BYD closes 2024 with a massive sales milestone, surpassing 4 million NEVs sold, driven by BEVs and PHEVs

In a remarkable achievement, BYD (HKG: 1211, OTCMKTS: BYDDY) has announced its best-ever sales performance in December, with a record-breaking 514,809 new energy vehicles (NEVs) sold. This marks the third time the company has surpassed the 500,000-unit milestone and represents its seventh consecutive month of setting new sales records.

For the full year 2024, BYD has shattered expectations, reaching an impressive 4.27 million NEVs sold, further solidifying its position as a leader in the global electric vehicle (EV) market. This surge in sales represents a substantial 50.95% increase from 341,043 units sold in December 2023 and a slight 1.58% increase from November’s figures.

BYD’s transition from internal combustion engine vehicles to 100% electric and hybrid models continues to pay off. Since March 2022, the company has stopped producing conventional gasoline-powered cars, fully committing to plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). This strategic move has paid dividends, as the company’s NEVs now include both passenger and commercial vehicles, with significant growth in both segments.

In December, BYD’s passenger NEVs led the charge with a record 509,440 units sold, up 49.76% from last year and a slight 1.08% increase from November. Meanwhile, the company’s commercial NEVs also saw an astounding surge, with sales up 520.69% year-on-year, reaching a record 5,369 units.

The company’s battery electric vehicle (BEV) sales also hit a significant milestone, with 207,734 BEVs sold in December alone. This represents an 8.90% year-on-year increase and a 4.88% growth compared to November.

This impressive performance reflects the growing demand for clean energy vehicles as consumers continue to shift away from traditional fossil fuel-powered cars. With a focus on sustainability and innovation, BYD’s impressive results underscore the company’s ability to meet the evolving needs of the global automotive market.

As the electric vehicle sector continues to gain momentum, BYD’s success is expected to inspire further growth in 2025 and beyond, positioning the company for continued dominance in the rapidly expanding NEV market.