BYD electric vehicle sales rise in April

BYD electric vehicle sales rise in April! BEIJING, May 6 (Argus) — BYD, China’s largest NEV and major battery manufacturer, reported an increase in its NEV sales and battery installations in April.
The increase was mainly due to continued consumer demand for NEVs and demand growth for BYD’s broader portfolio of low-, mid- and high-end NEV models. In order to boost NEV sales through 2025, the Chinese government has extended incentives, especially trade-in subsidies for old cars and relaxed car purchase restrictions in major cities.
BYD’s NEV sales in April were 380,089 units, up 21% year-on-year, including 7,474 commercial NEVs and 372,615 passenger NEVs.
Among NEV passenger vehicles, sales of pure electric vehicles increased 46% year-on-year to 195,740 units, while sales of plug-in hybrid vehicles fell 0.4% to 176,875 units.
The company’s total NEV sales in January-April reached 1.38 million units, up 47% from the same period last year.
BYD stopped producing gasoline-fueled vehicles in March 2022 to focus on manufacturing NEVs. It has been China’s largest electric vehicle producer since 2022. The company’s NEV sales in 2024 totaled 4.272 million units, up 41% from 2023. Market participants expect the company’s sales to reach 5 million to 6 million units by 2025.
BYD has also been expanding overseas production in the past few years, with projects in Hungary, Thailand, Brazil, Uzbekistan, Cambodia, Morocco, India, Turkey and Vietnam, with a total planned capacity of about 1 million electric vehicles per year. The company sold 79,086 NEVs in overseas markets in April and 285,170 NEVs in January-April, up 93% and 105% from the same period last year, respectively.
BYD, also a major battery manufacturer in China, installed 26.478GWh of power and energy storage batteries in April, more than double the same period last year. From January to April, total battery installations reached 79.031GWh, up 87% from the same period last year.