BYD or Build Your Dreams has certainly been doing that. It pulled out of selling oil fueled cars at the beginning of 2022 which gave impetus to its electric and hybrid sales. The level of increase since is hard to comprehend but this is what happened.
In 2021 BEV and PHEV sales were 594,000 and oil fueled 136,000. For 2022 the former were up to 1.8 million, an astonishing 213% increase. 2023 and the total was 3 million, up 62%. The pace of increase understandably slowed in 2024 yet growth was still strong with a 41% increase to 4.25 million units.
Below is shown BEV sales to the left and then combined with HEV to the right. I did it that way so that BEV sales could be compared with the likes of Tesla, a full BEV manufacturer.
One difference in recent years is that while Tesla's volume increases modestly through the calendar year, BYD's increases are striking. To show this, BYD delivered 70,000 fewer cars in Q1 but 100,000 more electric cars in Q4 than Tesla. So with that late spurt they must have passed Tesla then?
It seemed inevitable but Tesla delivered nearly 1.789 million BEVs to BYD's 1,764 million so Tesla was marginally the winner. Despite the usual late run of BYD deliveries, it still wasn't quite enough to take over as the largest BEV manufacturer. Does that matter? Bragging rights I suppose.
One point of interest regarding BYD is that BEV sales have been passed by HEV sales in 2024 and by some margin. BEV volume is up just 12% but combined with HEVs, volume is then up 41%. That is a global trend so not surprising but shows the benefit of not having all the eggs in the electric car basket.
Data source: BYD.
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