200,000 vehicles, 300,000 vehicles, 400,000 vehicles, 500,000 vehicles... With the announcement of sales results that are far beyond the reach of its competitors every month, BYD is increasingly taking root on the throne of championship, and the continuously setting new highs has also earned it more and more titles.
According to data from the China Passenger Car Association, BYD's annual sales exceeded 4.27 million vehicles, a year-on-year increase of 41.1%. It not only retained the sales champion of automobile companies and brands in the Chinese automobile market, but also became the sales champion in the global new energy vehicle market.
In addition, when China surpassed Japan to become the largest automobile exporter, BYD also played an important role. First, BYD's automobile export growth rate ranked first among Chinese automobile brands in 2024, and second, BYD's sales of new energy vehicles in Japan surpassed the largest local automaker, Toyota.
The achievement of these results is the inevitable result of BYD's deep cultivation in the field of new energy vehicles for many years, and is also the crystallization of the combined effect of its technological innovation, product layout and market strategy.
Strong product power + exquisite layout = mass production of "explosive products"
While the new forces are celebrating their annual sales exceeding 500,000 units, BYD has achieved monthly sales exceeding 500,000 units for three consecutive months, and exceeded 510,000 units in December 2024. This cliff-like lead obviously cannot be explained by "price advantage" alone.
In fact, BYD has been planning since the beginning of 2024. After the year, it launched the Qin PLUS DM-i Honor Edition, which starts at 79,800 yuan, directly lowering the threshold of A-class new energy vehicles to "lower electricity than oil", and attacking the "last bastion" of joint venture sedans. Since then, BYD has successively launched more than a dozen Honor Edition models, such as Destroyer 05, Dolphin, Han Family, etc., covering different market segments, from compact cars to SUVs, each model has been optimized and upgraded for specific consumer groups. This has enabled BYD to consolidate its position in the low- and mid-end markets, especially in the key price range of 50,000 to 150,000 yuan, rapidly increasing its market share, and this range occupies half of the entire market. According to data from the China Association of Automobile Manufacturers, the market size of new energy vehicles between 50,000 and 150,000 yuan exceeded 4 million vehicles in 2024, accounting for about 40% of the overall new energy vehicle market.
For BYD, occupying the popular market is the first step. The next step is to fill the mid-to-high-end market by deeply optimizing the cost structure of existing models and introducing higher-end product lines such as the Denza Z9GT and the Formula Leopard "Leopard 8".
It is obvious that BYD's market strategy is to rely on the advantages of vertical integration of the supply chain and sales volume to naturally spread the production costs, thereby converting the cost savings into more competitive prices.
Looking at sales specifically, the Dynasty series delivered 256,200 vehicles in December, a month-on-month increase of 1.2%. The total number of vehicles delivered for the whole year was 2.097 million, a year-on-year increase of 40.7%.
The Ocean series also performed well, with 223,500 vehicles delivered in December and 1.94 million vehicles delivered from January to December, a month-on-month increase of 40.8%.
The high-end brand BYD delivered a total of 126,035 vehicles from January to December, with the average transaction price of more than 370,000 yuan per vehicle; the Fangcheng Leopard delivered a total of 53,925 vehicles from January to December, with monthly sales of high-end models such as Leopard 5 and Leopard 8 exceeding 6,000 units; the million-level luxury car brand also sold about 7,400 units last year.
It can be said that BYD's forward-looking technological reserves and exquisite product layout have achieved a leap from quantitative change to qualitative change. Its influence is no longer limited to the once affordable small cars, but dominates a wide price range from "five digits" to "seven digits".
Technology drives progress, and engineering thinking is the underlying color
Whether it was a little-known car company in the past or a global giant now, BYD has never changed its engineering background in the process of identity transformation. From producing battery fixtures to replace assembly lines, to Yisifang and blade batteries, it is technology that has always driven BYD forward.
