BYD achieves 2020’s first-time YoY sales growth

Shanghai (Gasgoo)- BYD Company Limited (BYD) said it sold 31,382 new vehicles in July, which were up by 1.28% compared with the prior-year period. It is noteworthy that the slight growth was the first-time increase BYD gained this year.

For the first seven months, the company recorded a 26.65% year-on-year plunge by selling 190,010 new vehicles in total.

The oil-fuel vehicle sales added up to 114,233 units in the Jan.-Jul. period, jumping 17.96% from the year ago significantly thanks to the impetus stemming from the Song Pro, the five-seater SUV that hit the market in July 2019. With 16,282 units sold, BYD's fuel-burning vehicle business posted a 12.93% growth from a year earlier.

(BYD Han EV, photo source: BYD)

The NEV business had a sales volume of 15,100 units in July, which were slid 8.85% over the year-ago period. It was rather a big rebound as BYD’s NEV sales had been showing plunge of over 45% for ten straight months.

Regarding year-to-date performance, BYD's NEV sales were still more than halved compared to the same period a year ago.

Notably, in the new energy PV sector, the BEV branch witnessed its July sales evidently grow 9.95% to 10,462 units, terminating the 10-consecutive-month downturn. The increase may owe much to the relatively low year-ago base number resulting from the NEV subsidy phase-out and the launch of BYD's flagship Han EV.

BYD has not released the detailed sales of the BYD Han yet, while industry insiders are bullish about the Internet-famous vehicle that is honored BYD's first mass-produced model carrying the “blade battery” and the first one powered by Huawei's 5G technology.

According to the product planning exposed so far, the new BYD Tang is to go on sale in August. Besides, the BYD D1 (code name) has been included in the MIIT's catalogue, which is likely to be sold this year.