September 10, 2024 – According to a report by Bloomberg, Morgan Stanley’s automotive industry analysts, including Tim Hsiao, stated in a report on September 9 that BYD’s management has announced an increase in its annual sales target to 4 million vehicles.
The report mentioned that BYD’s previous sales target was approximately 3.6 million vehicles. The brighter outlook for BYD is linked to the growing demand for electric and hybrid vehicles among Chinese consumers.
In August 2024, BYD sold 373,083 cars, representing a year-on-year increase of 36%. The cumulative sales for this year have reached 2,328,449 vehicles. Specifically:
Pure electric passenger cars sold 148,470 units in August, with a cumulative total of 1,004,623 vehicles sold this year, showing a growth of 11.97% compared to the same period last year.
Plug-in hybrid passenger cars sold 222,384 units in August, bringing the year-to-date total to 1,314,175 vehicles, an increase of 48.30% year-over-year.
Based on these figures, to achieve the annual sales target of 4 million vehicles, BYD would need to sell approximately 420,000 cars per month from September to December.
In line with previous reports, BYD has been actively launching new models. Recently, the company introduced the 2025 BYD Han DM-i/EV, priced at 165,800 yuan and up. Additionally, BYD plans to release updated versions of the Song Pro DM-i and Haishi 05 DM-i, as well as a brand-new “Xia” series MPV model in the near future.
