Chinese automaker BYD reported record-breaking new energy vehicle (NEV) sales in August, with plug-in hybrid electric vehicles (PHEVs) continuing to show robust growth. The company sold a total of 373,083 NEVs last month, surpassing its previous record of 342,383 units set in July.
This performance represents a significant year-on-year increase of 35.97% and a month-on-month growth of 8.97%. BYD’s focus on NEVs, which include both PHEVs and battery electric vehicles (BEVs), has been evident since March 2022 when the company ceased production of conventional internal combustion engine vehicles.
Passenger NEVs accounted for the majority of sales, with 370,854 units sold in August, up 35.31% year-on-year and 8.82% from July. Commercial NEVs saw a substantial increase, with 2,229 units sold, representing a 643% year-on-year growth and a 40.72% rise from the previous month.
BYD’s PHEV sales were particularly strong, reaching 222,384 units in August. This marks the sixth consecutive month of record sales for PHEVs since March and represents a 73.12% year-on-year increase. The growth in PHEV sales may be attributed in part to increased production capacity of models equipped with BYD’s latest DM 5.0 hybrid technology, introduced in May.
BEV sales also showed positive growth, with 148,470 units sold in August, up 1.95% year-on-year and 14.21% from July.
In overseas markets, BYD sold 31,451 vehicles in August, reflecting a 25.69% year-on-year increase and a 4.79% rise from July.
For the January-August period, BYD’s total NEV sales reached 2,328,449 units, a 29.92% increase compared to the same period last year. The company’s strong performance in both domestic and international markets continues to solidify its position as a leading player in the global NEV industry.
Source: CNEVPOST
