This is your complete guide to BYD sales and statistics for 2024. This piece was created in April 2024, after quarterly disclosure.
Table of contents
BYD is a leading Chinese electric vehicle manufacturer at the forefront of the EV revolution.
With a focus on international expansion, BYD has entered various overseas markets, including Europe, North America, and Latin America.
Many say BYD entered the market by copy-and-pasting its competitors and offering cheaper products.
But is that really true?
Read on and find all the most recent data and statistics about this Chinese company.
BYD Facts and Statistics (Editor’s Picks)
- BYD was founded in 1995 in Shenzhen, China, in Wang Chuanfu, with only 20 employees
- BYD acronym stands for “Build Your Dreams”
- BYD Auto started its automobile business in 2003
- BYD F3 was BYD’s first car, produced in 2005, priced at around USD 10,000
- In 2008, Warren Buffett invested $232 million for a 10% share in BYD because he believed in ”new energy” vehicle success
- In 2009, BYD entered the bus industry, producing battery electric buses initiated by the Chinese government
- BYD entered the American market in 2011, establishing its North American headquarters in Los Angeles, California
- In 2016, BYD signed American actor Leonardo DiCaprio as the brand ambassador
- In 2021, BYD received 2,337 new patents in China and 297 overseas, totaling 19,837 Chinese patents and 3,411 overseas
- In 2022, BYD completely ended the production of internal combustion engine vehicles (ICE), focusing only on new energy vehicles
- BYD released its smallest and cheapest battery electric vehicle (BEV), called the Seagull, in April 2023
- In 2024, BYD introduced a cargo ship named BYD Explorer to carry their cars
- BYD is a leading producer of rechargeable batteries. They operate in the four core fields of Electronics, Automobile, New Energy, and Rail Transit
Where are BYD EVs Made?
The bulk of BYD’s electric vehicles are made in China.
However, the company also manufactures buses in facilities located outside of China:
- United States
- Canada
- Brazil
- France
- Hungary
BYD Cars Manufacturing Location
All BYD’s car manufacturing is in China:
- Shenzhen
- Xi’an
- Changsha
Headquarters: Shenzhen, China
Source: BYD
BYD Annual Car Production
In 2023, BYD produced more than 3 million units.
1.6 million were battery-only passenger cars and 1.4 million hybrids.
This is the graph that shows BYD’s annual car production from 2019 to 2021:
Year | Production |
---|---|
2019 | 455,073 |
2020 | 431,954 |
2021 | 747,540 |
In Q1 2024, production was 291,730 EVs, increased by 9%.
How Many Cars Have BYD Sold in 2023?
In 2023, BYD sold 3,024,417 vehicles, a significant increase of 61.8% compared to the previous year.
BYD Sales by Quarter
In Q1 2024 BYD sold 300,114 fully electric vehicles.
Quarter | Sales |
---|---|
Q1 2023 | 264,647 |
Q2 2023 | 352,163 |
Q3 2023 | 431,603 |
Q4 2023 | 526,409 |
Q1 2024 | 300,114 |
The Q1 2024 sales show a 13.4% increase from Q1 2023.
Smart EV Charging: Unlocking Its Full Potential
In March 2024, BYD sold 302,459 new energy vehicles, achieving a 46% YoY increase.
38,434 were overseas sales, topping its old record of 36,174 from January 2023.
BYD Car Sales by Year
We show BYD’s annual sales from 2019 – 2023:
Year | Sales |
---|---|
2019 | 409,421 |
2020 | 394,608 |
2021 | 721,328 |
2022 | 1,802,464 |
2023 | 3,024,417 |
It is clear that BYD has experienced a significant boost in its sales, mainly due to its lower price range and hybrid versions in addition to battery-only powered cars.
BYD Sales by Model
BYD’s total sales for the year reached 3,024,417 vehicles, including almost 1.6 million fully electric vehicles.
Ocean and Dynasty Sales:
The Ocean and Dynasty Series are BYD’s bestsellers. Together, they reached sales of 2,877,353 units in 2023, which is a 55.3% increase from the previous year.
BYD’s total sales for the year reached 3,024,417 vehicles, including almost 1.6 million fully electric vehicles.
