BYD's vehicle deliveries in August were impacted by power constraints and Covid outbreaks. The company is aiming for 280,000 units of monthly deliveries by the end of the year.
BYD saw yet another record high in new energy vehicle (NEV) sales, further cementing its position as China's largest NEV maker despite the Covid and power crunch challenges.
The company sold 174,915 NEVs in August, its sixth consecutive record high month, according to a Hong Kong Stock Exchange announcement today.
That's up 184.84 percent from 61,409 units a year ago and up 7.62 percent from 162,530 units in July.
BYD's NEVs include passenger cars as well as commercial vehicles, and they sold 173,977 and 938 units in August, respectively.
Among these passenger vehicles, pure electric vehicle sales were 82,678 units, up 172.13 percent from 30,382 units in the same month last year. Plug-in hybrid vehicles were 91,299 units, up 203.06 percent from 30,126 units in the same month last year.
In August, BYD sold 5,092 NEVs in overseas markets, up 26.48 percent from 4,026 units in July. The company first announced its overseas sales figures for NEVs last month.
Notably, BYD's sales in August came amid challenges posed by power constraints and the Covid outbreaks in China.
BYD's car deliveries in August were affected by power crunches and the Covid epidemic, but were up compared to July, the company's chairman and president Wang Chuanfu said in a recent conference call, according to a report by local media Yiche today.
The company will aim to achieve a monthly delivery volume of 280,000 units by the end of the year, Wang said.
BYD currently has a backlog of 700,000 orders, and the current wait time for consumers who place orders to get deliveries is four to five months, according to Wang.
BYD stopped production and sales of cars powered entirely by internal combustion engines in March.
From January to August, BYD's cumulative NEV sales were 978,795 units, up 377.3 percent from 205,071 units in the same period last year.
BYD's year-to-date sales of pure electric passenger cars were 487,188 units, up 227.37 percent from 148,818 units in the same period last year, and 487,160 units of plug-in hybrid passenger cars, up 335.13 percent from 111,958 units in the same period last year.
In addition to being the largest NEV company in China, BYD is also the second largest power battery maker in China.
BYD's installed power and energy storage battery capacity in August was about 7.553 GWh, up 114.51 percent from 3.521 GWh in the same month last year and up 3.65 percent from 7.287 GWh in July.
So far this year, BYD's installed battery capacity is about 48.88 GWh, up 211.21 percent from 15.71 GWh in the same period last year.