On the rise! BYD sold 4.27 million EVs and PHEVs in 2024, overtaking Ford and Honda – but Tesla still has the edge for EV sales
BYD has announced it sold an incredible 4.27 million cars globally in 2024, representing a massive 41.3 per cent increase in sales over the three million vehicles it delivered in 2023.
Breaking down those numbers, BYD reported 1,764,992 were battery-powered, representing a 12 per cent boost over 2023 volumes.
But the real growth behind its imposing performance was what happened to the sales of its plug-in hybrids.
READ MORE: Revealed! The new look for the 2025 BYD Dolphin EV that is intended to take the fight to the MG4 and GWM Ora
READ MORE: Looking Up! BYD Atto 3 Up patent in Australia signals the 2025 arrival of baby electric SUV to fight the MG ZS EV
READ MORE: Nobody is safe from BYD’s model tsunami: Chinese brand reveals yet more Australian expansion plans to target Ford, LDV and Mercedes-Benz
According to BYD, 2,485,378 of its PHEVs were sold, an enormous 72.8 per cent higher than 2023 plug-in sales.
Despite its runaway success, one record still eludes BYD as Tesla remains the world’s biggest EV-maker – but only just.
In 2024 data published suggests the US firm managed to ship 1,789,226 EVs – one per cent less than the year before – but still more than BYD managed.
Senior BYD execs aren’t expected to be too worried as the 2024 sales should exceed annual global volumes of both Ford and Honda – not bad for a brand about to celebrate 22nd year of car-making.
It’s all the more impressive when you remember BYD also produced its last pure-combustion-powered vehicle back in 2022.
In December alone, the Chinese brand said it sold 509,440 PHEVs and EVs in December.
More alarming for rivals is only 500,000 of all the cars it sold last year were destined for its export markets, so the further expansion of BYD globally will generate yet more volume.
Australian BYD sales totalled 20,458 in 2024, well short of its 25,000 target but still up 64.5 per cent on 2023.
The Seal EV sedan was its biggest seller (6393 sales) ahead of the Sealion 6 PHEV (6198), the Atto3 compact EV SUV (5751) and Dolphin EV small car (2116).
As well as selling vehicles, BYD is now the second-largest battery supplier in China with the firm selling power packs to the likes of Toyota, Nio and Tesla.
