March BYD Plug-In Car Sales In China Rebound From Earlier Government Gaffe

APR 23 2017 BY MARK KANE 1

The good news is that BYD plug-in car sales have begun to rebound strongly from the Chinese government’s self-inflicted collapse of the plug-in segment at the beginning of the year (as bureaucratic shuffling, and red-tape meant no EV subsidies, for any offering…for almost the first two months of the year).

BYD Tang

However, while the 6,069 plug-in sold in March was almost triple the ~2,000 moved in February and 12x higher than January (~500 sales), the damage is still being felt to some degree, as a year ago more 7,000 sales were made.

BYD’s shareholders for sure will not be happy with the first quarter results of the company.  BYD even sent out a proactive note to investors saying that EV incentives earlier in the year will hurt profits in Q1.

According to sales reports, four out of five BYD’s plug-in models rebounded to reach the 1,000+ units a month level, while Qin stayed low at just 248 registrations.

Given the recent trends, we expect to see both BYD, and overall plug-in sales in China, to start setting new records again for April.

BYD sales breakdown:

  • Qin EV300 – 1,678 (2,046 YTD)
  • e5 – 1,567 (1,977 YTD)
  • Tang 1,509 (2,806 YTD)
  • e6 – 1,067 (1,259 YTD)
  • Qin – 248 (631 YTD)

BYD plug-in electric car sales in China – March 2017

source: ChooseAuto and EV Sales Blog

Categories: BYD, China, Sales

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1 Comment on "March BYD Plug-In Car Sales In China Rebound From Earlier Government Gaffe"

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From what I understand it was not really a “gaffe” but more a temporary ban on subsidies to have time to fight numerous fraud cases by fake small EV manufacturers.

I think everyone here will appreciate that Chinese subsidies only go to companies really involved in the strong Chinese EV momentum !