BYD exports hit the ceiling with impressive 267% growth

BYD, an emerging power in the electric and plug-in hybrid vehicle industry has seen steady momentum in the global automotive market. The company reported a remarkable 38.13% increase in monthly sales for May 2024, with 331,817 units sold compared to 240,220 in the same month last year. This surge underscores BYD’s robust growth trajectory.

Sales from April to May rose by 5.93%, highlighting the consistency of BYD’s strong performance. Year-to-date, the company achieved a significant 26.8% growth over 2023, totaling 1,271,325 electric and plug-in hybrid vehicles sold.

Passenger vehicles led the sales, with BYD shipping 330,488 units in May, marking a 38.23% increase year-on-year. The demand for pure electric cars was also robust, with sales growing 22.4% to 146,395 units. Plug-in hybrids (PHEVs) experienced an even more dramatic rise of 54.07%, totaling 184,093 units sold.

BYD’s passenger vehicle exports saw impressive growth, with 37,499 units sold abroad in May, representing a staggering 267.5% increase compared to the previous year.

In the commercial vehicles (CVs) segment, BYD reported an overall growth of 17.82% in May compared to 2023, with 1,329 units sold. However, bus sales declined by 56.47%, with only 239 units sold. Conversely, sales of other commercial vehicles soared by 88.26%, reaching 1,090 units in May 2024.

Strong Performance Across All BYD Brands

BYD’s Dynasty and Ocean series combined recorded sales of 315,227 vehicles in May, reflecting a 38.2% year-on-year increase. The DENZA brand also performed well, with sales rising 11.1% to 12,223 units. The YangWang and FangChengBao brands ended the month with 608 and 2,430 vehicles sold, respectively.

BYD’s skyrocketing position in the global market for plug-in electrified cars, driven by strong growth in both sales and exports, is not entirely new. In Brazil, for instance, the company aims to sell more than 100,000 electric and plug-in hybrid vehicles in 2024, paving the way for local production to commence by the end of the year.

Source: INSIDEERVS

The original text is available for reading at the following link: https://insideevs.uol.com.br/news/721918/byd-vendas-globais-maio-2024/

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