China’s electric vehicle maker BYD has again done wonders in terms of EV sales. The company has sold more than 3,20,000 units so far in 2024. However, BYD had higher sales during the same period last year. There was a decline in the company’s sales in February this year compared to the previous February, but if we look at the performance of the entire year, the electric vehicle maker has maintained the pace.
BYD Announcing in the Hong Kong Stock Exchange, it said that in February 2024 it sold 1,22,311 New Energy Vehicles (NEV). Whereas in February 2023, this figure was more than 1,93,655 units. CNMO’s Report According to , Lunar New Year holiday is also being considered as one of the reasons for low sales this year. During this period, a change is seen in the spending attitude of consumers in China. But despite low sales in February, the company has sold 3,23,804 units so far this year. This shows that BYD dominates China’s new energy vehicle market.
The company’s Song Plus SUV proved to be the best selling model for the month of February. Its 20,173 units were sold. Yangwang U8 is also becoming popular among off-road vehicles, of which the company has sold 780 units. Apart from this, Dynasty and Ocean Networks have also maintained the pace of sales in the last month. The Qin, Han, Tang, and Yuan models also joined the sale. Ocean Network’s Seagull and Dolphin models also contributed to increasing the company’s sales figures.
Along with the domestic market, BYD is also establishing its strong presence in the international market. The company exported 23,291 units in the month of February alone. It is estimated in the report that the growth of the company will continue like this. Because along with launching new models, it is busy further enhancing its identity in the domestic and international markets. The company recently announced during an event that it is going to invest $14 billion in smart cars in the coming time. The company plans to launch more than 10 high-end smart driving models which will also have LiDAR sensors.