China-based electric vehicle (EV) maker BYD (BYDDY) made stellar delivery numbers of 274,386 new energy vehicles (NEVs) in August. This marks a 57% year-over-year increase and 4.7% sequential growth. Interestingly, BYD has set new delivery records for the past four consecutive months.
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BYD’s NEVs consist of both passenger cars and commercial vehicles. In August, the company sold 300 units of commercial NEVs, down 68% year-over-year and 71.6% sequentially.
Meanwhile, BYD sold 274,086 passenger cars during the month, reflecting a 57.5% increase from the same period last year and a 5% growth compared to the 261,105 units sold in July.
Furthermore, the company’s passenger NEVs encompass battery electric vehicles (BEVs) and passenger plug-in hybrids (PHEVs). In August, BEV sales totaled 145,627 units, up 76.1% year-over-year and 8.1% from July. In addition, PHEV sales stood at 128,459 units, up 40.7% year-over-year and 1.7% sequentially.
Moving on, in August, the company reached an installed capacity of around 13.928 GWh for NEV power and energy storage batteries. This reflects an increase of 84.4% year-over-year and 12.3% sequentially.
Ending Thoughts
BYD’s strong position in the Chinese market, efforts to expand its international presence, and plans to launch new EVs to attract customers are encouraging. Finally, Warren Buffett-backed BYD’s in-house production of batteries and semiconductors helps offset the impact of the supply chain issues.
Since the start of this year, BYDDY shares have advanced more than 24%.
