- BYD‘s NEV sales in June reached a new high for the year, despite the month-on-month growth rate falling below 1 percent for the third consecutive month.
- BYD sold 90,049 vehicles overseas in June, marking the seventh consecutive month of new highs.
BYD (HKG: 1211, OTCMKTS: BYDDY) saw further growth in its vehicle sales last month following price cuts on multiple models at the end of May.
The company sold 382,585 new energy vehicles (NEVs) in June, the highest figure so far this year, according to data released today.
This represents a year-on-year increase of 11.98 percent, but only a 0.03 percent increase from May, marking the third consecutive month of sequential growth below 1 percent, according to data compiled by CnEVPost.
BYD ceased production and sales of vehicles powered solely by internal combustion engines in June 2022, shifting its focus to producing plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs).
BYD’s NEVs include both passenger vehicles and commercial vehicles. Passenger NEVs accounted for 377,628 units sold in June, representing an 11.00 percent year-on-year increase and a 0.19 percent increase from May.
BYD’s commercial NEVs sold 4,957 units in June, up 242.57 percent year-on-year but down 10.62 percent from May.
Among passenger NEVs in June, BEV sales totaled 206,884 units, marking the second consecutive month exceeding 200,000 units. This represents a year-on-year increase of 42.50 percent and a month-on-month increase of 1.23 percent.
BYD’s sales of passenger PHEVs in June came in at 170,744 units, down 12.45 percent year-on-year and down 1.05 percent month-on-month.
On May 23, the company announced that customers purchasing BYD-branded models before June 30 would be eligible for discounts ranging from about 10 percent to 30 percent, prompting several domestic competitors to follow suit.
BYD sold 90,049 vehicles overseas in June, marking the seventh consecutive month of new highs. This represents a year-on-year increase of 233.58 percent and a month-on-month increase of 1.13 percent.
In addition to being China’s largest NEV maker, BYD is also China’s second-largest power battery manufacturer.
BYD’s power battery and energy storage battery installations in June totaled about 27.019 GWh, a year-on-year increase of 67.81 percent but a decrease of 5.12 percent compared to May.
In the second quarter, BYD’s NEV sales totaled 1,145,150 units, marking a year-on-year increase of 16.06 percent and a quarter-on-quarter increase of 14.42 percent.
Its passenger NEVs sold 1,127,173 units in the second quarter, up 14.70 percent year-on-year and up 14.31 percent quarter-on-quarter.
Commercial NEVs sold 17,977 units in the second quarter, up 352.48 percent year-on-year and up 22.24 percent quarter-on-quarter.
BYD’s passenger BEV sales in the second quarter reached 606,993 units, up 42.47 percent year-on-year and up 45.78 percent quarter-on-quarter.
Passenger PHEV sales in the second quarter totaled 520,180 units, down 6.56 percent year-on-year and down 8.69 percent quarter-on-quarter.
BYD’s NEV sales overseas in the second quarter reached 258,182 units, up 144.71 percent year-on-year and up 25.28 percent quarter-on-quarter.
BYD’s power battery and energy storage battery installations in the second quarter totaled about 81.973 GWh, up 91.44 percent year-on-year and up 55.98 percent quarter-on-quarter.
In the first half of the year, BYD sold 2,145,954 NEVs, up 33.04 percent year-on-year.
Passenger NEVs sold 2,113,271 units in the first half of the year, up 31.49 percent year-on-year.
Commercial NEVs totaled 32,683 units, up 459.83 percent year-on-year.
Passenger BEVs totaled 1,023,381 units, up 40.93 percent year-on-year.
Passenger PHEVs came in at 1,089,890 units, up 23.71 percent year-on-year.
BYD sold 464,266 units overseas in the first half of the year, up 128.25 percent year-on-year.
Its power battery and energy storage battery installations for the first half of the year totaled about 134.526 GWh, up 85.41 percent year-on-year.
