- The multi-brand effect
- Global market continues to expand
- Annual Target
As China's largest electric vehicle manufacturer, BYD has once again delivered impressive sales figures. The data reveals that in October 2024, BYD's sales of electric vehicles amounted to 502,700 units, marking a 66.53% increase year-on-year. Specifically, sales of battery electric vehicles (BEV) rose by 14.57% to 189,600 units; sales of plug-in hybrid models (PHEV) experienced a 129.30% increase, reaching 310,900 units.
The multi-brand effect
In the context of sales volumes illustrates BYD's current dominance, with four major brands under its umbrella: BYD, Denza, Fangchengbao, and Yangwang.
However, in comparison to traditional luxury car brands, BYD still lacks sufficient brand strength in the high-end market. According to recent data, in October, Denza sold 10,800 units, Yangwang sold 282 units, and Fangchengbao sold 6,026 units.
Global market continues to expand
BYD's sales growth is also inseparable from the growth of overseas markets. Data shows that in October, BYD’s sales of electrified passenger vehicles overseas reached 31,200 units, including 28,000 units exported.
On October 2nd, the BYD SONG PLUS DM-i was launched in Greece; on October 14th, at the Paris International Motor Show in France, BYD showcased several models and simultaneously launched the SEALION 07EV in Europe; on October 26th, the BYD SONG PLUS DM-i and TANG EV were launched in Hungary. In short, BYD's expansion in the global market is unstoppable.
Annual Target
As of the end of October, BYD's global cumulative sales from January to October this year totaled 3,250,500 units, a year-on-year increase of 36.49%, and has completed 90.29% of the 3.6 million-unit annual sales target. In the next two months, BYD only needs to complete the remaining 349,500 units to reach the target, and according to this calculation, BYD's probability of completing the sales target as scheduled is extremely high.
With more new cars on the market, BYD will be able to grab market share. In addition, the fourth quarter of each year is a key point for many car companies to impact sales, and BYD's sales are expected to continue to hit new highs at that time. It is also expected that more new BYD vehicles will enter the Middle East market, giving us more choices.
