September 11, 2024 – According to a report released by Morgan Stanley’s automotive industry analysts, including Tim Hsiao, on September 9th, it was noted that BYD’s management had announced an increase in their annual sales target to 4 million vehicles, an upward adjustment of approximately 400,000 units compared to their previous sales guidance.
In response to this report, Li Yunfei, General Manager of BYD Group’s Brand and Public Relations Department, stated, “The current sales situation is indeed positive, but I haven’t heard of any plans to revise the sales target upward.”
BYD sold 373,083 vehicles in August 2024, representing a 36% year-on-year increase. The cumulative sales for this year have reached 2,328,449 vehicles. Specifically, pure electric passenger vehicle sales in August amounted to 148,470 units, with a cumulative total of 1,004,623 units sold this year, indicating a 11.97% year-on-year growth. Additionally, plug-in hybrid passenger vehicle sales reached 222,384 units in August, accumulating to 1,314,175 units sold this year, a 48.30% increase compared to the previous year.
Based on these figures, if BYD intends to achieve an annual sales target of 4 million vehicles, they would need to sell close to an average of 420,000 vehicles per month from September to December of this year.
