Despite a broader China EV slowdown, BYD sales reached a record in August.

Despite a broader China EV slowdown, BYD sales reached a record in August.
Despite a broader China EV slowdown, BYD sales reached a record in August.
  • In August, BYD recorded a new high in passenger vehicle sales, with hybrid car sales increasing at a faster rate than battery-only car sales.
  • In August, Li Auto reported 48,122 deliveries, a decrease from the previous month's record of 51,000.
  • In August, Zeekr, which is backed by Geely, experienced a month-on-month decrease in deliveries from 20,206 in June to 18,015.

In August, Chinese electric vehicle giant sold a record number of passenger vehicles, with hybrids growing faster than battery-only cars.

Passenger car sales in August increased by 30% compared to the previous year, reaching a total of 370,854 units.

Last month, BYD's sales of battery-only cars increased by nearly 12%, while hybrid-powered vehicle sales jumped by 48%, accounting for just under two-thirds of all BYD cars sold.

Last month, several new energy vehicle startups experienced a decline in deliveries.

In August, the company known for its range-extender vehicles reported a decrease in deliveries from July's record high.

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Last month, Aito, a company that utilizes Huawei technology, delivered 31,216 cars, a decrease of over 10,000 vehicles from the previous month. Huawei is transferring the Aito trademark and patents to an automaker for 2.5 billion yuan ($352.5 million).

Lower-priced cars hitting the market

In August, the company delivered slightly fewer cars than in July, but still managed to surpass 20,000 cars for the fourth consecutive month, with a total of 20,176 cars delivered.

Onvo, the company's lower-priced brand, opened 105 stores on Sunday in preparation for the delivery of its first car, the L60 SUV, this month. Meanwhile, Nio is set to report earnings on Friday.

In August, the company recorded its highest number of car deliveries for the year, with a total of 14,036 vehicles delivered.

On Friday, Xpeng announced that it started delivering its new mass market electric car, Mona M03, which costs less than $20,000 in China. It is unclear whether the M03 deliveries were included in the total figure Xpeng reported.

Despite reporting a month-on-month increase to 18,015 deliveries in August, the number of deliveries was lower than the previous month's total of 20,206 deliveries in June.

Undercutting Tesla and going global

Zeekr announced that it plans to launch its first SUV this month at a price more than $1,400 lower than Tesla's Model Y. The U.S.-listed Chinese company aims to make the SUV available globally by the end of this year, but did not specify which countries or regions.

Last month, BYD sold 31,451 cars overseas, surpassing the 242,765 cars it sold abroad in all of last year, and bringing the year-to-date total to 264,869 cars.

If BYD maintains its average monthly sales rate until the end of December, the company will sell approximately 400,000 cars outside China this year, according to CNBC's calculations.

In August, the company delivered more than 10,000 cars for the third consecutive month, with CEO Lei Jun stating that the company aimed to deliver 100,000 units of its SU7 electric sedan by the end of November.

According to CNBC's calculations of reported data, Xiaomi must sell at least 16,000 cars per month from August to November.

In April, the SU7 was launched by the smartphone company at a price that was approximately $4,000 lower than Tesla's Model 3.

—CNBC's Sonia Heng contributed to this report.

by Evelyn Cheng

China Economy