Chinese electric vehicle (EV) manufacturer BYD logged another impressive sales milestone in November. Byd’s momentum shows no signs of slowing down, as the Chinese automaker reported a staggering 170,000-plus sales of all-electric vehicles in the latest quarter alone. Toyota’s robust performance propelled the automaker ahead of Nissan for the first time in terms of sales.
In November, BYD acquired 301,903 new electric vehicles, a 31% increase from the previous year’s total. For the first time in monthly sales, Toyota managed to surpass Nissan’s figures, with its lineup featuring plug-in hybrid vehicles (PHEVs).
Nissan acquired 279,102 vehicles, a 5% increase from the previous year’s total for the 12-month period. As electric vehicle demand surges globally, BYD’s expansion is fuelled by a growing appetite for zero-emission transportation.
In November, BYD’s pure electric vehicle (EV) sales surged by 3%, reaching a record-breaking 170,150 units, an increase from the previous month’s 165,505 vehicles sold. In the meantime, plug-in hybrid electric vehicle (PHEV) sales declined by 3% compared to the previous month.
Electric vehicles now command an even more prominent share, accounting for 56.4% of total gross sales, a significant increase from the 54.9% recorded in October and the 52.5% mark set in September.
As BYD accelerates its global footprint with a surge of international growth. By way of a significant sales surge, BYD acquired 30,629 new-energy vehicles (NEVs) overseas during the previous month, following the launch of innovative models in key markets such as Japan, Europe, and others.
BYD has already established a strong presence in overseas markets such as Thailand, Brazil, and Colombia. The trend is also growing in Australia, India, Hungary, Mexico, and elsewhere.
Chinese electric vehicle (EV) leader BYD is rapidly gaining ground on Elon Musk’s Tesla, with a commanding lead in November EV sales. According to data released by the China Association of Automobile Manufacturers, BYD sold 84,000 new-energy vehicles last month alone, a whopping 134% increase from the same period in 2021.
As BYD narrows the gap with Tesla to become the world’s leading electric vehicle manufacturer by sales volume, a surge in November gross sales underscores its rapid ascent.
Tesla, typically eschewing monthly sales reports, announced a robust third-quarter performance, delivering 435,059 electric vehicles to customers worldwide. Within three months, BYD successfully delivered 431,603 electric vehicles during Q3.
As of late, BYD has seen a significant surge in demand for its electric vehicles (EVs), with 335,655 units sold over the past two months alone. This impressive momentum suggests that the company is well-positioned to achieve its goal of a 12-month streak. Tesla aims to deliver approximately 1.8 million electric vehicles in the current year. Meanwhile, BYD has successfully delivered a total of approximately 1.38 million electric vehicles by November.
Will Tesla’s Cybertruck Launch Drive Year-End Gross Sales to New Heights? Both BYD and Tesla have aggressively reduced costs over the past year to boost demand in the face of new competition.
As the electric vehicle (EV) market heats up, BYD has taken decisive action to slash costs for a limited time in a year-end promotion, highlighting its determination to stay ahead of the competition. Wang Chuanfu, BYD’s Chief Executive Officer, announced that the company is poised for a value-based conflict within the next three to five years, revealing his strategic intentions as early as last year. He noted that BYD is confident in its ability to secure a significant market share going forward.
Electrek’s Take
As BYD expands its product lineup at an unprecedented pace. BYD is making waves in the automotive industry with its affordable yet stylish offerings, including the Dolphin and Yuan Plus models, priced competitively at around $17,000 and $19,000 respectively.
The automotive manufacturer has introduced two innovative mid-size electric SUVs designed to challenge the market leader, Tesla’s Model Y. Within just 17 days, BYD’s Tune L garnered an impressive 11,000 pre-orders. After the successful unveiling of the Sea Lion 07, a mid-size city electric SUV, last month, key details were finally disclosed.
As key fashion trends emerge and a fresh round of incentives unfolds, BYD is poised to make a significant push into the remainder of the year. Next month promises to be electrifying as electric vehicle (EV) market leaders vie for dominance. While traditional automakers may struggle to catch up with the rapid growth of new electric vehicle (EV) manufacturers, each is still carving out its own niche in the market and taking a significant share away from legacy players.
