From Financial Modeling Prep: 2024-12-09 05:06:48

BYD, China’s top electric vehicle (EV) manufacturer, is making significant market share gains globally, expected to surpass annual sales target and overtake major carmakers like Ford and Honda.

BYD’s sales momentum is strong, with 3.76 million vehicles delivered in the first 11 months of 2024, including 506,804 units in November alone.

The company’s market share in China increased from 12.5% in 2023 to 16.2% in 2024, outperforming competitors like Volkswagen.

BYD is set to exceed its annual goal of selling 4 million vehicles and aims for 6 million units in the next 12 months, positioning itself against global automakers.

BYD increased production capacity by nearly 200,000 units and hired 200,000 workers, gaining a competitive edge in the EV market.

BYD’s success is driven by strong domestic market demand, innovative PHEV lineup, and expansion into new markets like Europe.

Future projections suggest BYD could become a top global EV manufacturer, challenging established players with competitive pricing and strategic investments.

BYD’s rise in the EV market is impressive, with solid sales, aggressive expansion, and strategic investments positioning it for future growth and competition with traditional automakers.



Read more at Financial Modeling Prep:: BYD: China’s EV Giant Gaining Global Market Share