China’s BYD is making a stronger push into fully electric vehicles, with its October figures showing a clear change in what customers are buying. The manufacturer delivered more than 300,000 EVs during the month, marking a new achievement for its growing automotive business.
Across its electric and hybrid offerings, BYD recorded 490,168 vehicle deliveries in October. The result was nearly 11% higher than its performance a year earlier and about 5.7% above September. Although the pace of yearly expansion has eased, the company continues to attract additional customers.
One of the most striking developments is the growing popularity of cars that operate entirely on battery power. BYD moved 305,743 electric passenger vehicles in October, an increase of 37.38% from the previous year’s figure for the same month. Its electric passenger car business has now reached another monthly high.
The changing customer preference is also visible in the company’s sales composition. Electric models represented almost two-thirds of BYD’s passenger vehicle deliveries in October. A year earlier, their contribution was close to half. This growing proportion indicates that battery-powered cars are taking a more prominent position in the manufacturer’s business.
Meanwhile, plug-in hybrids are experiencing weaker demand. These vehicles, which combine rechargeable batteries with gas engines, generated 177,382 passenger car deliveries in October. Their sales were 17.23% below the level recorded twelve months earlier. The decline has also extended into the wider year, with hybrid deliveries falling 11.02% during the first ten months.
BYD is finding additional customers beyond its home market. October shipments to overseas destinations reached 170,194 vehicles, representing growth of more than 102% annually. By the end of October, the company had exported approximately 1.51 million new energy vehicles during the year. Its expanding presence abroad is helping reduce its reliance on domestic demand.
Product development remains another part of its strategy. The refreshed Seagull brings changes to BYD’s small electric car offering, while the latest Qin Plus DM-i introduces improvements to its hybrid lineup. A new Seal 07 is also expected to strengthen the company’s model range.
However, the manufacturer cannot depend on rising deliveries alone. Competition among Chinese carmakers remains intense, and slower annual growth presents another challenge. Maintaining customer interest while expanding into international markets will be essential.
BYD’s October performance therefore reflects more than a sales record. It highlights an increasingly electric business, supported by growing overseas demand and continued investment in new vehicles. American EV makers like Lucid Motors (NASDAQ: LCID) may have to do more to prevent foreign brands like BYD from eventually taking over their target markets in major economies.
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