On June 2, several leading new energy vehicle (NEV) companies disclosed their sales figures for May. Notably, BYD Co., Ltd. (01211.HK) emerged as the market frontrunner with sales of approximately 382,500 vehicles, marking a robust year-over-year growth of 15%. Among these sales, pure electric passenger vehicles accounted for 204,400 units, registering an impressive 39.6% increase. On the other hand, sales of plug-in hybrid vehicles stood at 172,600 units, experiencing a slight decline of 6.26%. According to Citibank, BYD's recent price reductions are anticipated to spark a significant surge in dealership traffic, potentially rising by 30% to 40%.

Furthermore, BYD's expansion into the European market has yielded promising results. In April, the company sold 7,231 pure electric vehicles in Europe, representing a year-over-year surge of 169%. This robust performance surpassed Tesla's sales of 7,165 units (which declined by 49% year-over-year), propelling BYD up one position in the regional rankings.