China’s leading EV maker hit a milestone, selling over 400,000 vehicles for the first time last month. BYD just had its fourth straight month of record-breaking sales as its dominant run continued in September. Will it be enough to top Tesla for the global EV sales crown?
BYD’s record-breaking sales continued in September
According to its latest filing, BYD sold a record 419,426 new energy vehicles (NEVs) in September. That includes electric vehicles (EVs) and plug-in hybrids (PHEVs).
BYD’s Dynasty/ Ocean models accounted for 401,572 of the sales, Fangchengbao had 5,422, Denza 10,299, and Yangwang sold 310 vehicles.
The growth was enough to top its previous record of 373,082 sold in August. BYD has now had four straight months of record-breaking sales.
BYD’s growth was primarily fueled by PHEVs, with 252,647 units sold last month, surging 86% from September 2023. September was BYD’s seventh consecutive month with record PHEV sales. The company has now sold nearly 1.6 million PHEV models in 2024, an increase of 53% from last year.
Meanwhile, EV sales continued to pick up. BYD sold 164,956 all-electric vehicles in September, up 9% from a year ago and 11% from August.
BYD Dolphin Mini (Seagull) launch in Brazil (Source: BYD)
A close race for global EV leader title in 2024
BYD’s cheapest EV, the Seagull, was China’s top-selling EV in August (40,949 models sold), with prices starting at under $10,000 (69,800 yuan). In September, BYD sold another 43,425 Seagull EVs.
Although BYD is best known for its affordable electric cars, the company is quickly expanding its lineup with pickup trucks, luxury models, and electric supercars hitting the market.
BYD’s wide-reaching portfolio (Source: BYD)
BYD has now sold 1,169,579 EVs through the first nine months of 2024, up 11.6% from last year. With new models rolling out globally, BYD sold 33,012 vehicles overseas, up 5% from August.
In the third quarter, BYD sold over 1.1 million vehicles, an increase of 38% from Q3 2023. It was also BYD’s first time crossing the 1M sales mark in a quarter. Of them, 443,426 were all-electric (+3% YOY), while the other 685,830 were PHEVs (+76% YOY).
BYD Atto 3 (left) and Dolphin (right) EVs in Japan (Source: BYD)
Earlier today, we learned Tesla delivered 462,890 EVs in the third quarter. Despite just missing expectations, it was enough to top BYD’s 443K third-quarter EV sales.
Tesla remains ahead of BYD through the first nine months of 2024. The EV leader has delivered 1,293,656 vehicles so far this year, compared to BYD’s EV sales of 1,169,579.
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With the launch of the first-ever Class 8 vocational EV in the North American market, PACCAR Kenworth is raising the battery-electric bar and underscoring just how far the market has come since the Tesla Semi made its debut nearly a decade ago.
When Tesla pulled the wraps off its all electric Semi truck all the way back in November of 2017, the rest of the industry was hardly thinking about BEVs. Nearly a decade later, the world is still waiting for the Semi to begin regular production, and PACCAR is launching its second generation of HDEVs with the debut of this, the all-new Kenworth T880E vocational truck.
“The Kenworth T880E marks a groundbreaking milestone in Kenworth’s history as we bring to market the first Class 8 battery-electric solution built for vocational applications,” explains Kevin Haygood, Kenworth assistant general manager for sales and marketing. “The T880E is engineered to meet the evolving needs of operators and vocational fleets while still providing the durability, reliability and customization our customers expect.”
The new electric K-whopper is motivated by PACCAR’s in-house ePowertrain platform, capable of putting up to 605 hp and 1,850 lb-ft of peak torque to work, while delivering the same levels of drivability and dependability fleets expect from a Kenworth – but power and torque are only part of the T880E’s work-ready résumé.
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Open to work
Kenworth T880E; via PACCAR.
In addition to a stout, Class 8 electric chassis fitted with heavy-duty Kenworth brakes and axles, the T880E’s central drive eMotor allows for significant wheelbase flexibility so fleet buyers can spec out exactly the machine they need to get the job done. The T880E was also designed to enable lift axle installations from trusted Kenworth upfitters for a vocational-friendly BEV integration.
