BYD, a leading Chinese electric vehicle manufacturer, achieved record sales in June 2024. They surpassed their previous record set in December 2023 by selling a total of 341,658 plug-in vehicles, a 35% increase year-over-year. This includes both passenger cars and commercial vehicles.
While sales of all-electric vehicles (BEVs) experienced a slight dip compared to May, BYD still saw a 13% year-over-year increase, reaching 145,179 units. The company’s main growth driver came from plug-in hybrids (PHEVs), with sales reaching 195,032 units, a significant 58% increase year-over-year. This marks BYD’s fourth consecutive month of record PHEV sales.
BYD’s international market also saw significant growth, with overseas sales reaching 26,995 vehicles, a staggering 156% increase compared to June 2023. This represents nearly 8% of their total sales volume.
The second quarter of 2024 proved to be a banner period for BYD. They sold a record-breaking 982,747 passenger plug-in electric cars, a remarkable 40% increase year-over-year. This achievement solidifies BYD’s position as the world’s leading seller of rechargeable vehicles. While competition remains fierce, BYD is well-positioned, especially considering Tesla’s sales figures haven’t been released yet (expected July 2nd, 2024).
Looking at the first half of 2024, BYD’s sales surpassed 1.6 million passenger plug-in electric cars, a 29% increase over the same period in 2023. This includes 726,153 BEVs (up 18%) and a significant rise of 40% for PHEVs (880,992 units).
Building on their success in 2023, where they became the largest Chinese carmaker and brand by selling over 3 million plug-in cars (a 62% increase from 2022), BYD aims for an average growth rate exceeding 20% in 2024. This suggests even stronger results in the coming months.
