- BYD's April NEV sales reached 321,123 units, up 6.96% from March, though continuing a year-on-year decline.
- Overseas shipments topped 134,000 units to hit a record high, surging 70.9% year-on-year.
BYD's sales rebounded month-on-month in April as the company increasingly relies on robust growth in overseas markets amid sluggish domestic demand.
The automaker's new energy vehicle (NEV) sales stood at 321,123 units in April, representing a 6.96% increase from March, according to data released on Friday.
However, this marks the company's eighth consecutive month of year-on-year sales decline, dropping 15.51%.
For the first four months of the year, BYD's cumulative NEV sales totaled 1,021,586 units, down 26.02% year-on-year. This reflects the broader pressure brought by the Chinese auto market entering its traditional slow season at the beginning of the year.
Despite the pressure on domestic sales, BYD's overseas business hit a record high. The company's overseas sales of passenger vehicles and pickup trucks reached 134,542 units in April, surging 70.9% year-on-year.
Breaking down by brand, the main BYD brand, which includes the Dynasty and Ocean lineup, contributed 273,448 units to the April sales.
The sub-brand Fang Cheng Bao delivered a stellar performance, with monthly sales reaching 29,138 units, up 190.25% year-on-year and 12.39% from March.
Denza sold 11,250 vehicles in April, jumping 57.72% month-on-month. However, the figure fell 26.89% year-on-year, marking its fourth consecutive month of year-on-year decline.
The ultra-luxury brand Yangwang sold 264 vehicles, up 95.56% year-on-year but down 14.01% from March.
The release of the sales data follows a sharp contraction in the company's first-quarter profit. BYD's net profit for the first quarter dropped 55.38% to 4.09 billion yuan ($599 million).
The steep drop in profit is primarily attributed to the fierce price war in the Chinese market and the phasing out of NEV support policies. Additionally, soaring supply chain hardware costs have posed financial challenges.
To cope with rising costs, BYD recently raised the optional upgrade price for its advanced smart driving system by more than 20%.
Meanwhile, BYD is actively rolling out new models equipped with ultra-fast charging technology to defend its market share, having launched over 10 models featuring this technology and the second-generation Blade Battery so far.
Notably, BYD has made a breakthrough in the high-end market. At the Beijing Auto Show, its Yangwang U9 Xtreme supercar was sold for over 20 million yuan.
($1 = 6.8282 yuan)
