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BYD Company Limited (BYDDY) is in focus today after reporting a rather huge sequential decline in its quarterly sales.

How many vehicles did BYD sell in Q1?

The EV company based out of Shenzhen, China sold a total of 300,114 vehicles in Q1 – down a whopping 43% versus the fourth quarter.
Year-over-year, BYD did come in 13.4% up in terms of first-quarter sales on Tuesday, but the sequential decline would still make it hand back the title of the largest electric vehicles seller in the world to Tesla Inc (TSLA).

$TSLA is broadly expected to report sales of well over 400,000 in its first quarter. The Nasdaq-listed firm is slated to post its deliveries upside on Wednesday (April 3^rd).

BYD stock is currently up 13% versus its year-to-date low.

BYD reports increase in plug-in hybrids sales

BYD sold a total of 139,902 electric vehicles in March that translates to about a 36% increase versus a year ago. At 161,729 units, sales of its plug-in hybrids came in over 56% up on Tuesday.

The China Passenger Car Association is scheduled to report the number of EVs that Tesla delivered in March (in China) later today.

In March, sources told Reuters that BYD wants to sell 3.6 million units in 2024 – a 20% increase versus record sales last year (read more).

The Chinese automaker has also lowered prices of its vehicles by up to 20% in recent months to make them more attractive than Tesla. Wall Street currently has a consensus “buy” rating on BYD shares.

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