#Record my 2024# In China's new energy vehicle market, BYD is undoubtedly a very famous company, as a leader in the new energy vehicle market, BYD's development has also attracted market attention, just recently BYD's annual sales exceeded 3 million, how to analyze BYD, which has become the sales champion without a certain word?
1. BYD's annual sales exceeded 3 million?
According to a report from the reference news, according to the website of the "Nihon Keizai Shimbun", the Chinese auto giant BYD announced on the 1st that the company's global sales in 2023 will increase by 62% year-on-year to 3.02 million units, completing the set target of 3 million units.
According to reports, BYD only sells electric vehicles and plug-in hybrid vehicles, and among passenger cars, sales of pure electric vehicles increased by 73% to 1.57 million units, and plug-in hybrid vehicles increased by 52% to 1.438 million units.
China, one of the world's most important markets, has an increasing demand for new energy vehicles, including electric vehicles, and in 2023, BYD has successively launched low-cost small electric vehicles such as "Seagull" and "Seal".
BYD's exports to Southeast Asian countries such as Thailand and Europe have increased, with overseas sales exceeding 240,000 units, accounting for 8% of total sales.
The China Association of Automobile Manufacturers forecasts that China's new vehicle sales (including exports) will increase by 3% from 2023 to about 31 million units in 2024. It is expected that the growth rate of the domestic market will slow down, but the total export volume will expand to 5.5 million units.
According to the website of the Financial Times, China's BYD Group is one step closer to replacing Tesla Motors as the world's largest electric vehicle manufacturer by sales after reporting high sales in the fourth quarter of 2023.
BYD said it sold a record 526,000 pure electric vehicles in the fourth quarter of 2023. This was mainly due to the sharp increase in sales in December 2023.
According to estimates compiled by Bloomberg News, Tesla is expected to sell about 483,000 vehicles in the fourth quarter of 2023.
2. What should I think of BYD's new energy sales ranking first in the world?
BYD's annual sales volume will exceed 3 million in 2023, winning the double championship of the Chinese and global new energy vehicle markets in one fell swoop.
First of all, BYD's sales breakthrough has long been in our expectations, thanks to its rapid development and technological accumulation over the years. BYD has always adhered to independent research and development, accumulated deep technical barriers in the fields of battery technology, electric drive system, and intelligent networking, and constantly iterated products to improve product strength. It is this high growth rate and spirit of continuous innovation that makes BYD stand out in the global new energy vehicle market and always maintain a high growth trend.
Secondly, BYD's success in the new energy vehicle market is inseparable from its rich product line and brand matrix. At present, BYD has formed a 3+2 product system covering sedans, SUVs, MPVs and other models to meet the needs of different consumers. Among them, BYD's Dynasty series is mainly high-end positioning, such as Han, Tang and other models, with its excellent performance and quality, has won the favor of many consumers, while the Ocean series is characterized by youthfulness and fashion, such as dolphins, seals and other models, which are deeply liked by young consumers.
In addition, BYD has also launched three new brands: Denza, Yangwang and Equation Leopard. The DENZA brand is mainly aimed at the high-end market, with electric SUVs as its main products, while the Yangwang brand features hard-core off-road vehicles such as the Yangwang U8, and the Formula Leopard brand focuses on the mid-range market. The launch of these new brands further enriches BYD's product line and enhances the competitiveness of the brand.
Third, while maintaining the influence of the original brand, BYD actively carried out the strategic deployment of high-end brands, and promoted the development and sales of high-end models through the two sub-brands of DENZA and Yangwang. With the outstanding performance of the D9 model in the MPV segment, DENZA proves that BYD can not only outperform its competitors in the new energy track, but also occupy a place in the market competition at a higher level. The Yangwang brand has entered the million-level luxury car market with flagship models such as U8 and U9, demonstrating BYD's determination and strength to challenge the world's top automakers.
Fourth, BYD's development speed and internationalization process have also provided strong support for the company's success. Globally, the new energy vehicle market is in a stage of rapid development, and the support policies of governments for new energy vehicles are also increasing. BYD seized this opportunity and accelerated the pace of internationalization, further expanding overseas markets by cooperating with local companies and setting up R&D centers. This allows BYD to make better use of global resources, improve production efficiency, and reduce costs, so as to gain an advantage in the fierce market competition.