BYD sold 88,898 passenger vehicles in October, increasing 90.9% year on year (YoY) and 12.5% month on month, according to the official data. In particular, the New Energy Vehicle (NEV) sales reached 80,003 units, soaring 262.9% YoY. By the end of October, the cumulative annual sales of BYD passenger vehicles topped 200,000 units.
The continued contribution of the DM-i technology fueled further success for the DM model, which saw 38,771 units sold in October, up 444.1% YoY, positioning BYD as a dominant player in China’s plug-in hybrid vehicles market. Globally, the DM-i model also holds an important position. The Qin Plus DM-i and Song Plus DM-i took the 4th and 8th places, among PHEV market worldwide in August with sales of 13,043 and 8,731 units respectively, according to data from EV SALES/EV VOLUME.
BYD battery-electric vehicles (BEV) witnessed steady growth in sales with 41,232 units sold in October, holding its leadership in a fast-growing local BEV market.
BYD Han, the flagship NEV sedan of the Dynasty series, sold 11,087 units in October. According to China Passenger Car Association (CPCA), BYD Han ranked second among the sales rankings of mid-to-large size sedans, with sales of 10,248 units in September. So far, BYD Han’s cumulative sales have exceeded 130,000 units, with increases for seven consecutive months.
BYD e-platform 3.0 solves battery-related safety problems of the NEV and increases its range at low temperatures. It will alter people’s stereotype of BEVs. EA1, the very first model built upon this platform also enjoyed popularity in the market with 6,018 units sold in October, becoming the biggest contributor to the market for NEVs priced at around RMB 100,000.
On October 28th, BYD released its financial report for the Q3 2021. According to the report, BYD achieved operating revenue of 54.306 billion RMB in Q3 2021, a YoY increase of 21.98%. Most notably, the company invested over 5.23 billion RMB in R&D during the first three quarters.
The first ten months of the year saw drops in different levels of sales in the auto market, owing to chip shortages across the auto industry. Nevertheless, BYD has continuously attained higher sales records, thanks to its core technologies such as the Blade Battery, the DM-i technology, and e-platform 3.0, becoming the biggest dark horse in the Chinese and even global NEV markets.