China: BYD's Electric Car Sales Surpass ICE Rivals

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Electric vehicle (EV) sales in China continue to ride on apparently unstoppable momentum — roaring to another all-time monthly sales record in August of 666,000 units, which is some 12% higher than the previous peak attained just two months ago. More importantly, the oil demand erosion impact from EVs has reached a higher notch: Local automaker BYD, which only manufactures EVs, has snatched the crown for best-selling auto brand for two consecutive months since July, beating rivals which produce and sell both electric and conventional internal combustion engine (ICE) vehicles.

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