In Q1 2023, 1,041,000 EVs and 460,000 PHEVs were sold in China, sales up 25% to Q1 2022, accounting for 28% of China's vehicle sales.
The post China sold 1.5 million EVs&PHEVs in Q1 2023, accounting for 59% of the world appeared first on CarNewsChina.com.
BYD also exported 14,827 NEVs, and BYD Dolphin sold over 30,000 units. BYD Seal's 6,212 units sold could have been better, as it had the ambition to compete with Model 3. BYD Seagull sold 1500 units.
The post BYD sold 104,346 all-electric vehicles globally in April, including 1,500 Seagulls and 6,212 Seal EVs appeared first on CarNewsChina.com.
The BYD Chaser 07 (Destroyer 07) interior was exposed in China with a large screen.
The post BYD Chaser 07 interior exposed in China with a large screen appeared first on CarNewsChina.com.
BYD sold 104,364 passenger BEVs in April, up 1.65 percent from March, and 105,103 PHEVs, up 1.63 percent from March.
BYD sold 210,295 new energy vehicles (NEVs) in April, up 98.31 percent from 106,042 units in the same month last year and up 1.55 percent from 207,080 units in March, according to data released today.
The company discontinued production and sales of vehicles powered entirely by internal combustion engines in March last year and switched to focus on producing plug-in hybrids and pure electric vehicles.
BYD's NEVs include passenger cars as well as commercial vehicles, with sales of 209,467 new energy passenger cars in April, up 98.59 percent from 105,475 units in the same month last year and up 1.64 percent from 206,089 units in March.
BYD's new energy commercial vehicles sold 828 units in April, up 46.03 percent from 567 units in the same month last year, but down 16.45 percent from 991 units in March.
Among these passenger NEVs, battery electric vehicles (BEVs) sold 104,364 units, up 81.81 percent from 57,403 units a year ago and up 1.65 percent from 102,670 units in March.
Its passenger plug-in hybrid vehicles (PHEVs) were 105,103 units, up 118.64 percent from 48,072 units in the same month last year and up 1.63 percent from 103,419 units in March.
In April, BYD sold 14,827 NEVs in overseas markets, up 11.38 percent from 13,312 units in March.
The company first announced overseas sales figures for NEVs in July 2022.
In addition to being China's largest NEV company, BYD is also the country's second-largest manufacturer of power batteries.
BYD's installed power and energy storage battery capacity in April was about 9.954 GWh, up 59.47 percent from 6.242 GWh in the same month last year and up 0.64 percent from 8.952 GWh in March.
BYD officially launches Seagull to expand its presence in China's EV market
The post BYD posts Apr NEV sales of 210,295 units, up 1.55% from Mar appeared first on CnEVPost.
For more articles, please visit CnEVPost.
Revenue 120 billion yuan (up 80% YoY), net profit 4.13 billion yuan (up 411% YoY).
The post BYD’s net profit up five times YoY to 596 million USD in Q1 2023 appeared first on CarNewsChina.com.
BYD reported revenue of RMB 120.17 billion in the first quarter, up 79.83 percent year-on-year, although it was 23.15 percent lower than in the fourth quarter of last year.
BYD (OTCMKTS: BYDDY) continued to see strong financial performance in the first quarter, as the company ratchets up its leadership position in China's new energy vehicle (NEV) market.
BYD reported revenue of RMB 120.17 billion ($17.34 billion) in the first quarter, up 79.83 percent year-on-year, despite a 23.15 percent decrease from the fourth quarter of last year, according to its financial report released today.
The significant year-on-year increase in revenue was mainly due to increased sales of NEVs, BYD said in the report.
BYD's net profit for the quarter was RMB 4.13 billion, up 410.89 percent year-on-year, although it was 43.5 percent lower than in the fourth quarter of last year.
After excluding non-recurring gains and losses, BYD's net profit in the first quarter was RMB 3.57 billion, up 593.68 percent year-on-year.
It reported basic earnings per share of RMB 1.42 in the first quarter, up 407.14 percent year-on-year.
BYD's costs grew in line with sales growth, with operating costs for the quarter at RMB 98.71 billion, up 68.62 percent year-on-year.
Its selling expenses for the quarter were RMB 4.65 billion, up 234.96 percent year-on-year, and R&D expenses were RMB 6.24 billion, up 164.24 percent year-on-year.
BYD's gross margin was 17.86 percent in the first quarter, up 5.46 percentage points from the same period last year, although it was 1.14 percentage points lower than the fourth quarter.
BYD sold 552,076 NEVs in the first quarter, up 92.81 percent year-on-year, but down 19.22 percent from a record 683,440 units in the fourth quarter of last year.
The company's NEVs include passenger cars as well as commercial vehicles, and they sold 547,917 units and 4,159 units in the first quarter, respectively.
BYD stopped production and sales of vehicles powered entirely by internal combustion engines in March 2022 to focus instead on NEVs, including plug-in hybrids and battery electric vehicles.
The first quarter was typically a slow quarter for sales in the Chinese auto industry, taking into account the Chinese New Year holiday.
