China's BYD and EV Peers Post Record December Sales

Chinese companies offered discounts and benefited from a trade-in program

- JIAHUI HUANG

BYD sold a record number of electric and hybrid vehicles in December, leading a host of Chinese peers benefiting from a government trade-in program in the world's largest market for EVs.

China's top domestic EV maker said Wednesday that it sold 514,809 vehicles in the final month of 2024, notching a third consecutive month of sales exceeding the 500,000 mark and lifting full-year sales 41% higher to 4.3 million vehicles. The company was also helped by robust overseas sales, which rose 58% to more than 57,000 vehicles in 2024.