BYD has accumulated more than 20 years of technology in the field of new energy vehicles. In the first three quarters of this year, BYD's R&D expenditure exceeded 33.3 billion yuan. As of now, the cumulative R&D investment has exceeded 160 billion yuan. It has a strong R&D gene and engineering culture. At present, there are nearly 110,000 R&D personnel, which is the largest car company in the world. It has applied for more than 48,000 patents and authorized more than 30,000 patents worldwide, and won 4 patent gold awards. On average, 32 patents are applied for and 15 patents are authorized every working day. From three electrics, to control comfort, to intelligent driving, BYD has once again achieved a full range of technological breakthroughs in 2024.
In terms of core technologies for new energy vehicles, BYD has launched the fifth-generation DM technology. This technology is known for its excellent engine thermal efficiency, fuel consumption per 100 kilometers, comprehensive driving range, lower cost and smaller size. Models such as Qin L DM-i and Haibao 06 DM-i are equipped with this technology.
In terms of intelligent driving technology, BYD has developed its own high-level intelligent assisted driving system "Eye of God". This system can realize automatic driving in complex urban road conditions without high-precision maps, including intersection passing, traffic light passing, overtaking, intelligent obstacle avoidance and other functions.
At the same time, BYD also launched the Xuanji intelligent architecture, which integrates materials, components, systems, control and the whole vehicle's independent research and development to build a BYD ecosystem with high quality and excellent post-production guarantee. Models under this architecture are equipped with high-computing chips, such as the D300 chip based on the 3nm process, which significantly improves the intelligence level of the whole vehicle.
In addition, BYD's Xuanji AI model has a big data base and computing power cluster, and has a vehicle-level multimodal AI model library, which improves the vehicle's interactive capabilities such as intelligent voice and gesture recognition, making the interaction between users and vehicles more natural and smooth.
As the new energy era moves from the "electrification" first half to the "intelligence" second half, BYD is using continuous technological breakthroughs to accumulate advantages and seize the initiative in the second half.
With the fastest growth rate, BYD plays an important role in the globalization of Chinese cars
Whether it is the opening of a factory in Thailand in July 2024, or the huge booth at the Paris Motor Show in October that was broadcast live by local media, BYD's influence has long since broken through the simplified Chinese circle and permeated the global market.
In terms of overseas layout, BYD has already set up production bases in many countries and regions. For example, in Europe, BYD established its first new energy passenger car factory in Hungary, which not only marked BYD's official entry into the European market, but also laid a solid foundation for its production and sales in Europe.
In Asia, BYD has also set up factories in Thailand, Uzbekistan and other places. These factories not only meet the needs of the local market, but also provide strong support for BYD's business expansion in Southeast Asia and South Asia.
In South America, BYD has established a complete vehicle factory in Brazil, which is an important layout in South America and aims to further expand the Latin American market.
BYD has also made significant progress in building its sales network. By cooperating with local companies, BYD has achieved localized operations and improved its market penetration and competitiveness. At the same time, BYD has also set up sales showrooms and service centers in many regions around the world, providing a full range of after-sales services and winning the trust and praise of customers.
It is worth mentioning that BYD does not simply export its vehicles overseas, but focuses on deep localization. Taking Thailand as an example, BYD not only launched product lines that meet local market needs, such as Dolphin, Seal, and Atto3, but also actively participated in the construction of the local industrial chain and established its first overseas passenger car factory in cooperation with WHA Group.
BYD's overseas layout is comprehensive and in-depth. The company has established a complete production, sales and service system around the world, with strong market performance and promising globalization.
The latest data released by the China Association of Automobile Manufacturers shows that in 2024, my country will export 5.859 million vehicles, a year-on-year increase of 19.3%, making it the world's largest exporter. Despite the unfavorable factors such as the high cost of electricity in Europe and the tariff policies of Europe and the United States, Chinese cars have been recognized in the global market for their dimensionality reduction product strength. And the propaganda stands on the side of the main highway and on the big screen of the business building, with rows of shining chrome slogans of "build your dream", are also gradually occupying the minds of overseas users.
