BYD Outpaces Tesla in Electric Vehicle Sales, Reports Record Profits for 2023

January 30, 2024 – BYD Company Limited has demonstrated remarkable profitability in recent times, as evidenced by their latest financial report.

According to the 2023 annual performance forecast released by the company on January 29th, BYD is anticipating a net profit attributable to shareholders in the range of 29 to 31 billion yuan for 2023. This represents a significant increase of 74.46% to 86.49% compared to the previous year.

In the corresponding period of 2022, the profit stood at 16.622 billion yuan, with a basic earnings per share ranging from 5.71 yuan per share to a projected 9.98 yuan to 10.67 yuan per share in 2023. Based on these figures, BYD’s daily net profit for 2023 is expected to be between 79.4521 million and 84.9315 million yuan.

Moreover, 2023 marked a memorable year for BYD as it surpassed Tesla to become the world’s largest seller of pure electric vehicles. While Tesla delivered 484,500 vehicles in the fourth quarter of 2023, with a total annual delivery of 1.8086 million and produced 495,000 cars with an annual output of 1.846 million, BYD sold 526,400 pure electric vehicles in the fourth quarter alone, amounting to 1.5748 million for the entire year.

This achievement solidifies BYD’s position as a leading player in the global electric vehicle market and highlights the company’s consistent growth and innovation in the industry.

Leave a Reply