Official sales reports from BYD and Tesla, industry analysis reports

BYD Sells 4.27M NEVs in 2024, December Sales Hit 514,809

Jan 1, 2025, 12:14 PM

China's BYD achieved record-breaking sales of 4.27 million new energy vehicles (NEVs) in 2024, marking a 41.3% year-on-year increase. This includes 1.76 million battery electric vehicles (BEVs) and 2.48 million plug-in hybrid vehicles (PHEVs). December sales alone reached 514,809 units, with 207,734 BEVs and 301,706 PHEVs sold, marking the third consecutive month exceeding 500,000 units. In Q4, the company sold 595,413 BEVs. BYD's performance has narrowed its gap with Tesla in the global electric vehicle market. Additionally, BYD's annual sales surpassed those of Honda and Nissan for the first time, solidifying its position as a leading global automaker. The company also reported over $100 billion in annual revenue for the first time, driven by domestic sales and government subsidies. However, its overseas sales, while growing, faced challenges such as increased tariffs in the European Union and market-specific issues in Brazil.