BYD Co. notched a seventh consecutive monthly sales record for electric and hybrid vehicles in September, selling just over 200,000 units for the first time, and comfortably beating Tesla Inc. for deliveries in the third quarter.
Sales surged 187 percent to 200,973 year-on-year, Hong Kong-listed BYD said in an exchange filing Monday. For the third quarter, BYD -- whose new energy vehicle sales are near-evenly split between pure-electric vehicles and hybrids -- produced 534,164 units.
The US manufacturer helmed by Elon Musk, which only makes pure electric cars, said Sunday it delivered 343,830 vehicles, missing estimates, as supply-chain snarls continued.
Buffett-backed BYD also saw exports of its electric-hybrid offerings rise last month. The Shenzhen-based company sold 7,736 cars abroad in September.
Beijing’s generous tax incentives are stoking vehicle demand, possibly lifting the country’s passenger-vehicle sales by more than 20 percent in the second half, Bloomberg estimates.
BYD’s total new energy passenger vehicle sales in the year through September now stand at 1.17 million, a 255 percent increase on the same period of 2021.
Closer to home, emerging Chinese EV brands -- Xpeng Inc., Nio Inc. and Li Auto Inc. -- reported a mixed set of monthly sales numbers.
Xpeng reported 8,468 deliveries, the lowest in seven months. Shares in the Guangzhou-based company have slumped 76 percent year-to-date, falling below their IPO price, prompting founder He Xiaopeng to increase his holdings to shore up confidence in the company.
Beijing-based Li Auto rebounded from an August slump induced by production woes in electricity-rationed Sichuan to sell 11,531 vehicles in September, the most since January. Nio also increased deliveries to 10,878, up from 10,677 in August.