BYD has achieved a major milestone by reporting another record performance in August, which allowed it to surpass 1 million electric vehicle (EV) sales for 2024.

In August 2024, BYD reported selling 373,082 new energy vehicles (NEVs), setting a new monthly record for the third consecutive time. Including both plug-in hybrids (PHEVs) and all-EVs, this represents a 35.97% increase year-on-year and an 8.97% rise from July. 

Moreover, the August sales breakdown shows 148,470 battery electric vehicles (BEVs) sold, up 1.95% year-on-year, and 222,384 PHEVs sold, marking the sixth consecutive month of record PHEV sales.

With August’s strong performance, BYD has sold 1,004,623 EVs in the first eight months of 2024, surpassing the 1 million mark and showing a 12% increase compared to the same period last year. As a result, this achievement cements BYD’s position as a leader in the global EV market.

Interestingly, BYD’s PHEV sales have shown particularly strong growth, accounting for about 60% of BYD’s August sales with 1,314,175 units sold year-to-date, representing a 48.3% year-on-year increase. This surge may be attributed to the introduction of BYD’s new DM 5.0 hybrid technology, launched in May, which offers improved fuel efficiency.

BYD’s international expansion continues to gain momentum. The company has sold 264,869 EVs overseas in the first eight months of 2024, more than doubling last year’s performance with a 125.46% year-on-year increase. In August alone, BYD sold 31,451 EVs in overseas markets, a 25.69% increase from the previous year. If this trend continues, BYD is on track to sell nearly 400,000 EVs outside of China by year’s end.

With sales performance going strong for BYD despite shifting market trends, the company’s international expansion regarding production has been widely noted especially in Southeast Asia and Europe. In particular, BYD has also recently taken direct control of its sales operations in Germany after acquiring Hedin Electric Mobility GmbH, the current importer and distributor of BYD EVs in Germany. 

Read More: BYD Celebrates 8 Million EVs While Expanding Into Southeast Asia

As BYD continues to introduce new models and expand its production capacity, the company appears well-positioned to maintain its growth trajectory. With its EV strategy making notable progress, BYD will likely remain a formidable force in the global EV industry and accelerate the transition to electric mobility. 

Want to learn more about EV? Thinking of buying an EV? Head over to EV.com and discover more.

EV.com is the world’s 1st Electric Vehicle (EV) marketplace that aims to promote zero-emission mobility by providing a platform for consumers to learn about, compare, and purchase EVs.