Summary
- BYD surpassed 1 million EV sales in 2024 after a record-breaking August
- They sold a total of 373,082 new energy vehicles in August, including plug-in hybrids and all-electric cars
- Plug-in hybrids made up the majority of the growth, with 222,384 units sold
- BYD’s overseas sales also saw a growth of 26% year over year, reaching 31,451 vehicles
- The company is expanding into new markets and introducing new technology to drive sales and meet demandtotalCount: 5
Article
BYD, China’s leading EV maker, has surpassed the milestone of selling over 1 million electric vehicles in 2024, with a record-breaking August contributing to this achievement. The company reported sales of 373,082 new energy vehicles (NEVs) last month, including plug-in hybrids (PHEVs) and all-electric cars. This figure marks a significant increase from the previous month and sets a new sales record for BYD for the third consecutive month.
The surge in sales can be attributed to the popularity of BYD’s plug-in hybrids, which accounted for a majority of the growth in August. With 222,384 PHEVs sold, up by 73% compared to the same period last year, BYD has now sold over 1.3 million PHEVs through August 2024. Additionally, the company recorded the sale of 148,470 EVs last month, marking a 2% increase year-over-year and a 15% increase from July. These numbers pushed BYD over the 1 million EV sales mark for 2024.
BYD’s expansion into overseas markets has also been successful, with sales reaching 31,451 units, up 26% year-over-year. The company has sold nearly 265,000 vehicles internationally through August as it continues to enter new markets. The introduction of new technologies, such as the DM 5.0 hybrid system and the e-Platform 3.0 for EVs, has enabled BYD to offer lower-priced, more efficient models to meet growing demand.
With the introduction of new models and technologies, BYD is positioning itself as a strong competitor in the electric vehicle market. The company’s growth has allowed it to surpass Honda and Nissan to become the seventh-largest automaker in the second quarter. As it plans to establish overseas plants in various countries, including Pakistan, Turkey, Mexico, Brazil, and Turkey, BYD aims to continue meeting the demand for affordable EV solutions in key international markets.
BYD’s success in reaching the milestone of 1 million EV sales for 2024 highlights the company’s commitment to innovation and expansion in the electric vehicle industry. The introduction of new technologies and the focus on offering lower-priced, more efficient models have contributed to BYD’s growth and success in the market. With its continued push into overseas markets and the development of new products, BYD is poised to solidify its position as a key player in the global electric vehicle market.
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