BYD posts 6.14% YoY dip in Jan.-Feb. 2024 vehicle sales

Shanghai (Gasgoo)- BYD Company Limited ("BYD") announced on March 1 that its vehicle sales amounted to 122,311 units in February 2024, sliding 36.84% compared to the year-ago period mainly due to the fewer workdays resulting from the Chinese New Year holiday.

For the first two months of this year, BYD saw its cumulative sales shrink 6.14% from a year ago to 323,804 units.  

Of the vehicles sold last month, passenger vehicles (PVs) accounted for 121,748 units of sales, representing a 36.48% drop year-on-year. To be specific, the battery electric vehicle (BEV) and the plug-in hybrid electric vehicle (PHEV) sectors recorded a sales volume of 54,908 units (-39.42% YoY) and 66,840 units (-33.84% YoY), respectively.

As for overseas market performance, BYD exported 23,291 PVs in the same month, displaying a remarkable year-on-year jump of 55.3%.

BYD Yuan PLUS Champion edition; photo credit: BYD

Breaking down the Jan. PV sales by specific product series and brands, the sales of the Dynasty and Ocean series summed up to 114,060 units, while DENZA and FANGCHENGBAO brands sold 4,598 and 2,310 vehicles, respectively. Moreover, there were 780 luxury vehicles under the YANGWANG brand sold last month.

In addition, BYD sold 563 commercial vehicles last month, which included 201 buses.