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BYD sets new sales record for plug-in EVs in June

The second quarter of 2024 was a record-breaking period for BYD.

BYD, the Chinese electric vehicle manufacturer, set a new monthly sales record in June, surpassing its previous highest result from December 2023. The company sold 340,211 passenger plug-in cars last month, including over 15,000 EVs from its sub-brands, marking a 35% increase from a year ago when it sold 340,178 units.

In June, BYD sold 145,179 all-electric cars, slightly fewer than in May, with a 13% year-over-year growth. The company’s main growth area was plug-in hybrids, selling 195,032 PHEVs, representing a 58% increase from a year ago. This marks the fourth consecutive record for plug-in hybrid sales, highlighting the current market trend.

Overall, BYD sold 341,658 plug-in vehicles in June, including 1,447 commercial electric vehicles. The company also saw significant growth in its international market, with overseas sales reaching 26,995 plug-ins, up 156% year-over-year, accounting for almost 8% of the total volume.

Quarterly and Year-to-Date Performance

The second quarter of 2024 was a record-breaking period for BYD, with 982,747 passenger plug-in electric cars sold, a 40% increase from the previous year. This makes BYD the largest seller of rechargeable vehicles globally. However, it remains uncertain if BYD will surpass Tesla in all-electric car sales, with Tesla’s numbers expected to be released on July 2, 2024.

For the first half of 2024, BYD sold over 1.6 million passenger plug-in electric cars, a 29% increase from last year. This includes 726,153 BEVs (up 18%) and 880,992 PHEVs (up 40%).

In 2023, BYD sold over 3.0 million passenger plug-in electric cars, a 62% increase from 2022, making it the largest Chinese carmaker and car brand. For 2024, BYD aims to achieve an average growth rate of over 20%, expecting higher results than in 2023.

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