BYD Is Still Too Strong At China's NEV Market In November 2024

JAKARTA - BYD again set a new record in the sale of new energy vehicles (NEV) on the Chinese market in November 2024.

Based on data released as of December 1, 2024, and from data summarized by Chinese automotive figure Lei Xin and published to social media accounts X, BYD managed to sell 504,003 units of NEV during the month. This figure not only places BYD at the peak but also reflects the increasingly strong dominance in the segment of electric and hybrid vehicles in China.

Holy electric#ChinaNEVSales pic.twitter.com/cqvMzSMVqG

— Lei 𝕏ing邢磊 (@leixing77) December 1, 2024

Holy Electric #ChinaNEVSales pic.twitter.com/cqvMzSMVqG

This achievement further confirmed BYD as a market leader, far beyond its closest competitor, Geely Auto, which recorded sales of 122,453 units. This significant advantage of BYD cannot be separated from its vast product portfolio, including brands such as Denza, Fang Cheng Bao, and Yang Wang, which have succeeded in attracting consumer interest from various segments.

In the NEV category which includes plug-in hybrid (PHEV) vehicles and full electric batteries (BEVs), BYDs continue to show outstanding performance. This success is supported by technological innovation, production line expansion, as well as aggressive marketing strategies, including penetration into the export market. Contributions from its flagship models such as BYD Seal and Dolphin are the main driving force for increased sales.

Meanwhile, other competitors such as SGMW (108,433 units) and Changan (1200,000 units) also showed positive performance, although the difference with BYD was very significant. BYD's success reflects changes in consumer preferences in China, which are increasingly turning to environmentally friendly vehicles amid increased awareness of the sustainability and support of government policies.

This sales record is not only a monumental achievement for BYD, but is also a strong indicator of the rapid growth of the NEV industry in China. With this achievement, BYD is expected to continue to expand its influence on the global market, bringing competition in the automotive industry to a higher level.