BYD just hit the 1 million EV sales mark for 2024 after a record-breaking August

BYD topped the 1 million EV sales mark following a record-breaking August. China’s leading EV maker continues surging ahead as new models and tech draw in buyers.

BYD tops 1 million in EV sales for 2024

After selling another 145,627 electric vehicles last month, BYD has now sold over 1 million EV sales in 2024.

BYD reported August sales numbers, showing a record 373,082 new energy vehicles (NEVs) sold, including plug-in hybrids (PHEVs) and all-electric cars.

With over 373K vehicles sold last month, BYD topped its previous record of 342,383 NEVs sold in July. BYD has now set a new NEV sales record for three consecutive months.

Plug-in hybrids accounted for most of the growth, with 222,384 units sold, up 73% compared to August 2023. August marks BYD’s sixth consecutive record PHEV sales month. BYD has now sold over 1.3 million PHEVs through August 2024, up 43% from the roughly 886,000 sold last year.

Meanwhile, BYD sold 148,470 EVs last month, representing 2% growth YOY and 15% from July. The growth was enough to push BYD over the 1 million EV sales mark for 2024.

BYD has sold 1,004,623 EVs through the first eight months of 2024, up 12% from the 897,220 sold at this time last year.

BYD’s overseas sales reached 31,451, up 26% YOY and 5% compared to July, as it expands into new markets.

The automaker has sold nearly 265,000 vehicles overseas through August as it expands into new markets.

Electrek’s Take

BYD is driving growth as new tech enables lower-priced, more efficient models. For example, BYD introduced its DM 5.0 hybrid system in May, which is already underpinning several new models. BYD said the new system slashes costs and enables lower fuel consumption.

The company also released its new e-Platform 3.0 for EVs earlier this year, which offers improved efficiency and charging. Will the new tech help boost EV sales?

After topping Honda and Nissan to become the seventh-largest automaker in the second quarter. With new lower-priced, more efficient models rolling out, BYD is making a strong push into the end of the year.

With overseas plants planned in Pakistan, Turkey, Mexico, Brazil, and Turkey, BYD hopes to meet the growing demand for affordable solutions in key overseas markets.