BYDDF - Berkshire backed BYD Group records strong sales growth in June
2023-07-03 07:07:32 ET
BYD Group ( OTCPK:BYDDF ), backed by Warren Buffett's Berkshire Hathaway ( BRK.A ), delivered strong performance in June with the sale of 253,046 new energy vehicles, a 5.3% rise M/M.
The company's sales nearly doubled compared to the previous year, rising from 134,036 units.
Among the vehicles sold, 128,196 were pure electric cars, reflecting a 7.2% M/M growth, while 123,489 were plug-in hybrid cars, representing a 3.4% M/M increase.
In addition, the company had significant increase in overseas sales of new energy passenger vehicles, reaching 10,536 units in June 2023.
These accomplishments contribute to the company's great performance in the first half of the year, with total sales of 1,255,637 units, representing a phenomenal 95% Y/y increase.
BYD's outstanding sales figures follow the notable sales growth reported by other Chinese electric vehicle (EV) companies. Li Auto ( LI ) claimed a 150% year-on-year sales increase, XPeng ( XPEV ) reported a 15% month-on-month growth, and Nio ( NIO ) announced a 74% sequential increase in June deliveries. Together, these statistics demonstrate the overall thriving market for EVs in China.
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Berkshire backed BYD Group records strong sales growth in June