BYD Plug-In Car Sales Reached Another Record In August 2023

August brought another plug-in electric car sales record for BYD – the fourth consecutive one, but the growth is no longer as high as in 2021 and 2022.

According to the company’s report, in August, BYD passenger plug-in car sales amounted to 274,086 (including 11,515 Denza premium EVs), which is 57.5 percent more than a year ago (the lowest growth rate since late 2020).

There is no doubt that BYD will continue to grow in 2023, but the scale is already so high that there is not much potential for doubling or tripling sales, like the company had done so in the past.

The overwhelming majority of BYD sales are in China, while exports stand for several percent of the total result.

In recent months, battery electric car (BEV) sales are outpacing plug-in hybrid car (PHEV) sales. In the case of BEVs, 145,627 units were sold last month, while PHEVs noted 128,459 units. Both numbers are new records.

BYD plug-in car sales results:

• BEVs: 145,627 (up 76% year-over-year)
• PHEVs: 128,459 (up 41% year-over-year)
• Total: 274,086 (up 57.5% year-over-year)

BYD also sold 300 commercial electric vehicles for a total of 274,386 plug-in vehicles last month. Out of the total number, some 25,023 BYD plug-ins were exported (a new monthly record).

So far this year, BYD sold over 1.78 million passenger plug-in electric cars, which is 83 percent more than a year ago.

BYD plug-in sales year-to-date:

• BEVs: 897,220 (up 84% year-over-year)
• PHEVs: 886,132 (up 82% year-over-year)
• Total: 1,783,352 (up 83% year-over-year)
  

For reference, in 2022, BYD sold more than 1.85 million plug-in electric cars. The cumulative number of BYD plug-in electric cars is now more than 5.1 million units.

BYD’s 12-month sales already exceeded 2.66 million units. The company is now expected to gradually move towards 300,000 units a month. Sales in 2023 potentially will exceed 3 million.

The top two model families in BYD’s lineup were, once again, the Song family with 57,940 units (BEV + PHEV) and the Qin family with 45,004 (BEV + PHEV).

Last month, the next two most popular nameplates were the stand-alone, all-electric BYD Seagull (34,841) and BYD Dolphin (32,745). Next was the BYD Yuan all-electric family (32,662).