BYD just shattered its 2024 delivery goal after another record-breaking sales month

China’s leading EV maker has already sold more vehicles this year than expected. After another record-breaking sales month in November, BYD officially topped its 2024 delivery goal as demand heats up.

BYD tops its 2024 delivery goal as sales hit new record

BYD sold 506,804 new energy vehicles (NEVs) in November, topping the previous record of 502,657 set last month. It was also BYD’s second straight month crossing the 500,000 sales mark.

Of the 504,003 passenger vehicles sold last month, 305,938 were plug-in hybrids (PHEVs), while the remaining 198,065 were all-electric (EV).

BYD’s EV sales rose 16% year-over-year (YOY) and 4% from the roughly 190,000 sold in October 2024. Although PHEV sales were up 133% YOY, it was a slight decrease from the 310,912 sold last month, breaking BYD’s eight-month streak with higher PHEV sales.

The record-breaking November sales were enough to push BYD over its 2024 delivery goal, and it still has another month left.

With 3,740,930 passenger vehicles sold through November, BYD officially topped its target of delivering 3.6 million units this year.

Morgan Stanley analyst Tim Hsiao’s team claimed BYD was raising its target to 4 million, but the company denied the report in September. According to CnEVPost, BYD’s general manager, Li Yunfei, explained that although “current orders and sales are really good,” he didn’t hear anything about raising the goal.

The accomplishment comes after BYD built its ten millionth NEV last month. On November 18, BYD announced it was the “world’s first automaker to achieve the rollout of the ten millionth new energy vehicle.”

Through the first ten months of 2024, BYD has sold over 1.5 million EVs. Tesla delivered over 1.3 million through September, but since it doesn’t report monthly sales numbers, we will have to wait until the end of 2024 to find out which company will take the EV crown at the end of 2024. Stay tuned for more.

Electrek’s Take

BYD continues to be a force to be reckoned with. After its second straight month of selling over 500,000 vehicles, the EV leader is closing in on global automakers like Ford.

For the first time in Q3, BYD delivered more vehicles than Ford, Nissan, and Honda. Will it continue climbing the global auto ranks?

BYD is best known for its ultra-affordable EVs, like the best-selling Seagull, which starts at under $10,000 (69,800 yuan) in China. Meanwhile, the company is quickly expanding into new segments, with new pickup trucks, smart midsize SUVs, and luxury EVs hitting the market.

As other automakers, including Ford, are scaling back, BYD is on a major hiring spree as it ramps up production to meet demand.

Source: CarNewsChina, BYD