BYD October sales rise 11% to year-to-date high as BEVs top 300,000 for the first time

• BYD sold 490,168 NEVs in October, marking its sixth consecutive month of year-on-year growth.
• Battery electric passenger vehicle sales reached 305,743 units, up 37.38% year-on-year and setting a record for the third consecutive month.

BYD (HKEX: 1211) posted its highest monthly sales of the year in October, as battery electric passenger vehicle sales topped 300,000 for the first time, offsetting a year-on-year decline in plug-in hybrids.

The Chinese new energy vehicle (NEV) giant sold 490,168 NEVs in October, up 10.97% year-on-year and 5.74% from September, according to data released on Sunday.

This marked BYD's sixth consecutive month of year-on-year sales growth and its eighth consecutive monthly increase. However, year-on-year growth slowed from 16.98% in September, easing for the third consecutive month.

October sales were the highest since December 2024 and the fourth-highest on record, trailing only the 3 months in the fourth quarter of 2024, according to data compiled by CnEVPost.

In the first 10 months of this year, BYD sold 3,621,744 NEVs, down 2.16% year-on-year, narrowing the decline from 3.94% in the first 9 months.

Battery electric vehicles (BEVs) were the main driver of October's sales growth. BYD sold 305,743 battery electric passenger vehicles during the month, up 37.38% year-on-year and 11.94% from September, setting a record for the third consecutive month.

BEVs accounted for 63.28% of its passenger vehicle sales in October, up from 59.81% in September and 50.95% a year earlier, highlighting a further shift in its sales mix toward fully electric models.

By contrast, plug-in hybrid passenger vehicle sales totaled 177,382 units in October, down 17.23% year-on-year and 3.37% from September. This marked the segment's second consecutive year-on-year decline, deepening from September's 2.36% drop.

In the first 10 months of this year, BYD's battery electric passenger vehicle sales totaled 1,935,700 units, up 5.86% year-on-year, while plug-in hybrid passenger vehicle sales fell 11.02% to 1,625,969 units.

Overall, BYD sold 483,125 passenger NEVs in October, up 10.59% year-on-year and 5.78% from September.

The remaining 7,043 units were commercial NEVs, up 45.22% year-on-year. Commercial vehicle sales totaled 60,075 units in the first 10 months, up 30.22%.

BYD exported 170,194 NEVs in October, up 102.84% year-on-year, although down 5.81% from September.

From January through October, BYD's NEV exports totaled 1,513,154 units, up 93.75% year-on-year.

The company sold 319,974 vehicles in the Chinese domestic market in October, a 10.57% year-on-year decline, but a 13.12% month-on-month increase.

From January through October, BYD's domestic sales totaled 2,108,590 vehicles, a 27.81% year-on-year decline.

BYD has been stepping up updates to its core product lineup. On October 20, the company launched the second-generation Seagull, increasing its size and introducing flash charging to select variants.

The third-generation Qin Plus DM-i, launched on October 27, updates its core plug-in hybrid family sedan with a larger body, longer electric range and optional LiDAR.

Next, the second-generation Seal 07 is set to launch on November 5 with battery electric and plug-in hybrid powertrains, continuing the renewal of its Ocean lineup.