Chinese EV and battery maker BYD (BYDDY) delivered 235,197 vehicles in December, up 150% year-over-year. Despite facing COVID-19-related production and supply chain issues, the company was able to set a new record in the month of December.
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The monthly sales included 111,939 pure electric passenger cars and 122,659 plug-in hybrid vehicles, which increased by 132% and 176%, respectively, from December 2021.
Furthermore, in the fourth quarter, BYD sold 683,440 vehicles, up 157% from the same period last year. For the full-year 2022, the company delivered 1.86 million cars, reflecting 209% growth from 2021.
Meanwhile, for December 2022 deliveries, BYD’s competitors Nio (NIO), Li Auto (LI), and XPeng (XPEV) have reported year-over-year growth of 51%, 50%, and 94%, respectively.
Ending Note
BYD’s in-house production of batteries and semiconductors helped offset the impact of the supply chain issues to some extent. Further, the company plans to launch its models in Europe this year, which should help it expand in international markets.
It is worth mentioning that Warren Buffet’s Berkshire Hathaway (BRK.A) sold 1.33 million shares of BYD in mid-December 2022. Buffett now holds a 14.95% stake in the company. Moreover, concerns over the slowdown in China’s economy and other macroeconomic woes have pulled down the shares of Chinese stocks. Thus, shares of BYD have tanked 38.5% over the past six months.
