BYD has achieved a significant milestone by selling over 500,000 units of cars in a single month for the first time. In October, BYD sold 552,600 electric passenger vehicles, marking a 66% increase compared to the same period last year.
In October of the previous year, BYD sold 301,095 vehicles. This month’s sales also represent a 20% increase from September, when BYD sold 417,603 vehicles.
From January to October this year, BYD has sold 3,236,927 electric cars, which is a 36% increase compared to the same period last year.
BYD had set a target of selling 3.6 million vehicles throughout 2024, and this target is expected to be naturally achieved. There are reports that BYD has internally increased this target to 4 million, although the company has not publicly confirmed this new goal.
The sales data released includes figures for new energy vehicles (NEVs), which consist of battery electric and plug-in hybrid vehicles. While fuel cell electric vehicles (i.e., hybrid vehicles) are also considered NEVs, BYD does not produce these, so they are not included in the data.
BYD stopped the production of internal combustion engine (ICE) vehicles as of April 2022.
Additionally, BYD has recently reported its third-quarter earnings, surpassing the revenue of Tesla for the first time. As of September 30, BYD reported a revenue of 201.12 billion yuan (approximately $28.24 billion), which is a 24% increase from the previous year.
In this context, a recent report by Reuters stated that BYD’s Executive Vice President, He Zhiqi, indicated that production has been increasing at a rate of approximately 200,000 units from August to October, with about 200,000 employees being hired.
Tesla, on the other hand, reported a revenue of $25.18 billion during the same period. However, Tesla remains ahead in total revenue.
BYD and Tesla continue to compete as leading companies in the global market.
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