Sales soared by 62%
BYD reported sales of 3,024,417 new energy vehicles in 2023, up 62.3% from 2022. Last year, 1,863,494 cars were sold. 3,045,231 units were produced in 2023, up 62.2% from 2022.
BYD's commercial vehicle segment played an important role with sales of 11,511 units in 2023. This category includes electric buses, trucks and other vehicles, which saw an increase of 88.2%.
Looking at the passenger vehicle business, BYD's sales in this segment reached 3,012,906 units in 2023, up 62.2% from 2022. A notable trend in this segment is the rise in sales of pure electric models, which totaled 1,574,822 units, up 72.8% year-on-year. Battery electric vehicle (BEV) sales accounted for 52.3% of total passenger vehicle sales. Sales of plug-in hybrid models reached 1,438,084 units in 2023.
The BYD group includes four major automobile brands — BYD, Denza (a joint venture with Mercedes-Benz), Fang Cheng Bao (focusing on off-road performance), and YangWang (a luxury brand with an average price of over $150,000).
In 2023, a total of 242,766 vehicles were sold in markets outside China, up 334% from 2022.
Recall that Geely sold about 1.7 million cars in 2023, and Tesla sold 1.82 million cars.