On the evening of the 1st, BYD released its production and sales report for December 2023. According to the data, in December 2023, BYD sold 341,000 new energy vehicles, a year-on-year increase of 45%. In 2023, BYD's annual sales of new energy vehicles will total 3,024,400 units, a year-on-year increase of 62.3%.
According to the WeChat official account of "BYD Auto", BYD's annual sales exceeded the target of 3 million units set at the beginning of the year, and the growth momentum was rapid, not only winning the annual sales championship of Chinese automobiles in one fell swoop, but also winning the global new energy vehicle sales championship.
BYD continues to enrich its product matrix
Overseas sales are frequently reaching new highs
In the past year, BYD continued to enrich its product matrix and launched new models in various segments, revealing to the market its ambition and strength to "take it all" for new energy vehicles. BYD's passenger car business has gradually formed a multi-brand gradient layout built by Dynasty.com, Ocean.com, Denza, Yangwang and Equation Leopard, covering from home to luxury, from mass to personalization, which can meet the needs of users in multiple scenarios.
At the same time, BYD continued to deploy its overseas sales network, and its overseas monthly sales frequently hit new highs. In December 2023, BYD sold about 36,100 units overseas. For the whole year of 2023, BYD sold about 242,800 new energy vehicles overseas. On the production side, BYD continues to deploy overseas production bases and improve local production facilities. At present, BYD's new energy footprint has covered more than 70 countries and regions on six continents and more than 400 cities.
According to the analysis of Soochow Securities, BYD has a complete product matrix, and a number of new models will be launched in the second half of 2023. From 2024 to 2025, it may be a big year for the company's products, with sales expected to be about 4 million and 5 million units respectively, a year-on-year increase of 33% and 25% respectively.
A number of new energy vehicle companies
New Year's "report card"
In addition to BYD, on the first day of the new year, a number of new energy vehicle companies released their sales report cards for December 2023.
SAIC Motor Motor achieved a record high of 219,000 NEV sales in December 2023, a significant year-on-year increase, and 1.123 million NEVs were sold in 2023, ranking second among Chinese automakers.
Li Auto delivered 50,353 new vehicles in December 2023, a year-on-year increase of 137.1%, successfully achieving the monthly delivery target of 50,000 vehicles. For the full year of 2023, a total of 376,030 vehicles were delivered, a year-on-year increase of 182.2%. As of December 31, 2023, Li Auto has delivered more than 600,000 vehicles, making it the new power car company with the highest delivery volume.
Li Xiang, CEO of Li Auto, said in a post on Weibo that all the goals for 2023 have been achieved, and higher goals will be challenged in 2024, including an annual sales target of 800,000 units.
Xpeng delivered a total of 20,115 new vehicles in December 2023, a year-on-year increase of 78%. For the full year of 2023, 141601 vehicles were delivered, up 17% year-on-year.
NIO delivered 18,012 new vehicles in December 2023, up 13.9% year-on-year. For the full year of 2023, a total of 160038 new vehicles were delivered, a year-on-year increase of 30.7%.
Leapmotor delivered 18,618 units in December 2023, a year-on-year increase of 119%. In 2023, a total of 144155 units will be delivered, a year-on-year increase of more than 29%.
It is expected that the auto market will stabilize and rise in 2024
"In 2023, China's auto market will show three bright spots, namely, the production, sales and exports of automobiles will reach record highs, while new energy vehicles will continue to grow rapidly. Fu Bingfeng, executive vice president and secretary general of the China Association of Automobile Manufacturers, said that in the past five years, the industry has experienced a critical period of transformation, ushered in a new dawn of electrification and intelligence, and China's automobile industry has risen in the transformation and is becoming a leader in innovative applications.
Looking forward to the auto market in 2024, Cui Dongshu, secretary general of the National Passenger Car Market Information Association, said that considering the demand of the consumer market and the current environment of the auto market, it is expected that the auto market will continue to achieve positive growth in 2024. Among them, as an important part of the new car market, the overall retail sales of passenger cars are expected to reach 22.2 million units in 2024, an increase of 3% from this year.
Chen Liran, director of forecasting research at the China Automotive Strategic Development Research Center of Tianjin University, said that the mainland auto market will maintain a stable growth trend in 2024, and new car sales are expected to grow by about 10% year-on-year. According to the calculation of 30 million car sales this year, if the new car sales achieve a year-on-year growth of 10%, this means that the car sales in 2024 are expected to reach 33 million, entering a new stage of development.
Source: China Economic Net
Editor: Jinping County Rong Media Center
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