BYD is increasing its global plug-in electric car sales, setting record after record. November was not an exception.<\/p>\n
According to the company’s report, last month,\u00a0BYD passenger plug-in car sales amounted to 301,378 (including 11,843 Denza, 626 Fang Cheng Bao, and 408 Yangwang), which is 31% more than a year ago, and the best result ever.<\/p>\n
Compared to October, the increase in sales was pretty small\u2014just 283 units\u2014but it’s the seventh consecutive record and the second time when the volume exceeded 300,000 units in a single month.<\/p>\n
The overwhelming majority of BYD sales are in China, while exports account for about 10 percent of the total result.<\/em><\/p>\n As we noted previously, the rate of year-over-year growth is consistently decreasing and currently is at the lowest level since mid-2020 (lockdowns), indicating that after becoming the largest automotive player in China, BYD must find other engines of growth.<\/p>\n November shows us that BYD is gradually moving from plug-in hybrids to all-electric cars, as BEVs represent the majority of the volume and are also growing much faster than PHEVs.<\/p>\n Last month, all-electric car sales reached a new record of 170,150 units, while plug-in hybrids were not able to beat its record from September, only slightly increasing year-over-year to 131,228.<\/p>\n BYD Group passenger plug-in car sales last month (YOY change):<\/p>\n BYD also sold 525 commercial electric vehicles for a total of 301,903 plug-in vehicles last month. Out of the total number, some 30,629 BYD plug-ins were exported (another monthly record).<\/p>\n\n