
BYD set a brand new gross sales document final month with over 342,000 new vitality autos (NEVs) bought. Though BYD’s EV gross sales fell barely in July, PHEVs continued constructing momentum after setting a brand new document for the fifth straight month.
BYD breaks NEV gross sales document in July as EV gross sales slip
China’s main EV maker continued its dominant run final month. BYD bought 342,383 NEVs in July, up 30% yr over yr and beating the earlier document set in June (341,658).
Though EV gross sales fell 10% from June (145,179), BYD nonetheless bought 130,000 totally electrical autos final month.
BYD’s plug-in hybrids led the expansion, setting a brand new document with 210,799 bought in July, up 67% yr over yr and eight% from June. That is BYD’s fifth straight month of PHEV gross sales progress.
Via the primary seven months of 2024, BYD has bought 1,955,366 NEVs, up 29% in comparison with final yr (1,517,798).
Though BYD’s EV gross sales slipped in July, they’re nonetheless up 14% by means of the primary seven months of the yr. BYD has bought 856,153 totally electrical autos by means of July. That’s up from the 751,593 bought right now final yr.

In the meantime, PHEV gross sales topped 1 million (1,091,791) through July, up 44% from the 757,673 bought right now final yr.
BYD additionally revealed that 30,014 autos had been bought abroad, representing 11% progress from June.

Electrek’s Take
After overtaking VW to turn into China’s top-selling automobile model final yr, BYD is rapidly increasing in key abroad markets like Southeast Asia, Europe, and the Americas.
BYD is reportedly planning to enter Canada after assembly with sellers, a transfer that would drastically shake up the North American EV market.
Though BYD is finest identified for its low-cost fashions just like the Dolphin, Atto 3, and Seagull, it’s increasing into new segments, together with pickup vans, luxurious, and mid-size SUVs.
After briefly topping Tesla to turn into the top-selling world EV final yr, Tesla took it again in Q1 and has held onto it by means of the primary half of 2024. Nevertheless, current analysis from Bloomberg Intelligence suggests BYD will take again the crown and maintain it by means of 2027. In 2028, Tesla is projected to make a comeback, with Volkswagen pulling it collectively for third.
With a slate of fashions rolling out, together with its first pickup, a brand new Mannequin Y-rivalling electrical SUV, and some luxurious vehicles, BYD’s EV gross sales will probably decide again up within the second half of 2024 into 2025.
In the meantime, after signing a landmark deal to place 100,000 EVs on the street and deploy autonomous tech by means of a brand new partnership with Uber, Tesla’s Elon Musk commented on X, saying, “BYD wants to alter course quick or they’re in bother.”
What do you suppose? Is BYD in bother? Or will China’s largest EV maker overtake Tesla once more, as projected? Tell us your ideas within the feedback.
FTC: We use revenue incomes auto affiliate hyperlinks. More.
Source link