Chinese automaking giant BYD again increased its global plug-in electric car sales in May, approaching its record level set back in December.

BYD's passenger plug-in car sales amounted to 330,488 units last month, including over 15,000 EVs from its sub-brands. That's 38% more than a year ago. If the volume goes up by another 10,000, the company will set a new record—potentially this month.

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BYD might beat Tesla in Q2

BYD couldn't sell more all-electric cars than Tesla in the first quarter of 2024, although the race in Q2 might be close. It's expected that the company will sell more than 420,000 units this quarter.

BYD's all-electric car sales in May amounted to 146,395, up 22% year over year. However, the company's growth in the EV segment has slowed down recently.

Last month, the Chinese manufacturer also sold 184,093 PHEVs, 54% more than a year ago. Plug-in hybrids are now at a much higher level than all-electric cars.

BYD passenger plug-in car sales last month (YOY change):

  • BEVs: 146,395 (up 22%)
  • PHEVs: 184,093 (up 54%)
  • Total: 330,488 (up 38%)

BYD also sold 1,329 commercial electric vehicles for a total of 331,817 plug-in vehicles last month.

BYD plug-in electric car sales – May 2024

Of the total number, 37,499 BYD plug-ins were exported (up 267% year-over-year). That's about 11% of the company's total volume.

So far this year, BYD has sold over 1.26 million passenger plug-in electric cars, 27% more than a year ago.

BYD passenger plug-in car sales year-to-date (YOY change):

  • BEVs: 580,974 (up 19%)
  • PHEVs: 685,960 (up 35%)
  • Total: 1,266,934 (up 27%)

For reference, in 2023, BYD sold over 3.0 million passenger plug-in electric cars, 62% more than in 2022. In 2023, BYD became the largest Chinese carmaker and car brand. In 2024, the company intends to achieve an average growth rate of over 20%.

Top Models

The top nameplate in BYD's lineup last month was—as usual, without any surprise—the Song family, with 82,174 units sold (primarily plug-in hybrids). That's a 116% increase year-over-year.

Next was the BYD Qin sedan, with 57,072 units (BEV + PHEV), up 30% year over year. It was followed by the all-electric BYD Yuan family (40,231) and BYD Seagull (35,370).

 
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