BYD’s October NEV Sales Triple Those of Tesla China
On November 3, BYD announced that it had achieved a sales volume in October of 217,800 new energy vehicles, a record high and the second consecutive month that the figure surpassed 200,000 units.
The China Passenger Car Association (CPCA) estimated on the same day that the wholesale volume of NEV manufacturers in China reached 680,000 vehicles in October. Based on this calculation, BYD’s market share in China has reached 32.03%. According to the CPCA, Tesla China’s wholesale sales in October were 71,704 units, which increased by 31.83% year-on-year, but decreased by 13.75% quarter-on-quarter. Based on this calculation, BYD’s sales volume in October was three times that of Tesla China.
BYD sold 201,300 NEVs in September, breaking the 200,000 units landmark for the first time. In October, the sales volume increased by 8.2% from the previous month.
Within BYD’s Dynasty Series, the Song model is still the best-seller, with 56,843 cars sold in October. In addition, BYD’s Han, Tang, Qin, and Yuan sold 31,614 units, 17,161 units, 34,670 units and 27,548 units respectively. Within the Ocean Series, 11,267 units of the Seal, 911 units of the Destroyer 05, and 25,336 units of the Dolphin were sold.
Previously, industry experts predicted that BYD’s sales volume might reach more than 1.9 million vehicles this year. In a past investors meeting, BYD estimated that the total sales volume would reach 1.5 million units in 2022, and it is even expected to hit 2 million vehicles with a solid supply chain. Soochow Securities predicts that the sales volume of BYD NEVs will exceed 3 million units by 2023, an increase of nearly 60% compared with 2022.
In addition, BYD announced details on its overseas sales performance. In October, 9,529 NEVs were sold to global consumers, an increase of 23.18% compared with 7,736 units last month. In fact, BYD has already exported 17,000 NEVs in the third quarter of this year.
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BYD mainly focused on the European and Southeast Asian markets. In July this year, the company announced its entry into Japan, with the Yuan Plus, Dolphin and Seal to begin sales in the country in January of next year. The Thai market became BYD’s new target in August.
In October, BYD’s Tang, Han and Yuan Plus models appeared at the Paris Motor Show and will be delivered from Q4. Before the end of this year, BYD will further explore the French and British markets.
In terms of batteries, in October, BYD’s total installed capacity of power batteries and energy storage batteries was about 10.188 GWh, driving the total number in 2022 to about 67.681 GWh.