BYD sells a record 4.27 million cars in 2024 – 40% more PHEVs sold than EVs, are the tables turning?

BYD sells a record 4.27 million cars in 2024 – 40% more PHEVs sold than EVs, are the tables turning?

By selling 514,809 units across the planet last month, BYD has wrapped up 2024 with worldwide sales of 4,272,145 units (+41.3% over 2023’s 3,024,417 units). It’s a new annual sales record for the Chinese carmaker and the first time it’s broken four million, Car News China reports.

Here’s the breakdown: 1,764,992 passenger battery-electric vehicles (EV), 2,485,378 passenger plug-in hybrids (PHEV) and 21,775 commercial vehicles. That’s 41.5% EV/58.5% PHEV in 2024 (720k more PHEVs than EVs), compared with 52.1% EV/47.9% PHEV in 2023 (125k more EVs than PHEVs).

You can see the tables have turned quite spectacularly – a consequence of Western tariffs on Chinese EVs, or changing consumer preferences at home? Against 2023, BYD’s EV sales increased 12% from 1.6 million units, while its PHEVs went up an incredible 72.8% from 1.4 million units.

What about exports? December saw 57,154 BYDs find homes outside China, propelling its 2024 total to 417,204 units. That’s nearly 72% more than the 242,766 units it exported in 2023; itself an insane 334% jump over 2022.

Cars aside, BYD is the Middle Kingdom’s number two battery supplier, with Tesla, Nio, and Toyota among its customers. The carmaker with the most R&D staff in the world installed 23.5 GWh of battery capacity in December (+32% year-on-year). In 2024, cumulative battery installations, including in EVs and stationary energy storage, hit 194.7 GWh (+29% YoY).

Closer to home, the Chinese giant is setting up a plant in Indonesia that is expected to begin operations in 2025’s fourth quarter, creating around 8,700 jobs. The company will be 31 years old this year.

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Jonathan James Tan

While most dream of the future, Jonathan Tan dreams of the past, although he's never been there. Fantasises much too often about cruising down Treacher Road (Jalan Sultan Ismail) in a Triumph Stag that actually works, and hopes this stint here will snap him back to present reality.

 

Comments

  • President Xi on Jan 02, 2025 at 5:42 pm

    China number one, Malaysia number last

    Thumb up 2 Thumb down 7
    • Dah Menang Semua on Jan 03, 2025 at 6:40 am

      BYD exported mostly BEV
      which mean alot Chinese
      Bought BYD hybrid >>>BEV
      We here indeed dumping ground

      Thumb up 11 Thumb down 8
      • No such thing! Btw, all countries bringing BYD models with latest features and new model but not old model

        Thumb up 6 Thumb down 2
        • Richard Teo on Jan 03, 2025 at 11:48 pm

          From paragraph-2 above

          “Here’s the breakdown: 1,764,992 passenger battery-electric vehicles (EV), 2,485,378 passenger plug-in hybrids (PHEV) and 21,775 commercial vehicles. That’s 41.5% EV/58.5% PHEV in 2024 (720k more PHEVs than EVs)”

          Question: if Chinese people prefer PHEV over EV, why don’t we get any PHEV model here?

          Thumb up 0 Thumb down 0
          • lithium on Jan 06, 2025 at 3:36 pm

            look at the pricing structure. ev get exemption from our govt making it aggressively priced vs phev/hybrid which dont enjoy the exemption. with the exemptions byd ev are specs to the max which offering very competitive prices compared to similar ice motor vehicle.

            if you are byd marketing head – which route you choose?

            Thumb up 0 Thumb down 0
  • bersyukur? on Jan 02, 2025 at 5:43 pm

    walao.. can dont direct translate / AI generate or not.. Middle kingdom??? CHINA?? LOL… lousy

    Thumb up 2 Thumb down 14
  • 4GR-FSE on Jan 02, 2025 at 5:46 pm

    no surprise..
    Hybrid will be main stream than BEV..

    Thumb up 3 Thumb down 3
  • ThePolygon on Jan 02, 2025 at 9:15 pm

    PHEV way to go… daily stuck in jam use battery, balik kampung pump petrol.

    Thumb up 3 Thumb down 1
  • Nice

    Thumb up 3 Thumb down 0
  • fadzilli haji Ahmad on Jan 03, 2025 at 9:37 am

    almost 80% of this sold in China to dealers and then sent to yards to rot. they are absent from major world markets due to lack of standards. only SE Asia used a dumping ground.

    Thumb up 2 Thumb down 13
  • youngman on Jan 03, 2025 at 10:18 am

    Terbaik

    Thumb up 4 Thumb down 0
 

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