Korean Media: Overseas Sales Surge 80%, BYD Records First Monthly Growth in Nine Months!
On July 6, South Korean media outlet Today's Finance published an article stating that Chinese electric vehicle manufacturer BYD has achieved its first monthly sales growth in nine months. This positive trend was driven by a sharp increase in overseas sales, particularly in Europe and emerging markets.
BYD's global sales reached 383,453 units in May this year, marking a 0.3% year-on-year increase. This marks the first growth since eight consecutive months of decline starting from September last year.
The key driver behind this rebound lies in international markets. In May, BYD's overseas sales hit a record high of 160,644 units, surging 80.4% year-on-year. Overseas sales now account for over 40% of total sales volume. This growth is primarily attributed to steadily increasing demand for electric vehicles in Europe and emerging markets.
Meanwhile, sales within China remain sluggish. Total EV sales in the Chinese market amounted to 222,809 units in May, a year-on-year drop of 24%, continuing the 13th consecutive month of negative growth.
By model type, total passenger vehicle sales reached 376,990 units. Among them, pure electric vehicle sales were 198,674 units, while plug-in hybrid electric vehicle sales stood at 178,316 units. Although pure electric vehicle sales saw a slight decline compared to last year, plug-in hybrid sales maintained an upward trend.
Nevertheless, BYD’s cumulative performance for the year still requires recovery. From January to May, BYD’s cumulative sales totaled approximately 1.405 million units, representing a drop of more than 20% compared to the same period last year.
BYD’s strategy focuses on sustained growth through expanding its overseas markets. The company has set an overseas sales target of 1.3 million units for this year—about a 25% increase from last year. Additionally, it plans to boost sales recovery in the second half of the year through the launch of new models and ultra-fast charging battery technology.
Industry experts believe that although this sales increase is a significant signal of market recovery, with only a 0.3% growth rate, whether BYD can enter a phase of full-scale expansion will depend on the revival of domestic demand in China and the pace of its overseas market expansion.
Original source: toutiao.com/article/1869931767804996/
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