BYD’s Feb. sales surge 280.42% YoY, while tumble 50.65% MoM

Shanghai (Gasgoo)- BYD's new car sales in February reached 20,927 units, according to the company’s announcement, skyrocketing 280.42% year on year due to the low base for the coronavirus-hit year-ago period, while plunging 50.65% month on month mainly because of the Spring Festival holiday.

The automaker saw its new energy vehicle (NEV) sales soar 269.43% from a year earlier to 10,355 units in February, including 7,835 all-electric PVs (+209.32% YoY) and 2,288 plug-in hybrid PVs (+1010.68% YoY).

BYD Tang; photo credit: BYD

Last month, the company also sold 10,572 oil-fueled vehicles, a year-on-year hike of 291.85%. The sedan, SUV and MPV sedan all recorded increase of over 200%.

For the year of 2020, BYD sold 189,689 NEVs, only 25% of which were from the PHEV unit. According to local media reports, BYD aims to sell 400,000 NEVs in 2021, which are split on a fifty-fifty basis by BEVs and PHEVs (DM). If the goal was officially confirmed, the automaker needs to sell nearly 370,000 NEVs in the following 10 months to fulfill the target, and roll out five to six new models this year.

Regarding new products, the BEV version of the BYD Qin Plus has been included in a catalogue issued by China’s Ministry of Industry and Information Technology (MIIT). It is 170kg heavier than that of the Qin Pro EV in curb weight and is expected to feature a longer range.

Song PLUS DM-i; photo credit: BYD

On Jan. 11, BYD launched its DM-i super hybrid technology that focuses on ultra-low fuel consumption. At the same time, BYD also kicked off the presale of three new models armed with the DM-i system, namely the Qin PLUS DM-i, the Song PLUS DM-i and the Tang DM-i. They are about to hit the market this month.