BYD October sales declines 29 percent to 35,757 units

Shanghai (Gasgoo)- According to the information of China Passenger Car Association (CPCA), the total sales of BYD in October are 35,757 units, a decrease of 29.1%. Although the sales of new energy vehicles increase, the number is too small to drive the overall sales. The decline directly affects the performance of BYD and the net profit fell 23.82% in the first three quarters of this year.

By the end of October, the cumulative sales of BYD are 310,805 units, an decrease of 19.5%. As to the sales of certain models, In specific performance, F3 is the most popular model, with a total sales of 8,908 units last month, followed by the Song. The sales of Tang, F0, G5 and G6 are all less than 1,000 units.

Compared with conventional fuel-powered vehicles, new energy vehicles perform well. In October, the sales of BYD new energy vehicles are 12,466 units, an increase of 20%. 

This year BYD does not have greater action in the product launch with only Song DM, Song MAX and few key models. The weak competitiveness of a series of old models and the overall outdated design are the major reasons for poor performance. Due to the sales decline in the first three quarters, the net profit attributable to shareholders of listed companies also declines to RMB 1.069 billion, a decrease of 23.92%. According to BYD official, the sales of new energy cars are expected to keep growth trend in the fourth quarter.

At the end of September, BYD launched a new MPV model Song MAX. In the first month, the sales volume reached 4,045 unitss. Next year BYD will also launch the next generation Qin, Tang and other models. E5, E6 also will be upgraded in vehicle range.