Electric Vehicle | BYD Monthly NEV Sales Exceed 500,000 Units for the First Time

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Electric Vehicle | BYD Monthly NEV Sales Exceed 500,000 Units for the First Time

Date：2024-11-02

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Keyword tags： Electric Vehicle APAC BYD

According to the latest sales data released by BYD (002594.HK), in October, BYD's new energy vehicle (NEV) sales reached 502,657 units, a year-on-year increase of 66.5%, marking the first time that monthly sales have exceeded 500,000 units and setting a record for monthly sales of Chinese automotive companies and a global record for new energy vehicle monthly sales.

Among these, pure electric vehicles (BEV) accounted for 189,614 units, and plug-in hybrid vehicles (PHEV) accounted for 310,912 units. From January to October of this year, BYD's passenger car sales reached 3.237 million units, a year-on-year increase of 36.5%.

In terms of brand, in October, BYD's Dynasty and Ocean series sold 483,437 units, a year-on-year increase of 66.9%; Fangchengbao (Formula Leopard) brand sold 6,026 units; Denza sold 10,781 units; and Yangwang series sold 282 units.

Additionally, in October, BYD's overseas sales of new energy passenger cars totaled 31,192 units, of which 28,012 units were exported.

In terms of batteries, in October, the total installation of electric vehicle batteries and energy storage batteries for BYD was approximately 21.018 GWh, with a cumulative total of approximately 148.738 GWh from January to October.

According to BYD's third-quarter report, the company's revenue for the first three quarters of 2024 was 502.251 billion yuan, a year-on-year increase of 18.94%; the net profit attributable to the parent company was 25.238 billion yuan, a year-on-year increase of 18.12%; and the basic earnings per share were 8.68 yuan.

In the third quarter, BYD's revenue was 201.125 billion yuan, a year-on-year increase of 24.04%; the net profit attributable to the parent company was 11.607 billion yuan, a year-on-year increase of 11.47%. Meanwhile, Tesla achieved revenue of $25.182 billion (approximately 180 billion yuan) in the third quarter, marking the first time BYD has surpassed Tesla in quarterly revenue scale.

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