BYD Reports Sales Of 7,600 Plug-In Electric Vehicles In First Half Of 2014

3 years ago by Eric Loveday 20

BYD Qin

BYD Qin

BYD e6

BYD e6

According to BYD, sales of its plug-in electric vehicles checked in at ~ 7,600 units in the first half of 2014.  That’s an impressive figure for sure and shows how serious BYD is when it comes to electric vehicles.

In fact, BYD controlled 37% of China’s plug-in electric vehicle market during the first half of 2014 and was the #1 seller of vehicles with a plug in China.

BYD predicts sales of plug-in electric vehicles to increase more rapidly as China tweaks rules/laws to encourage greater EV adoption.

BYD Chairman Wang Chuanfu, stated:

“Given the challenging environment for traditional car sales, we would put more emphasis on our push to boost electric car sales by introducing more new models in the second half.”

Those new models include the BYD-Daimler Denza EV and a PHEV SUV called Tang.

Source: Wall Street Journal

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20 responses to "BYD Reports Sales Of 7,600 Plug-In Electric Vehicles In First Half Of 2014"

  1. Big Solar says:

    Good time to buy byddf stock?

    1. Mikael says:

      What you have to take into consideration for the stock is that they are a big ICE company first and foremost.

      So it might be worth waiting to see if it will be dropping because of the dropping ICE sales.

      But since they are all will be a very strong part of the growing EV business and do so with both PHEV’s, BEV’s and different vehicles like cars, trucks, buses it will surely be a good investment in the long run even though the stock might not be at it’s lowest point today if you look at it from a short term perspective.

      1. DaveMart says:

        I wouldn’t worry about it.
        They are a fair way towards owning the electric bus market, which in turn is likely to own the world bus market.

        That is a big market.

        Then there is storage, grid and home.

        I would much rather have BYD’s LiFePo in my home than Tesla’s NCA.

        It is much more stable.

        1. Mikael says:

          Maybe I should have added that BYD is a substantial part of my stock portfolio, so personally I’m confident about the company and its stock. 🙂

          1. Big Solar says:

            I would also be concerned if Buffet sells his share that I am guessing he bought at under 2 bucks…

            1. Mikael says:

              Buffet is going for world domination so I’m sure he will be owning stocks in BYD 20 years from now. But as you say, if he sold his stocks then I’d be very worried.

              1. Big Solar says:

                Thats funny, thats exactly what I was thinking (world domination).

  2. Big Solar says:

    How many did they sell in 2013?

    1. Jay Cole says:

      Just under 3,000 units…mostly e6s

  3. Josh says:

    “Given the challenging environment for traditional car sales”

    Is the car market in China tanking? Most media accounts make it seem like the best place to be selling vehicles. Maybe I have missed something.

    1. DaveMart says:

      They are buying Western brands for conventional cars.

      Its Audi’s biggest market, for instance.

      1. Mikael says:

        So true. And a big reason why the ICE division of BYD is having a hard time.

        But there will come a time when domestic cars get the status and quality of foreign even in China.
        And it’s great to be in the front line of EV’s since already today there are western people looking at for example the BYD Qin and BYD Tang and saying “I want that one! Why isn’t it sold here?”
        And when the chinese people realise things like that then the status will definitely improve.

        1. starteam003 says:

          hi Mikael..

          would you recommend buying BYD stock? I been doing a lot of research of this company for awhile now and I really want to pull trigger..

          what do you see BYD going forward maybe next 4-5 years from now?

          1. Mikael says:

            I would recommend buying it. But remember that I’m no expert and it’s your money and your decision.
            They have a solid ground are a stabile company with their feet in different areas with great potential (batteries and energy storage, fleet sale BEV’s, attractive PHEV’s in sync with the markets needs and wants, ICE’s which keep them floating no matter other fluctuations and of course a big lead in the BEV bus department where they are just waiting to explode as a company).

            I see it as a safe bet that probably won’t give you 3-4 times your investment in 4-5 years but will stay way above the stock market average.

            And in an even longer perspective I see the chinese seeing the worth of domestic cars and the quality of it (like the Japanese/US/Korean domestic preference) and the government pushing truly domestic brands even further by having a different set of rules for companies like BYD.

            1. DaveMart says:

              The Chinese are considering making all Government car purchases one third electric.

              If so then I don’t know how many cars are involved, but with the 1.3 billion people in China that seems likely to be a pool of around the same number of cars as a medium sized country!

              What is the betting that is preferentially loaded to Chinese companies?

            2. DaveMart says:

              Interview with BYD CEO Wang:
              http://www.marketwatch.com/story/in-china-hybrids-to-beat-electric-cars-for-now-says-byd-chief-2014-09-16

              He sees plug in hybrids as the way to go, with BEVs for cars as opposed to buses which have more fixed routes a long way off.

              1. Mikael says:

                The chinese are often very practical. They want to build things that they can sell. Not because it’s politically correct or to make some kind of splash and exotic alternative vehicle.

                Just imagine the sales if the BYD Qin and BYD Tang were from a European/American company and sold in those markets at a reasonable price that you could do when having a battery factory the size of BYD’s to back you.

                The sales would be off the charts. And the potential is definitely there.

                1. starteam003 says:

                  Mikael…why is it that Tesla stock is over $200 and BYD stock is not even close to that?

                  and to me BYD products are much better then Tesla..life sometimes is just not fair..

                  I think wall street has not heard of BYD yet that’s why the stock price did not reflect as such..you agree?

                  1. Mikael says:

                    The Tesla stock is just sick, it follows no normal rules. Just like the company itself, it breaks all traditional structures.

                    1. startem003 says:

                      hi mikael.

                      what’s your prediction on the stock price by Dec 31st? I bought 1000 shares on Friday. hope its a good investment.

                      btw- are you expert in EV? what is your specialty?

                      thanks