BYD sees NEV sales shoot up 84.75% YoY in Oct.

Shanghai (Gasgoo)- BYD's new vehicle sales reached 47,732 units in Oct., jumping 16.05% year on year and rising 13.15% month on month. For the first ten months, the automaker sold a total of 316,707 vehicles, posting a 15.98% decrease over a year ago, 3.92 percentage points lower than the drop in Jan.-Sept. sales.

The sales of oil-fueled vehicles slid 14.17% from a year earlier to 24,515 units last month, while grew 9.92% compared to September. Fuel-burning vehicle business was sustaining consecutive year-over-year growth from March to August, while started facing decrease in September.

BYD saw its new energy vehicle (NEV) sales surge 84.75% from the year-ago period to 23,217 units, of which 14,919 units were all-electric passenger vehicles, a remarkable year-on-year hike of 96.61%.

NEV sales have posted a solid rebound during the past two months. However, on the whole, BYD's NEV unit was still outperformed by its oil-fuel vehicle arm mainly due to the coronavirus pandemic and the phase-out of NEV subsidy starting the second half of 2019.

BYD Han EV & DM; photo credit: BYD

The advent of the BYD Han flagship sedan also served a driving force to the overall NEV sales. According to BYD, the sales of the Han (including BEV and PHEV versions) reached 7,545 units in October, and totaled 18,363 units since it hit the market in July.

Among the vehicles sold last month, 4,896 units were from BYD’s Tang family. Besides, the sales of the Song, the Qin and the Yuan series reached 20,375 units (+13.8% MoM), 6,811 units (+81.1% YoY) and 1,112 units (+4.3% MoM) respectively. The BEV-focused e series had a sale volume of 3,194 units, a month-on-month growth of 25.1%.