BYD hits record sales in October on the back of rising exports

BYD’s electric cars are seeing to be gaining popularity in Australia with thousands added to our roads in recent months. 

BYD has had a record month of sales with 301,833 new energy vehicles (NEVs) sold during October, a 220% increase on sales when compared to the same time last year. It’s also 9% above September sales levels.

Of the over 300,000 vehicles the company sold in October, 55% of the vehicles were pure battery electric. This accounted for 165,505 vehicles.

Of these, a record 30,251 NEVs (New Energy Vehicles) were shipped  to international markets including Australia, where the Atto 3 remains popular and the new Dolphin and Seal electric vehicles are hitting the market.

Earlier this week, BYD announced that its Q3 2023 profit has reached $US1.42 billion which equates to $A2.2 billion for the three months ending in September. This is up 82% over the same time in 2022. 

The company also posted its revenue which reached a record $US22.2 billion or $A35 billion for the 3 months.

The revenue and profits have led to a healthy automotive margin of 22.1% in the quarter which is also on the rise as production ramps.

The BYD Atto 3 is the third best-selling EV in Australia with over 10,000 of the electric SUVs being added to the fleet nationally.

One of its new models is also Australia’s most affordable EV – the Dolphin electric hatchback which has a starting price of $38,890 before on roads.

Deliveries of the Dolphin began on Friday with hundreds planned in the coming weeks. Previous reports from the local distributor indicate that there was a lot of demand for such a vehicle and we expect to see it in the sales data in the coming months.

The second model the company has launched in recent months has been a performance electric sedan called the Seal. 

A huge amount of interest has also been generated in the brand with the company’s local website going down momentarily after the car’s pricing was announced.

Priced from $49,888, it’s the most value-focused electric sedan in the market. Deliveries of the Seal are expected to start in Q4.

Both these vehicles have also received a five-star ANCAP rating, making them much more attractive to fleet operators across the country which would also help with sales in the coming months.

With Q4 well and truly underway and BYD’s expansion of markets and models picking up pace, it’s looking to be a record-breaking-sales year for the world’s largest NEV maker. 

See also The Driven’s updated EV Models page, listing all the new EVs available for purchase in Australia, plus what’s to come soon and what’s available in the second hand market.