BYD sold over half million vehicles for the first time in October

BYD sold 500,526 electric passenger vehicles in October, up 66% from 301,095 the previous year and up 20% from the 417,603 units last month.

Year-to-date (January – October), BYD sold 3,236,927 electric cars, up 36% from the same period last year. BYD’s official target is to deliver 3.6 million vehicles in 2024. The company denied it internally raised the target to 4 million units in September.

The released sales data shows new energy vehicles (NEVs), which are Chinese terms for all-electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs). Specifically, it also includes FCEVs (hydrogen), but those sales are almost non-existent in China, and BYD doesn’t sell any FCEVs. BYD ceased sales of entirely ICE cars in April 2022.

Total NEV sales, including commercial vehicles, were 502,657 units. Production was 536,134 units, and cumulative production in 2024 (January – October) reached 3,283,439 units.

BYD’s overseas sales of new energy passenger vehicles reached 31,192 units, and the company claims that 28,012 units have already been exported.

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For the same month, BYD’s EV and energy storage battery installations totaled approximately 21.018 GWh, bringing the cumulative installed capacity in 2024 to about 148.738 GWh.

The brand share of all-electric vehicles continued decreasing in October. BYD sold 189,614 all-electric passenger vehicles, which made up 37.9% of the sales in October, down 1.6% from 39.5% in September.

PHEV sales were 310,912, contributing 62.1% share, up 2.1% from the 60.0% in September. Last year, in October 2023, PHEV’s share was only 45% and decreased even to 43.5% in November.

Since PHEV sales surpassed BEV sales in BYD’s lineup in February this year, PHEVs have continued to make up a larger share of the company’s total sales.

Sales vs production

To sum it up, BYD sold 502,657 vehicles in October, including:

• 500,526 passenger NEVs
  • 189,614 passenger BEVs
  • 310,912 passenger PHEVs
• 2,131 commercial NEVs
  • 1,693 other vehicles
  • 438 buses

While it produced 536,134 vehicles, including:

• 534,003 passenger NEVs
  • 206,499 passenger BEVs
  • 327,504 passenger PHEVs
• 2,131 commercial NEVs
  • 1,693 other vehicles
  • 438 buses