BYD is a name you’re going to be hearing more and more as time goes on. The Chinese automotive powerhouse continues to gain momentum in Q4, recording record high EV sales for a sixth consecutive month. To ensure its sales stay hot, BYD is offering limited time discounts on a slew of vehicles to finish the year as one of the world leaders in EVs. See the latest tallies below.
You may have noticed significantly more coverage of Build Your Dreams (BYD) on Electrek the last year or so. That’s no accident. Despite not selling its passenger EVs in the US (yet), BYD’s growing presence in the global automotive space cannot be denied.
In addition to introducing newer, more affordable models in its native China, BYD has quickly been expanding to new markets in Japan, Europe, and most recently Mexico, only contributing to its growing order book. The narrative for most of the year has been record EV sales (who saw that coming?!?), setting the stage for a price war in China.
Any competitor of BYD is surely paying attention, because it may struggle going toe-to-toe with the vehicle and battery conglomerate based on its EV sales this year alone. By the end of Q2, BYD was the world’s second largest automaker behind Tesla, but according to last week’s Q3 2023 report, BYD is closing in on the American automaker, touting $1.42 billion in profits.
Today, BYD shared EV sales details for the first third of Q4 and it’s another record. Furthermore, the graph BYD shared showcasing its 2023 growth is staggering. See below.
BYD’s EV sales surpassed 300k units in October
According to a recent post on its Weibo page, BYD’s sales were 301,833 in October alone, including EVs and PHEVs. Of that number, 165,505 were true BEVs, 135,590 PHEV, and 738 were commercial NEVs. October is the first time to date that BYD has surpassed 300k in EV sales, achieving a 38.57% increase year-over-year, up 5% since September 2023.
Aside from a couple dips this past summer, BYD’s sales overseas have also seen steady growth, reaching 30,521 last month – up over 220% compared to October 2022 and nearly 9% compared to September 2023.
BYD’s October success also represents nine consecutive months of growth and six consecutive months of record EV sales, setting the stage for a strong finish to 2023 in which the automaker aims to sell between 3 and 3.6 million vehicles and perhaps catch up with Tesla. We’ll see.
To help bolster its already strong sales numbers, BYD introduced a limited-run of discounts on several of its models through November, including its Dolphin and Seal EVs – which are now RMB 7,000 ($955) off.
All eyes will be on BYD’s November and December sales numbers before we get the final tally in its Q4 2023 report early next year. Stay tuned to Electrek for the latest.
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