Chinese EV juggernaut BYD hit its tenth straight global sales record this year, with the sale of 229,942 plug-in electric vehicles in November, according to CarScoops. That number represents a year-on-year increase of a remarkable 155%.
At this rate, there is a high possibility that BYD can beat the leading American automaker, Tesla, in global sales by the first quarter of 2023, as per Bloomberg. Yangwang in Q1 2023 and the unnamed brand intended for “diversified demands” are two new brands that will help BYD rise further in the market.
“[BYD] has now established itself unequivocally as the market leader in the race to electrification, and I believe it will parlay that into a multi-brand strategy. They’ll be a pioneer if they do.”
Automobility Founder and CEO Bill Russo told Bloomberg
BYD overall sales
Since October, battery electric and plug-in hybrid vehicle sales have exceeded 100,000 units per month.
BEV sales grew in November with a 10,000-unit difference, recording a YoY increase of about 147% to 113,915. Meanwhile, PHEVs had a substantial growth of 164% to 116,027 from the previous year.
BYD plug-in car sales – November 2022
- BEVs: 113,915 (up 147% year-over-year)
- PHEVs: 116,027 (up 164% year-over-year)
- Total: 229,942 (up 155% year-over-year)
However, it must be noted that the overall number of plug-in car sales for November would be 230,427 if we included the 485 commercial electric vehicle sales.
BYD plug-in sales (January-November)
Remarkably, BYD has far exceeded its 2021 sales record with over 1.62 million plug-in electric car sales this year to date.
For reference, the Chinese automaker sold 593,745 plug-in vehicles in the previous year. However, this year has a better outlook, with projected PEV sales of nearly 2 million units.
- BEVs: 799,202 (up 193% year-over-year)
- PHEVs: 823,579 (up 261% year-over-year)
- Total: 1,622,781 (up 224% year-over-year)
It would not come as a surprise if BYD ends up dominating the global market next year due to its more affordable and competitive products. It also aims to launch several brands that can satisfy a variety of demands.
