BYD, the world’s leading manufacturer of new energy vehicles, achieved record-high NEV sales for the sixth consecutive month in October 2023. This follows a record sales performance posted by BYD in the preceding third quarter. BYD has so far in 2023 sold over 2.37 million new energy passenger cars, with cumulative NEV sales now surpassing 5.7 million units, further crystallizing the brand’s number one ranking for NEV sales on a worldwide scale.
BYD sold 301,833 units of new energy passenger vehicles in October 2023, surpassing the 300,000-unit threshold for the first time. This comes on the back of BYD accomplishing record-high car sales six months in a row. Such a consistently strong performance and increasing market share has been pivotal to BYD becoming number one in the world for NEV sales and the top five global car brand in terms of all car sales in 59 countries, including China, the EU (European Union), the UK, Japan, and Korea.
Fundamental to this robust performance is consumer demand for BYD’s innovative electric car range. Continuous investment in technological innovation enables BYD to produce new energy vehicle products that are well-suited to consumers’ needs. In the first three quarters of this year, BYD's R&D investment amounted to 24.938 billion yuan (about €3.21 billion), an increase of 129.42 per cent year-on-year, with R&D costs significantly exceeding net profit for the same period.
BYD’s passenger vehicles have now entered markets in 58 countries and regions around the world. BYD’s regional presence has been elevated further following the formation of strategic partnerships with high-profile dealer groups providing localised sales and aftersales services in their respective countries. Specifically in the European market, BYD has launched in 19 European countries with five new EV models and opened more than 170 stores in prime city locations. BYD is committed to offering accessible choices for green mobility, combining value with premium high-tech, as well as inspiring retail experiences, with the reassurance of high levels of local customer care.
Expanding its new energy vehicle footprint to over 400 cities in 70 countries and regions, spanning six continents, BYD’s eco-friendly solutions are reducing the equivalent of over 40 million tonnes of carbon emissions as of October 2023, underlining the company’s commitment to sustainability and vision to ‘Cool the Earth By 1°C’.