A Record-Breaking August Below makes for a remarkable achievement, further solidifying its dominance in the EV space, as BYD again broke its sales record from month to month. Being one of the largest electric vehicle manufacturers in the world, BYD again managed to pip its previous sales records with much fanfare. In August 2024, BYD had reportedly sold 373,083 new energy vehicles, the highest on record, after its previous record of 342,383 units in July 2024. That’s quite a high feat considering how the competition has been increasing in the market and how global sales of electric vehicles have been slowing down.

Impressive Growth across Segments of Vehicles

PHEV Sales Touch New Records

One of the high points of BYD’s recent performance has to do with sustained demand for plug-in hybrid electric vehicles. August 2024 marked the sixth record high for PHEV sales since March of the same year. All in all, the company recorded sales of its NEV passenger vehicles at 370,854 units, up 35.3 percent year-on-year. Meanwhile, PHEVs alone saw a strong uptick: 222,384 units sold, up an impressive 73 percent versus the prior year. This growth trajectory is a clear indication that increasingly, PHEVs are liked by consumers as alternatives since they marry the best of electric and traditional combustion engines.

Battery-Electric Vehicle Sales Growth

BEVs, however, contributed to BYD’s record month, even if their sales increase was more modest compared to the PHEVs. BEV sales grew 12 percent to 148,470 units. Smaller in percentage, the number is quite considerable and underlines the strong demand for the fully electric models.

Best-Selling Models

Talk of the models and for the month of August, BYD took a lead by the Dinasty and Ocean series, totally selling 355,679 units. The Denza series sold 9,989 units while 310 and 4,876 units were contributed by the Yangwang and Fang Cheng Bao series, respectively. These figures indeed demonstrate that BYD doesn’t lag behind in putting up numerous models to satisfy the diverse tastes of its consumers.

Record Increase in Sales of Commercial Vehicles

Commercial Vehicle Market Expansion

Besides the success it has achieved in the passenger vehicle segment, BYD has also been able to keep up the pace in the commercial vehicle sector. In August 2024, the sales of BYD’s commercial vehicles surged to 2,289 units-a giant leap from the previous year’s number of 300 units in the same period. That shows the fact that with each passing month, BYD has been gaining ground in the commercial vehicle market and is leveraging its NEV technology expertise in various applications.

Cumulative Sales and Production

Looking from the larger perspective, between January and the end of August 2024, BYD’s performance has equally been impressive. The company recorded a cumulative of 2.33 million NEV sales, a 9.3 percent increase in comparison to the same period last year. The total production of the vehicle also increased to 366,973 units. All these figures will confirm how well BYD is positioned in the market and to what extent the company would have the potential to satisfy the increasing demand in the global new energy vehicle market.