BYD suffered MoM sales drop of 37.9% in February

Shanghai (Gasgoo)- BYD delivered 26,273 vehicles in February, slumping 37.9% month on month. Among them, sales of new energy vehicles reached 8,357 units with a month-on-month growth of 14%. Deliveries of fossil fuel-powered vehicle totaled 17,916 units in February, plunging 48.8% compared with January. During the past two years of 2018, BYD sold 68,611 vehicles in total, of which 15,687 units are NEVs.

Taking up 92.7% of BYD's total NEV sales, PHEV saw a MoM sales growth of 7% to 7,631 units. Compared with January, sales of pure electric vehicles reached 605 units, skyrocketing 1340% month on month. While its commercial vehicle underwent a MoM sales drop of 32.4% to 121 units.

In terms of fossil-fuel-powered vehicles, BYD suffered a large MoM sales slump in February. Among them, delivery of sedans suffered the largest MoM sales drop of 80.9% to 2,365 units. Moreover, BYD's SUV and MPV also saw YoY sales decrease in February, which were respectively 31.7% and 31.2%.

In April, 2015, Wang Chuanfu, president of BYD had exposed that the company will abandon the R&D of fossil-fuel-powered vehicles and will focus on the field of electric vehicles. The strategy adjustments may exert great impact on BYD's sales drop, according to the auto industry insiders.