Ocean Models:
- BYD Seagull
- BYD Dolphin
- BYD Seal
Dynasty Models:
- BYD Tang
- BYD Qin
- BYD Song
- BYD Yuan
Sales of Other Models:
There are other notable series and their models:
- DENZA (Denza D9)
- YANGWANG (YANGWANG U8)
- FANGCHENGBAO (FANGCHENGBAO 5)
BYD Best-selling Models:
Here is a breakdown of BYD’s best-selling models in 2023:
BYD Model | Sales |
---|---|
BYD Song (BEV + PHEV) | 636.53 |
BYD Qin (BEV + PHEV) | 456.31 |
BYD Yuan | 418.99 |
BYD Dolphin | 354.59 |
BYD Seagull | 254.18 |
BYD Han (BEV + PHEV) | 228.01 |
Best-selling BYD car: BYD Song
Sources: BYD, Statista, Electrek, Statista
BYD Sales by Country (China, US, Europe)
The company is working very hard on an international market presence.
BYD Sales Worldwide
BYD operates in more than 50 countries, selling their vehicles in more than 70 countries, on 6 continents.
BYD Sales in China
BYD is by far the most popular EV manufacturer in China.
Here is a graph that shows the total BYD annual sales in the Chinese market since 2005:
Year | Sales |
---|---|
2003 | 21,253 |
2004 | 17,900 |
2005 | 11,038 |
2006 | 63,592 |
2007 | 101,665 |
2008 | 170,880 |
2009 | 448,458 |
2010 | 519,745 |
2011 | 456,152 |
2012 | 495,610 |
2013 | 531,745 |
2014 | 429,946 |
2015 | 435,685 |
2016 | 489,554 |
2017 | 420,294 |
2018 | 532,059 |
2019 | 528,106 |
2020 | 447,994 |
2021 | 784,297 |
2022 | 1,795,459 |
These figures only show how popular BYD is in China and how dominates its home market.
Source: Good Car Bad Car
BYD Sales in the US
For now, you can’t buy a BYD car in the US.
The issue is consumer demand. Small cars just don’t sell.
Also, China’s government support and BYD’s low pricing strategy are not appreciated by America.
BYD Sales in Europe
BYD is ”just getting started” selling in Europe, with plans to increase market share by 5%.
In 2023, BYD sold 15,644 electric vehicles in the region.
They reported that EVs built in Europe will be for the Europe market.
Interesting fact: This year BYD is a UEFA EURO 2024 Official Partner, signaling a strong commitment to the European market.
BYD Annual Revenue
What is BYD yearly revenue?
In 2023 BYD Company had a revenue of 602 billion yuan, which is approximately 90.3 million USD.
Around 324.7 billion yuan of the revenue came from the electric vehicles.
Year | Revenue (in millions) |
---|---|
2010 | 46.69 |
2011 | 46.31 |
2012 | 44.38 |
2013 | 49.77 |
2014 | 55.37 |
2015 | 77.61 |
2016 | 100.21 |
2017 | 102.65 |
2018 | 121.79 |
2019 | 127.74 |
2020 | 156.60 |
2021 | 216.14 |
2022 | 424.06 |
2023 | 602.32 |
Market cap: 79.76B USD
Sources: BYD, Stock Analysis
BYD Market Share
BYD remains the world’s largest plug-in hybrid electric vehicle manufacturer and the second-largest battery electric vehicle manufacturer.
Tesla is the world’s largest battery-electric vehicle manufacturer.
Here’s the table showing the global plug-in electric vehicle market share in 2023, by manufacturer:
Manufacturer | Market Share |
---|---|
BYD | 22% |
Tesla | 13.2% |
VW Group | 7.3% |
Geely-Volvo Car Group | 6.8% |
SAIC* | 5.8% |
Others | 45% |
BYD also holds a substantial 36% market share in the new energy vehicle segment in China.
Source: Statista
BYD Sales vs Tesla
Tesla sold 1.81 million BEV and BYD sold 1.57 million BEV.
According to current indications, BYD is expected to overtake Tesla in BEV sales by 2024.
Related read: Tesla Sales and Statistics for 2024
Number of BYD Employees
BYD is a global company with over 570,000 employees, over 30 industrial parks, and more than 40 branches worldwide.
Source: Statista
Conclusion
BYD is investing, researching, and developing affordable electric cars, which puts them miles ahead of many traditional North American and European auto makers.
That’s probably why BYD sales and statistics look strong for 2024.
It seems that this Chinese manufacturer will be a major player in the global shift towards fully electric vehicles in the next year…
So, what do you think? Let us know in the comment section below!