BYD’s NEV sales plunge 58.34% in first half of 2020

Shanghai (Gasgoo)- BYD Company Limited announced a sales volume in June of 33,725 units, which were 12.93% less than that of the year-ago period, while represented a month-on-month growth of 5.98%.

For the first half of the year, the company sold a total of 158,628 new vehicles, logging a 30.45% plunge over a year ago.

To be specific, BYD's NEV sales amounted to 14,165 units last month, plummeting 46.69% from the previous year, but surging 25.08% compared to May. With 60,677 units sold in total, its NEV sector was hit by a year-over-year decrease of up to 58.34% for the first six months.

(BYD Han EV, photo source: BYD's WeChat account)

Part of the explanations for the NEV sales downturn is that consumers' purchasing power was somewhat curtailed due to their wait-and-see attitude towards the forthcoming BYD Han, an all-new flagship NEV sedan model that is set to hit the market in July, according to a senior analyst from Gasgoo Auto Research Institute (GARI). On the other hand, consumers have been distracted by other new products as automakers are scrambling to deploy NEV businesses and put NEV products onto the market, he added.

(BYD Song, photo source: BYD's WeChat account）

There were 19,560 oil-fueled vehicles sold by BYD last month, showing an impressive leap of 60.8% from a year earlier. The year-to-date sales of fuel-burning vehicles also vigorously grew 18.85% to 97,951 units, which was entirely attributable to the 187.35% surge achieved by the SUV unit.

The long-anticipated BYD Han will hit the market on July 12 with four variants—three BEVs and one PHEV—offered at one go. It is not only the first mass-produced model that carries BYD's “blade battery”, a new type of new lithium iron phosphate battery (LFP battery) designed to largely increase the energy density of battery pack with greater safety, but also the first one powered by Huawei’s 5G technology. The Internet-famous new model is highly expected to perform as a black horse within BYD's NEV lineup.

(BYD Han DM, photo source: BYD's WeChat account)

The automaker launched its all-new DM plug-in hybrid platform last month. The DM-p more stresses power performance, while the DM-I places a special emphasis on the energy-saving capacity. The Han DM, the first model powered by the DM-p technology, has been available for pre-sale.