BYD has closed out 2024 with an impressive achievement, setting a new annual sales record by selling 4,272,145 vehicles worldwide—a significant 41.3% increase compared to 2023’s total of 3,024,417 units.
This milestone marks the first time the Chinese carmaker has surpassed the four million mark, according to Car News China.
The breakdown of BYD’s 2024 sales reveals a strong performance across its range. Passenger battery-electric vehicles (EVs) accounted for 1,764,992 units, while passenger plug-in hybrids (PHEVs) made up 2,485,378 units, and commercial vehicles added 21,775 units to the total.
This results in a 41.5% EV to 58.5% PHEV split, a shift from the previous year’s 52.1% EV to 47.9% PHEV distribution. The numbers highlight a remarkable surge in PHEV sales, which rose by 72.8% compared to 2023’s 1.4 million units, whereas EV sales experienced a more modest 12% growth from 1.6 million units.
These shifting trends could reflect the impact of Western tariffs on Chinese EVs or a change in consumer preferences within the domestic market. Either way, the data underscores BYD’s adaptability and resilience in navigating global market dynamics.
On the export front, BYD’s international reach expanded significantly in 2024. December alone saw 57,154 units shipped overseas, contributing to a total of 417,204 exports for the year. This represents a staggering 72% increase from 2023’s 242,766 exported units, which itself was an impressive 334% jump over 2022.
Beyond vehicle sales, BYD continues to cement its position as a key player in the energy sector. As China’s second-largest battery supplier, the company supports major clients like Tesla, Nio, and Toyota. In December 2024, BYD installed 23.5 GWh of battery capacity, marking a 32% year-on-year growth.
For the entire year, battery installations, including those used in EVs and stationary energy storage systems, totalled 194.7 GWh, a 29% increase compared to 2023.
Regionally, BYD’s expansion includes establishing a manufacturing facility in Indonesia, set to begin operations in the fourth quarter of 2025.
The new plant is expected to generate approximately 8,700 jobs, reinforcing BYD’s commitment to growth and regional engagement.
As BYD enters its 31st year, it does so as a trailblazer in the automotive and energy industries, underpinned by a global workforce renowned for its extensive R&D expertise.
With a record-breaking year behind it and ambitious plans ahead, the company continues to shape the future of sustainable mobility and energy solutions.
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