sold 3,012,906 passenger NEVs in 2023, including 1,574,822 BEVs, 1,438,084 PHEVs.

BYD (OTCMKTS: BYDDF) sold a record number of new energy vehicles (NEVs) in December, reaching its full-year 2023 target of 3 million units.

Strong year-end sales saw BYD also post record NEV sales in the fourth quarter, with quarterly sales growth of battery electric vehicles (BEVs) particularly strong.

With its internationalization strategy advancing, BYD posted new record sales overseas in December.

December performance

BYD sold 341,043 NEVs in December, its eighth consecutive record month, according to a Shenzhen Stock Exchange announcement today. That's up 45 percent year-on-year and up 12.96 percent from November.

The company ceased production and sales of vehicles powered entirely by internal combustion engines in March 2022, switching to a focus on producing plug-in hybrids and pure electric vehicles.

BYD's NEVs include passenger cars as well as commercial vehicles, with passenger NEVs selling 340,178 units in December, up 45 percent from 234,598 units a year earlier and up 12.87 percent from 301,378 units in November.

BYD's commercial NEVs sold 865 units in December, up 44.41 percent from 599 units in the same month last year and up 64.76 percent from 525 units in November.

Among passenger NEVs, BEVs sold 190,754 units in December, up 70.41 percent from 111,939 units in the same month last year and up 12.11 percent from 170,150 units in November.

BYD's sales of passenger plug-in hybrid vehicles (PHEVs) in December were 149,424 units, up 21.82 percent from 122,659 units in the same month last year and up 13.87 percent from 131,228 units in November.

In December, BYD sold a record 36,095 NEVs in overseas markets, up 218.86 percent from 11,320 in the same month last year and up 17.85 percent from 30,629 in November.

The company first announced its overseas sales figures for NEVs in July 2022.

In addition to being China's largest NEV company, BYD is also China's second-largest power battery maker.

BYD's installed capacity of power and energy storage batteries amounted to about 17.746 GWh in December, up 59.13 percent from 11.152 GWh in the same month last year and up 4.73 percent from 16.945 GWh in November.

Fourth-quarter performance

In the fourth quarter, BYD sold 944,779 NEVs, an increase of 38.24 percent year-on-year and up 14.66 percent from the third quarter.

BYD's passenger NEVs sold 942,651 units in the fourth quarter, up 38.21 percent year-on-year and up 14.66 percent from the third quarter.

The company sold 2,128 commercial NEVs in the fourth quarter, up 53.98 percent year-on-year and up 11.59 percent from the third quarter.

BYD's passenger BEVs sold 526,409 in the fourth quarter, up 60 percent year-on-year and up 21.97 percent from the third quarter.

Its passenger PHEVs sold 416,242 units in the fourth quarter, up 17.9 percent year-on-year and up 6.59 percent from the third quarter.

BYD sold 97,245 NEVs overseas in the fourth quarter, up 193.2 percent year-on-year and up 36.52 percent from the third quarter.

BYD's installed base of power and energy storage batteries amounted to about 49.977 GWh in the fourth quarter, an increase of 54.52 percent year-on-year and 22.85 percent from the third quarter.

Full-year 2023 performance

For the full year of 2023, BYD sold 3,024,417 NEVs, reaching its target of 3 million units, an increase of 62.3 percent year-on-year.

BYD aims to sell at least 3 million vehicles in 2023 and aims to reach 3.6 million, the company's chairman and president Wang Chuanfu said in late March.

BYD's sales of passenger NEVs in 2023 amounted to 3,012,906 units, up 62.21 percent year-on-year.

Its commercial NEVs sales in 2023 were 11,511 units, up 88.24 percent year-on-year.

BYD's sales of passenger BEVs in 2023 were 1,574,822 units, up 72.84 percent year-on-year.

It sold 1,438,084 passenger PHEVs in 2023, up 51.98 percent year-on-year.

BYD's overseas NEV sales in 2023 were 242,765 units, up 493.51 percent year-on-year.

BYD's installed capacity of power and energy storage batteries was about 150.909 GWh in 2023, representing a year-on-year increase of 67.98 percent.

BYD catches up with Tesla in global BEV market share in Q3

Become A CnEVPost Member

Become a member of CnEVPost for an ad-free reading experience and support us in producing more quality content.

Become A Member