BYD sold 139,902 passenger BEVs and 161,729 PHEVs in March.
BYD (HKG: 1211, OTCMKTS: BYDDY) saw a strong rebound in new energy vehicle (NEV) sales last month, as the effects of the Chinese New Year holiday subsided.
The company sold 302,459 NEVs in March, the second highest on record behind last December's 341,043 units, according to figures it released today.
That was a 147.29 percent increase from 122,311 in February and a 46.06 percent increase from 207,080 in the same month last year.
BYD ceased production and sales of vehicles powered entirely by internal combustion engines in March 2022, switching to a focus on the production of plug-in hybrid vehicles (PHEVs) and battery electric vehicles (BEVs).
BYD's NEVs include passenger cars as well as commercial vehicles, with sales of passenger NEVs up 46.36 percent year-on-year to 301,631 units in March and up 147.75 percent from February.
BYD's commercial NEVs sold 828 units in March, down 16.45 percent year-on-year while up 47.07 percent from February.
Among passenger NEVs, BEVs sold 139,902 units in March, up 36.26 percent year-on-year and up 154.79 percent from February.
BYD sold 161,729 units of passenger PHEVs in March, up 56.38 percent year-on-year and up 141.96 percent from February.
In March, BYD sold a record 38,434 vehicles in overseas markets, surpassing the previous record of 36,174 in January. This represents a year-on-year increase of 188.72 percent and a 65.02 percent increase from February.
BYD announced its first overseas sales figures for NEVs in 2022 July.
In addition to being China's largest NEV company, BYD is also China's second-largest power battery maker.
BYD's installed base of power and energy storage batteries amounted to about 11.762 GWh in March, up 18.92 percent year-on-year and up 76.47 percent from February.
Q1 performance
In the first quarter, BYD sold 626,263 NEVs, up 13.44 percent year-on-year but down 33.71 percent from the fourth quarter of 2023.
Its passenger NEVs sold 624,398 units in the first quarter, up 13.96 percent year-on-year while down 33.76 percent from the fourth quarter of last year.
Commercial NEVs sold 1,865 units in the first quarter, down 55.16 percent year-on-year and down 12.36 percent from the fourth quarter last year.
BYD sold 300,114 passenger BEVs in the first quarter, up 13.4 percent year-on-year but down 42.99 percent from the fourth quarter last year.
Sales of passenger PHEVs were 324,284 units, up 14.48 percent year-on-year but down 22.09 percent from the fourth quarter of last year.
BYD's overseas sales of NEVs in the first quarter were 97,899 units, up 152.82 percent year-on-year and essentially unchanged from 97,245 in the fourth quarter of last year.
BYD's installed capacity of power and energy storage batteries in the first quarter was about 29.736 GWh, an increase of 10.17 percent year-on-year and a decrease of 40.50 percent from the fourth quarter of last year.
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