Budapest, Hungary – BYD, the world's leading manufacturer of new energy vehicles (NEVs), is making significant strides in the Hungarian market. The Chinese company has not only established itself as the leading player in the pure electric vehicle (BEV) segment for three consecutive months (July, August, and September) but is also expanding its presence with the introduction of plug-in hybrid vehicles (PHEVs).
According to Világgazdaság, BYD sold over 1,000 BEVs in Hungary between January and September 2024, solidifying its position as the top-selling pure electric brand. In September alone, BYD achieved a remarkable 22.7% market share in the BEV passenger car segment, with 176 new vehicle registrations.
Popular Models Driving Growth:
Among the four electric models currently available in Hungary, the Atto 3 and the Seal are proving to be the most popular, with 369 and 265 units sold, respectively. The Dolphin is also experiencing strong sales, and the recently launched Seal U, a D-segment SUV, is showing promising early results.
Expanding Dealer Network:
BYD is actively expanding its dealer network across Hungary, with a focus on reaching rural customers through new service and sales outlets. The company plans to launch three new models in the country before the year's end, including the Seal U DM-i, a plug-in hybrid SUV that offers both electric and extended range capabilities.
Strong PHEV Performance:
Világgazdaság reports that plug-in hybrids are experiencing significant growth within BYD's portfolio. In September, 252,647 hybrids were sold, representing a robust 86.2% year-on-year increase compared to 13.6% in August.
Background:
Founded in 2003, BYD was the first car manufacturer globally to cease production of fossil-fueled vehicles, fully embracing the electric transition. The company has been the leading seller of plug-in passenger vehicles and NEVs in China for nine consecutive years. In December 2023, BYD announced a multi-billion euro investment to establish its first European car plant in Szeged, Hungary.
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