BYD’s August Vehicle Sales Up 155% Annually

Shenzhen-based automotive firm BYD, which has recently faced reports of Warren Buffett’s share reduction, released its latest sales data on September 2. In August, BYD’s total sales reached a new high, with a monthly sales volume of 175,000 units, up 155% year-on-year.

The sales volume of BYD’s new energy passenger cars was 174,000 units, up 157% year-on-year. From January to August, the total sales volume of BYD’s new energy passenger cars was 979,000 units, up 267% year-on-year.

On the whole, hybrid vehicles are growing more rapidly. In August, the sales volume of hybrid powertrain passenger cars was 91,000 units, up 203% year-on-year, while the sales volume of pure electric passenger cars was 83,000 units, up 172% year-on-year.

Wang Chuanfu, the chairman of BYD, revealed on a conference call that the EV maker currently has more than 700,000 orders in hand, and that the delivery cycle of new car orders is four to five months. According to Wang’s prediction, BYD’s monthly delivery volume will reach about 280,000 vehicles by the end of 2022. In 2023, the total sales volume of China’s new energy vehicle market will reach an estimated 9-10 million units, while the total sales volume of BYD’s new cars will exceed 4 million units.

With over 27 years of battery R&D experience, BYD has made breakthroughs in DM-i super hybrid technology, ferrous lithium phosphate blade batteries, e-platform 3.0 and others.

However, at this stage, due to repeated pandemic outbreaks and power supply issues, the delivery of new cars such as BYD’s Seal model is under great pressure. Data show that in August, among BYD’s Dynasty series, the sales volume of Han, Tang, Song, Qin and Yuan model was 26,000, 11,000, 43,000, 39,000 and 18,000 units respectively. In the Ocean series, the sales volume of the Destroyer 05 was 8,725 units, an increase of 16% from the previous month, and the sales volume of the Dolphin model was 23,000 units, an increase of only 12% from the previous month.

As for the D9 model owned by Denza, a high-end brand under BYD, Zhao Changjiang, the general manager of Denza’s sales division, said on social media on September 2 that he was worried about a “black swan” supply chain problem would happen again if he disclose the reason for late deliveries. Actual reasons, claimed by Zhao, were European supply chain issues and the extended Shanghai lockdown.

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Zhao pointed out that D9 cars are being shipped to various cities in the near future and will all arrive around September 10. Centralized test drives in some cities will be started in mid-September, and store test drives will be started at the end of the month. The estimated delivery volume in the following months is over 3,000 units in October, 5,000-7,000 units in November, 10,000 units in December and 10,000 units in January respectively.