BYD has released its report on the sales data for the Shenzhen Stock Exchange, summarizing the total number of car sales throughout the year 2023 at 3,012,906 units. These sales can be further divided into two categories: battery electric vehicles (BEV) at 1,574,822 units, and plug-in hybrid electric vehicles (PHEV) at 1,438,084 units. Overall, this represents a significant growth of 62.3% compared to the previous year in 2022, successfully achieving the set target of 3 million units.
When it comes to global car sales, BYD has managed to surpass Tesla since mid-2022. However, if we solely consider BEV sales, Tesla still maintains the lead. But as of the third quarter of 2023, BYD’s BEV sales are closely catching up to Tesla’s numbers. It will be interesting to see the sales figures for the fourth quarter of 2023 from Tesla to determine the extent of their lead.
Although BYD enjoys highly impressive overall sales figures (such as 341,043 units worldwide in December alone), the majority of these sales still originate from within China. Sales outside of China only accounted for 36,095 units, which is a growth of 218% compared to December 2022. However, this still represents a relatively small proportion when compared to domestic sales in China.
In conclusion, BYD’s sales performance in the global market is commendable. With significant growth in both domestic and international sales, especially in the BEV segment, BYD continues to solidify its position as a major player in the electric vehicle industry.
TL;DR: BYD has reported impressive car sales in 2023, with a total of 3,012,906 units. Their BEV and PHEV models contributed to this success, achieving a growth rate of 62.3% compared to the previous year. While BYD has managed to outperform Tesla in overall car sales, Tesla maintains its lead in terms of BEV sales. However, BYD’s BEV sales are rapidly catching up. The majority of BYD’s sales still come from China, with international sales showing promising growth. BYD’s performance solidifies its position as a key player in the electric vehicle market.
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