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.
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%.
