BYD, China's largest electric vehicle (EV) maker, reached a sales record in November and surpassed Nissan.
The EV firm, headquartered in Shenzhen, Guangdong, sold over 170,000 EV units in November, demonstrating its strong performance in the fast-growing EV sector, as reported by Electrek.
This impressive sales figure propelled BYD ahead of Nissan in monthly sales, marking a notable achievement for the Chinese automaker.
The total sales for BYD in November reached a staggering 301,903 new energy vehicles (NEVs), reflecting a substantial year-over-year increase of 31%.
This figure encompasses plug-in hybrids (PHEV), contributing significantly to BYD's beating Nissan in monthly sales.
Chinese automaker BYD's sports sedan, BYD SEAL, is displayed during the press day of the Japan Mobility Show in Tokyo on October 25, 2023.
Tesla's Market Dominance Under Threat
Nissan, while experiencing a 5% growth in sales compared to the previous year, fell behind BYD with 279,102 vehicles sold. BYD's strong expansion aligns with the increasing demand for fully electric cars in key markets, reflecting the overall industry trend toward sustainable and zero-emission vehicles.
The detailed sales breakdown reveals that BYD's pure EV sales reached 170,150 units in November, showcasing a 3% increase from the previous month's sales of 165,505 EVs.
Conversely, PHEV sales experienced a 3% decline month-over-month. The significance of EVs in BYD's overall sales is evident, constituting a substantial 56.4% of total sales, indicating a consistent upward trend from 54.9% in October and 52.5% in September.
BYD's proactive approach to aggressively expanding into international markets has played a pivotal role in its success. In November alone, BYD sold 30,629 NEVs overseas, following the launch of new models in Japan, Europe, and other key markets.
BYD's leadership extends to overseas markets such as Thailand, Brazil, and Columbia, with ongoing expansion efforts in Australia, India, Hungary, Mexico, and other regions.
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The notable growth in November sales positions BYD as a formidable competitor to Tesla for the title of the world's top-selling EV maker.
Although Tesla, a US firm known for not releasing monthly sales updates, delivered 435,059 EVs in the third quarter, BYD came remarkably close, delivering 431,603 electric models.
With 335,655 EVs sold in the previous two months, BYD is on course to end the year strong.
Tesla plans to deliver 1.8 million EVs this year, whereas BYD has delivered 1.38 million through November.
BYD's Incentives Offer, Global Connectivity Initiative
To intensify the competition further, BYD recently implemented price cuts in a year-end promotion, reflecting the heightened rivalry in the EV market. Wang Chuanfu, BYD's CEO, expressed the company's readiness for a potential price war over the next three to five years, exuding confidence in securing a significant market share.
In a related development, BYD announced subsidies and discounts of up to 20,000 yuan ($2,803) for buyers transitioning from traditional internal combustion engine vehicles to electric cars in December, providing additional incentives for the adoption of EVs, according to a Reuters report.
Additionally, AIthority reported that BYD selected Amazon Web Services (AWS) as its preferred cloud provider for the connected vehicle platform, aiming to enhance global connectivity and support the EV manufacturer's business expansion in the rapidly evolving electric mobility landscape.
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