BYD is making strides toward becoming the global leader in new energy vehicle sales as it posted notable numbers that take aim at Tesla. Previously, we reported that the Chinese automaker is closing in on Tesla as it sold 431,603 vehicles in the third quarter of 2023. The said figure is relatively close to Tesla’s 435,059 units sold during the same period.
As 2023 ends, BYD reported that it has sold 3,024,417 million new energy vehicles with about 1.6 million full electric vehicles (EV) and around 1.4 million plug-in hybrid EVs (PHEV). This gives Chinese automaker BYD a strong chance to overtake Tesla as the global leader in EV sales.
BYD’s three million vehicle sales in 2023 translate to a 62.3 percent year-on-year growth as compared to its 2022 sales performance with 1,863,494 vehicles sold. This sales growth shows that BYD has expanded its market significantly and that the demand for EVs or new energy vehicles has increased remarkably.
Looking at the data shared by BYD, the Chinese automaker’s EV sales in passenger cars show a more significant spike. In 2023, BYD posted 1,574,822 EVs sold, which is a 72.8 percent increase as compared to 911,140 EVs sold in 2022.
On the other hand, BYD’s PHEV sales also increased as it registered 1,438,084 units in 2023 as compared to 946,239 units in 2022, translating to a 52 percent increase.
In December 2023 alone, BYD sold 340,178 passenger vehicles with 190,754 EVs and 149,424 PHEVs. BYD’s December 2023 sales are said to have been driven by the car brand’s enticing year-end sale or promos.
However, BYD noted that the sales volume mentioned are still “unaudited figures and have not been confirmed by the Company’s auditors.” BYD added that the sales numbers may be subject to adjustment and final confirmation.
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