BYD Reaches an Important Sales Milestone in Hungary

BYD, the world's leading manufacturer of new electric vehicles (NEVs), is building a giant plant in Szeged which includes plug-in hybrid vehicles in addition to electric ones, and has reached a major milestone in Hungary: the Chinese company became the market leader in the battery electric vehicle (BEV) segment for the third consecutive month in Jul, Aug, and Sep.

The Asian company highlighted that it sold more than 1,000 BEVs between Jan and Sep 2024.

In Sep, BYD achieved a 22.7% market share of BEV passenger car sales in Hungary, with 176 new vehicle registrations.

BYD's stated goal is to build a nationwide dealer network in Hungary, and to this end it is actively working to open new service and sales outlets, primarily to directly reach potential rural customers.

The remainder of the year promises to be particularly busy for the Chinese manufacturer, with plans to launch three new models in the country.

As reported by Világgazdaság, what is really striking is the dynamic advance of plug-in hybrids (PHEVs) within the corporate portfolio. In Sep, 252,647 hybrids were sold, a robust 86.2% year-on-year growth, compared to 13.6% in Aug. BYD stopped making EVs in March 2022, and has since only assembled BEVs and PHEVs.

BYD Auto has led the sales of plug-in passenger vehicles, new energy vehicles (NEVs) in China for 9 consecutive years. China's BYD announced a multi-billion euro investment in Dec 2023, to set up its first European car plant in Szeged, southern Hungary.