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BYD Sold 3.02 Million Vehicles in 2023—but Not All Were Battery-Electric

BYD reported 3,024,417 vehicle sales in 2023, but the total included about 1.6 million battery-electric vehicles and 1.4 million plug-in hybrids.
From TheFinanceBase Team2 min to read
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BYD reported 3,024,417 vehicle sales in 2023, up 61.9% from 2022. That total was not all battery-electric cars: Reuters reported it comprised about 1.6 million battery-electric vehicles and 1.4 million plug-in hybrids. The distinction matters when comparing BYD with automakers or market figures that count battery-only vehicles.

What BYD’s 2023 sales figure includes

In a January 2, 2024 announcement, BYD said it sold 3,024,417 vehicles during calendar year 2023, a 61.9% year-over-year increase. It also reported 341,043 sales in December, up 45% from December 2022. These are BYD’s company-reported figures; the sources cited here do not independently audit or reconcile the total. BYD’s 2023 announcement

Reuters described the annual mix as approximately 1.6 million battery-electric vehicles (BEVs) and 1.4 million plug-in hybrid electric vehicles (PHEVs). A BEV runs on electricity stored in a battery and has no combustion engine; a PHEV combines a rechargeable battery with an engine. BYD’s 3.02 million figure is therefore best described as its reported vehicle or new-energy-vehicle sales total—not as 3.02 million battery-only EVs. Reuters’ report on BYD’s 2023 sales

How BYD’s result compares with the EV market

The International Energy Agency (IEA) says BYD became the world’s best-selling battery-electric car company in the second half of 2023. That is a period-specific BEV comparison, not a claim that BYD led every category for the entire year. Separately, when BEVs and PHEVs are counted together, the IEA puts BYD’s share of the global electric-car market at just over 20%. These two statements use different scopes and should not be conflated. IEA, “Trends in the electric vehicle industry”

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The wider market was growing quickly. The IEA estimated nearly 14 million new electric-car registrations worldwide in 2023, about 18% of all car sales. Its passenger-car figures include both BEVs and PHEVs. China, Europe and the United States together accounted for nearly 95% of global electric-car sales, so the worldwide total was concentrated in those markets. IEA, “Trends in electric cars”

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What BYD reported about brands and exports

BYD’s announcement said its Dynasty and Ocean series sold 2,877,353 units in 2023, up 55.3%, while DENZA sold 127,840. It also identified YANGWANG and FANGCHENGBAO as brands launched in 2023, with deliveries beginning in November. The announcement does not provide a complete comparable model-by-model sales breakdown, so these figures do not establish how individual models performed.

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BYD reported exports of 242,765 units in 2023, a 334.2% increase, and said it had reached more than 70 countries across six continents. Those are export figures as BYD presented them; they should not be treated as equivalent to all overseas sales or registrations, which can be measured differently. BYD’s 2023 announcement

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How to read the headline number

  • For BYD’s overall reported 2023 result: use 3,024,417 vehicles, up 61.9% year over year.
  • For battery-only sales: Reuters reported approximately 1.6 million BEVs, rather than the full 3.02 million total.
  • For electric cars including plug-in hybrids: the IEA’s market-share comparison includes both BEVs and PHEVs, and its leadership statement for BYD refers specifically to the second half of 2023.
  • For current market rankings: these are historical 2023 results and do not establish a 2026 ranking.

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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