In the first quarter of this year, the withdrawal of some previously available support policies, as well as a rare price war in the auto industry, brought additional pressure.
Chinese passenger car sales in the first quarter were 4.27 million units, down 13.15 percent year-on-year and down 24.55 percent from the fourth quarter of last year, according to the China Passenger Car Association (CPCA).
NEVs sold 1.32 million units in the first quarter, up 23.07 percent year-on-year but down 26.62 percent from the fourth quarter.
On February 25, local media reported that BYD's Dynasty series' models had been reduced in prices, with some models reduced by RMB 20,000.
BYD subsequently responded that this was not an official act, but promotional activities by some dealers.
On March 9, as the price war intensified in the Chinese auto industry, BYD began offering discounts of up to RMB 8,800 for the Song Plus and Seal.
($1 = RMB 6.9295)
BYD officially launches Seagull to expand its presence in China's EV market
The post BYD posts over 400% year-on-year Q1 profit growth appeared first on CnEVPost.
For more articles, please visit CnEVPost.
BYD reported revenue of RMB 120.17 billion in the first quarter, up 79.83 percent year-on-year, although it was 23.15 percent lower than in the fourth quarter of last year.
BYD (OTCMKTS: BYDDY) continued to see strong financial performance in the first quarter, as the company ratchets up its leadership position in China's new energy vehicle (NEV) market.
BYD reported revenue of RMB 120.17 billion ($17.34 billion) in the first quarter, up 79.83 percent year-on-year, despite a 23.15 percent decrease from the fourth quarter of last year, according to its financial report released today.
The significant year-on-year increase in revenue was mainly due to increased sales of NEVs, BYD said in the report.
BYD's net profit for the quarter was RMB 4.13 billion, up 410.89 percent year-on-year, although it was 43.5 percent lower than in the fourth quarter of last year.
After excluding non-recurring gains and losses, BYD's net profit in the first quarter was RMB 3.57 billion, up 593.68 percent year-on-year.
It reported basic earnings per share of RMB 1.42 in the first quarter, up 407.14 percent year-on-year.
BYD's costs grew in line with sales growth, with operating costs for the quarter at RMB 98.71 billion, up 68.62 percent year-on-year.
Its selling expenses for the quarter were RMB 4.65 billion, up 234.96 percent year-on-year, and R&D expenses were RMB 6.24 billion, up 164.24 percent year-on-year.
BYD's gross margin was 17.86 percent in the first quarter, up 5.46 percentage points from the same period last year, although it was 1.14 percentage points lower than the fourth quarter.
BYD sold 552,076 NEVs in the first quarter, up 92.81 percent year-on-year, but down 19.22 percent from a record 683,440 units in the fourth quarter of last year.
The company's NEVs include passenger cars as well as commercial vehicles, and they sold 547,917 units and 4,159 units in the first quarter, respectively.
BYD stopped production and sales of vehicles powered entirely by internal combustion engines in March 2022 to focus instead on NEVs, including plug-in hybrids and battery electric vehicles.
The first quarter was typically a slow quarter for sales in the Chinese auto industry, taking into account the Chinese New Year holiday.
In the first quarter of this year, the withdrawal of some previously available support policies, as well as a rare price war in the auto industry, brought additional pressure.
Chinese passenger car sales in the first quarter were 4.27 million units, down 13.15 percent year-on-year and down 24.55 percent from the fourth quarter of last year, according to the China Passenger Car Association (CPCA).
NEVs sold 1.32 million units in the first quarter, up 23.07 percent year-on-year but down 26.62 percent from the fourth quarter.
On February 25, local media reported that BYD's Dynasty series' models had been reduced in prices, with some models reduced by RMB 20,000.
BYD subsequently responded that this was not an official act, but promotional activities by some dealers.
On March 9, as the price war intensified in the Chinese auto industry, BYD began offering discounts of up to RMB 8,800 for the Song Plus and Seal.
($1 = RMB 6.9295)
BYD officially launches Seagull to expand its presence in China's EV market
The post BYD posts over 400% year-on-year Q1 profit growth appeared first on CnEVPost.
For more articles, please visit CnEVPost.
Filed under: Earnings/Financials,Green,Electric
Continue reading Chinese EV giant BYD's first-quarter profit jumps fivefold
Chinese EV giant BYD's first-quarter profit jumps fivefold originally appeared on Autoblog on Thu, 27 Apr 2023 09:32:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | CommentsFiled under: Earnings/Financials,Green,Electric
Continue reading Chinese EV giant BYD's first-quarter profit jumps fivefold
Chinese EV giant BYD's first-quarter profit jumps fivefold originally appeared on Autoblog on Thu, 27 Apr 2023 09:32:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | CommentsbZ3 is Toyota outside and BYD inside. Price at dealer start even lower at 22,300 USD.
The post Toyota’s second pure EV started deliveries in China. bZ3 offers a 65 kWh battery and 241 HP, starting at 24,500 USD appeared first on CarNewsChina.com.