BYD sells over 3 million NEVs in 2023, electric car sales close gap to Tesla | Autocar Professional

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Chinese automaker BYD has concluded 2023 with record-breaking sales, which surpasses the 3 million annual sales target and retains its position the global new energy vehicle (NEV) sales champion, for the second year in a row. This year also marks BYD being listed among the global top 10 of car sales for the first time. In the Chinese market, BYD retained its position as the best-selling car brand and manufacturer.

December saw sales of 341,043 units, a 45% increase, culminating in a total of 3,024,417 vehicles sold throughout the year, a substantial 61.9% surge from the previous year.

In 2023, BYD expanded its international market presence, with exports growing by 334.2% on a low year-ago base to 242,765 units and its reach across over 70 countries on six continents.

In 2023, BYD completed its brand matrix, including the Dynasty series, Ocean series, Denza, Fangchenbao, and Yangwan. BYD at present has one of the most extensive portfolios in the global new energy sector.

The Dynasty and Ocean series achieved impressive sales of 2,877,353 units, marking a 55.3% increase over CY2022. The Denza brand sold 127,840 units in 2023, with the Denza D9 emerging as the MPV sales best-seller.

Yangwan and Fangchenbao, both launched in 2023 and initiated deliveries in November, received strong market responses. While the Yangwan U8 emerged as a top seller in the million-level NEV segment, while the Bao 5 established a strong foothold in the off-road segment.

BYD’s electric car sales close gap to Tesla

Meanwhile, BYD outsold its American rival on EVs during the final quarter of 2023, narrowing its gap to EV market-leader Tesla, selling almost 1.6 million electric cars globally. The Chinese giant’s total EV sales volume of 1,574,822 units was a 13% shortfall on its American rival’s tally of 1,808,581 units. It was also a 73% improvement on BYD’s 2022 result of 911,140 EVs.

Although BYD failed to meet Tesla’s full-year result, it did emerge victorious in the final quarter of 2023, with 526,409 sales to 484,507 units.

With inputs from Charlie Martin, Autocar UK

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