

After a weak performance in January and February (the latter impacted by the Lunar New Year break), sales rebounded in March to the second highest monthly figure on record for the company -- 302,459, and just behind last December's 341,043 units.

Because of the timing of New Year, March was up 147.3 per cent from February's 122,311, but was 46 per cent higher than March 2023’s 207,080.

BYD sold a total of 624,398 passenger NEV in the first quarter, up 14 per cent year-on-year while down 33.7 per cent from the fourth quarter of last year.

BYD said it again sold more PHEVs (plug-in hybrids) than BEVS in the first quarter,  with sales of passenger PHEVs totalling 324,284 units, up 14.5 per cent year-on-year, but down 22.09 percent from the fourth quarter of last year.

BYD sold 300,114 passenger BEVs in the first quarter, up 13.4 per cent year-on-year but also down from the fourth quarter last year (by 43 per cent).

In March, a similar story with sales of passenger PHEVS (plug-in hybrids) topping BEVS with 161,729 units sold in March, up 56.4 per cent from a year ago and 142 per cent above February’s level. BYD said sales of BEVs last month amounted to 139,902 units, up 36 per cent from a year earlier and 155 per cent higher than in February.

Exports of NEVs in the first quarter jumped to 97,899 units, up 152.8 per cent year on year but unchanged from 97,245 in the fourth quarter of last year.

March was the strongest month for exports (most of which go to Russia) shipping 38,434 vehicles to overseas markets, surpassing the previous record of 36,174 in January. That was up 65 per cent from February (because of the New Year holiday).

Tesla is due to reveal its first quarter global production and sales figures. It usually doesn’t break down the data, so the figures for its China sales and exports for the first quarter and March will have to come from the China car industry bodies.

Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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