Warren Buffett-backed BYD reported booming September and Q3 sales

Oct. 03, 2022 7:25 AM ETBYD Company Limited (BYDDF), BYDDYLI, NIO, XPEVBy: Meghavi Singh, SA News Editor14 Comments

BYD EV car store and customers. Chinese electric car company

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  • Chinese EV maker BYD Company (OTCPK:BYDDF) sold a record 201,259 new energy vehicles in September up ~184% Y/Y, after selling 174,915 in August and 162,530 in July.
  • Sales of pure electric vehicles up 161.5% Y/Y to 94,941 units and plug-in hybrid vehicles up 214.49% Y/Y to 106,032 units.
  • For Q3, BYD sold 538,704 NEVs, up 194% vs. a year earlier and surging from 355,021 in Q2.
  • New energy vehicles include all-electric vehicles, plug-in hybrids and hydrogen fuel-cell vehicles.
  • From January to September, BYD's cumulative NEV sales were 1,180,054 units, up 249.56 percent from 337,579 units in the same period last year.
  • In another release, the company announced that currently it has a backlog of 700,000 orders, and the current waiting time for consumers who place orders now is 4-5 months.
  • In April, BYD shifted to producing only hybrid and electric vehicles, ditching cars that run only on gas or diesel. In addition, BYD plans to supply Tesla with EV batteries.
  • Comparing with peers, Nio (NIO) delivered 31,607 vehicles up 29.3% Y/Y outsold XPeng (XPEV) Q3 total deliveries reached 29,570, representing a 15% Y/Y and Li Auto (LI) delivered 26,524 vehicles, representing a 5.6% year-over-year increase in the third quarter, with the Chinese startups reporting EV sales on Saturday.

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