CleanTechnica•19 days ago
What’s Going On With BYD January Sales?
Key Takeaway
While BYD's January sales dip suggests short-term volatility in the NEV market, the overall growth trajectory of electric vehicles continues to signal substantial future load growth for power developers and large consumers.
AI Summary
- •BYD's January NEV sales dropped 30.7% to 210,051 units, though it remains the top NEV seller globally.
- •Geely's NEV sales were 124,252, but its significant ICE vehicle sales growth resulted in higher total vehicle sales (270,167) than BYD for the month.
- •This data point suggests a potential moderation in the immediate growth rate of electric vehicle adoption, which could influence load growth forecasts for utilities and large power consumers.
- •Increased competition in the broader automotive market (EV vs. ICE, and among EV manufacturers) may lead to pricing pressures, potentially accelerating EV adoption long-term.
Topics
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Article Content
As Zach recently posted, BYD’s sales were down 30.7% in January. BYD sold 210,051 NEVs, which still put it in first place, well ahead of Geely with 124,252. Geely, however, also sells ICE vehicles, which saw significant sales growth to bring their total to 270,167. Due to selling primarily ICE ... [continued] The post What’s Going On With BYD January Sales? appeared first on CleanTechnica .