BYD sold one million vehicles in Q1/2025
The 1,000,804 NEVs that BYD sold in Q1/2025 are a 59.8 per cent increase compared to the same period last year. Of these, 986,098 vehicles were in the passenger car segment, with the remaining 14,706 units being commercial vehicles. BYD has not produced any pure combustion engines since 2022, so NEV sales correspond to total sales.
A look at the passenger car segment shows that there were 416,388 battery-electric cars, 38.7 per cent more than in 2024. However, the growth rate for plug-in hybrids was even stronger. PHEV sales increased by 75.7 per cent to 569,710 units. The bottom line is that 42.2 per cent of NEV passenger vehicles sold were fully electric, while 57.8 per cent were PHEVs.
BYD recorded even faster growth in the commercial vehicle sector, with sales up 688.5 per cent to 14,706 units. However, BYD does not reveal how many of these are BEVs and how many PHEVs. Instead, the company breaks the figure down further into 1,127 buses (+41.8 per cent) and 13,579 other commercial vehicles (+1,169 per cent), presumably vans and trucks.
In addition to the quarterly figures, BYD also published figures for March. These show that 72,723 of the 395,091 NEVs produced were exported. This is worth mentioning because BYD plans to double its exports from 417,204 vehicles in 2024 to 800,000 vehicles in 2025.
Last year, BYD sold a total of around 4.25 million battery-electric cars and plug-in hybrids, roughly the same number as Ford. BYD aims to significantly increase this figure in 2025. Although the approximately one million NEVs from Q1/2025 would only add up to four million NEVs over the year. However, the first few months of the year in China are traditionally rather weak. As the above-mentioned growth of 59.8 per cent compared to the same quarter of the previous year shows, BYD is already well on the way to selling significantly more cars over the year.
BYD, which was founded 30 years ago in Shenzhen, also presented its business figures for 2024 a few days ago. It achieved an operating profit of around 777 billion yuan (99.3 billion euros) in 2024, an increase of 29 per cent compared to the previous year. Slightly more than 617 billion yuan (78.9 billion euros) came from, cars and related products. Total profits rose by 34 per cent to a record 40.3 billion yuan (5.15 billion euros).
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