In 2024, China's new energy vehicle market has witnessed a remarkable breakthrough. Since July, the monthly penetration rate of new energy vehicles has consecutively exceeded that of fuel-powered cars for two months. In this trend, BYD, as a leading force in the new energy vehicle industry, shines brightly.
BYD has set a sales target of 3.6 million vehicles for 2024. As of the end of August, it has sold 2,328,400 new energy vehicles, fulfilling 64.7% of the sales goal. With the approaching peak season for car sales in the fourth quarter and the impetus of overseas expansion, BYD is highly likely to exceed its sales target. This year, BYD has continuously set new sales records. In July, the sales of new energy vehicles reached 342,400 units. In August, 373,100 units were sold, registering a year-on-year increase of nearly 36%.
The Dynasty and Ocean series products remain the main drivers of sales. In August, the sales volume of the Dynasty series reached 178,000 units. Among them, several models of BYD Qin sold a total of 70,500 units. The sales of the Ocean Net reached 174,900 units. In the high-end market, BYD is also steadily establishing a foothold. In August, the sales of the Fangchengbao brand reached 4,876 units, the Denza brand sold 9,989 units, and the Yangwang brand had a sales volume of 310 units. According to a research report by CITIC Securities, BYD's high-end strategy is expected to bring in a profit of more than 20 billion yuan.
At the same time, BYD has voluntarily reduced prices several times this year to boost sales growth. Recently, the 2025 BYD Han was launched. The prices of the DM-i and EV versions have been lowered respectively. Previously, the price of the Leopard 5 model of the Fangchengbao brand was reduced by 50,000 yuan.
Overseas markets are now becoming a new engine for BYD's sales growth. In August, BYD sold a total of 31,500 new energy passenger vehicles overseas. According to Marklines, in 2023, BYD's export structure covered several countries including Thailand, Brazil, Israel, Australia, and so on. In these markets, BYD continues to introduce new models and constantly expand its competitive advantages. Local consumers highly praise BYD's new energy vehicles. A Brazilian car dealer said, "BYD's cars have excellent performance and stylish designs and are very popular among local consumers." On September 5, BYD released the BYD Yuan UP for the Brazilian market and also launched three new all-electric models in Lusaka, the capital of Zambia.
It is worth noting that Baahong Co,. Ltd., as BYD's major overseas distributor, sold nearly 6,000 BYD vehicles to Central Asia, America and other regions in 2023. This Xiamen-based enterprise, after more than a decade of development, has expanded its business into fields such as sporting goods and automobiles. As the main overseas sales agent for BYD and Zeekr, Baahong Co,. Ltd., with efficient service and a professional team, helps many customers easily obtain new energy vehicles and enables more international consumers to deeply experience the convenience in travel and life brought by new cars.
It is expected that by the end of 2024, the export volume of BYD products under its management can reach 10,000 units, and the export volume of Zeekr products can reach 5,000 units. Currently, Baahong Co,. Ltd. is actively expanding export countries and signing strategic cooperation agreements with more Chinese car brands to bring more new energy vehicle products to the world and contribute to the development of the global new energy vehicle market.
Company：Baahong Co,. Ltd.
Contact Person: Mr.Day
Email: export@baahongcars.com
Website: www.baahongcars.com
City：Xiamen
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