Additionally, the T880E features a wide selection of factory-installed options that include both high- and low-voltage ePTO (electric Power Take Off) ports, mechanical ePTOs, and the same wide array of body configurations as the ICE version.
Speaking of the ICE version, the electric T880E also can also be had in the same set-back front axle and set-forward front axle configurations with the same multi-piece hood construction. Inside the cab, the latest in driver-focused technology includes the Kenworth SmartWheel and a new 15″ DriverConnect digital touchscreen. Dash and vocational features like RAM Mounts and factory-installed PTO switches are available. The T880E is also offered with Kenworth ADAS packages for customers interested in DigitalVision Mirrors, Bendix Fusion, and Lane Keeping Assist.
It’s so big, you guys
Kenworth T880E; photo by the author.
The T880E was on static display at last week’s ACT Expo in Anaheim, California. Check with your local Kenworth dealer for availability.
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The tire-blistering SU7 Ultra has been the Xiaomi brand’s flagship super sedan since its launch, but a controversial software setting has limited the car to “just” 900 hp in regular driving – resulting in an outcry from owners who ponied up for the big boy numbers. With its latest software update, that missing 648 hp is back on tap!
The SU7 Ultra made waves throughout the performance car world when a bright yellow striped example lined up alongside a white quarter mile king, the 1,000+ hp Tesla Model S Plaid, and promptly smoked it.
That wasn’t all. A preproduction SU7 Ultra prototype lapped the legendary Nürburgring circuit in just 6 minutes and 46.874 seconds, firmly stamping the 1,500+ hp Xiaomi’s alphanumeric into the track’s record books with a time nearly fifteen seconds quicker than a Rimac Nevera or, on the ICE front, either a Corvette ZR1, Viper ACR, or Porsche 918 (take your pick).
It’s hardly any wonder, then, that the customers who signed up – in droves, too – were disappointed to learn that the SU7 they were allowed to buy had been neutered by the safety nannies to the tune of nearly 650 hp. (!)
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We’re so back
The outrage from SU7 Ultra owners was immediate. And, facing mounting pressure online and on social media, Xiaomi ultimately decided to withdraw the performance-limiting features while acknowledging the need for more transparent communication about future software updates they messed up, saying in a statement, “we appreciate the passionate feedback from our community and will ensure better transparency moving forward.”
So, rich people can rocket themselves down the road in 9 second hypercars again and all is right with the world. A happy ending – but one that sort of illuminates a fresh set challenges for automakers peddling “software-defined vehicles” to a market that still thinks of their cars as very much hardware defined products.
The new reality is playing out in real time now, and the Jeff Bezos-backed $20,000 electric compact pickup from Slate Auto is going the other way entirely – time will tell whether more, or less tech is the answer.
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Tesla (TSLA) has started offering reduced interest rates on the new Model Y in the US — this equates to a direct discount on the brand new vehicle that was supposed to spark Tesla’s demand back.
The automaker has announced “1.99% APR or $0 Due at Signing available for well-qualified buyers” on the new Model Y in the US for the first time:
This amounts to a direct discount worth a few thousand dollars. It is the first widely available discount on the new Model Y coming just weeks after the cheaper non-Launch Edition launched in the US.
These discounts and subsidized financing point to soft demand for the updated best-selling vehicle in the US. Tesla just delivered a disastrous first quarter, which it mostly blamed on the Model Y changeover, resulting in lower inventory.
However, industry watchers, including Electrek, noted many signs that the Model Y changeover was not the only issue. Tesla added significantly to its inventory in the first quarter, and the wait times for the new Model Y were extremely short.
Now, the discount weeks after launching the new Model Y confirm the soft demand in the US.
I think it’s clear by now: the new Model Y is not coming to save Tesla.
Let’s be honest: It will still be a significant vehicle program by volume. It just won’t help Tesla return to growth this year.
The RWD Model Y is still coming and has a chance to help in the US. It is already available in China, and it’s not helping Tesla much there, but that’s in a hyper-competitive market, especially at lower prices where the RWD Model Y operates.
Tesla’s performance in Q2 in China will be interesting since it is basically back to its regular lineup for the whole quarter.
The US appears to have been Tesla’s least affected market, but Q3 will be the real test with the full lineup and no backlog of demand for new Model Y.
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