AutoBeta(AutoBeta.net)11/03 Report--

According to KuaiBao, BYD Co., Ltd. released its latest production and sales on Nov. 3, BYD sold 217500 new energy passenger vehicles in October, up 171.89 percent from a year earlier. This is a new record for BYD's monthly sales, up 187.0% from a year earlier to 201000 in September, and its sales exceeded 200000 for the second month in a row. In addition, BYD sold a total of 1.3928 million new energy passenger vehicles from January to October 2022, an increase of 239.05% over the same period last year.

"it is conservatively estimated that BYD's order this year will reach 1.5 million vehicles, and if the supply chain is done well, the order may hit 2 million vehicles," Wang Chuanfu revealed at an investor exchange meeting at the end of March 2022. " Based on the analysis of the sales target of 1.5 million vehicles, the target completion rate of BYD by the end of October is 93.5%. According to the analysis of BYD's current sales situation, it is not a problem to achieve the annual sales target of 1.5 million vehicles, and there may be little hope for 2 million vehicles. BYD's annual sales of about 1.86 million vehicles are expected in 2022.

On April 3, 2022, BYD announced that it would stop production of fuel-fueled vehicles from March this year and that it would focus on pure electric and plug-in hybrid vehicles in the future. An announcement made BYD the first carmaker in the world to stop selling fuel cars, but BYD's decision was seen by many as a bit radical. However, it turns out that BYD's decision is correct and conforms to the current market trend of the outbreak of new energy vehicles. According to the China Automobile Association, domestic sales of new energy passenger vehicles in the first three quarters of 2022 were 3.877 million, an increase of 113.2% over the same period last year.

According to the official website, BYD New Energy covers pure electric vehicles and plug-in hybrids, including the dynasty series composed of Qin, Han, Song, Tang, Yuan and other models, as well as the ocean series of dolphins, destroyers 05 and seals. The product price covers the range of 10-300000 yuan. Data show that July sales were 38697 in Song Dynasty, 34114 in Qin Dynasty, 25849 in Han Dynasty, 22172 in Yuan Dynasty, 21005 in Dolphin, 11788 in Tang Dynasty and 7548 in Destroyer 05.

At present, BYD is steadily improving in the domestic market, while overseas market development is the top priority. Over the past decade, BYD has successfully implanted commercial vehicles into more than 400 cities in more than 70 countries around the world, but passenger cars are still in the pioneering stage. Data show that BYD sold 730000 passenger cars in 2021, of which 15000 were overseas, accounting for about 2 per cent of global sales, while exports of new energy vehicles in 2021 were 426000, an increase of 291.4 per cent over the same period last year. BYD's overall share is less than 3 per cent.

In the second half of this year, BYD passenger cars went out to sea to speed up sharply. On July 11th, the compact SUV--ATTO 3 based on BYD e platform 3.0 (BYD Yuan plus) was officially launched in Singapore, realizing the debut of ASEAN countries. On July 21, BYD Yuan PLUS, Dolphin and Seal were released in Japan, announcing their decision to officially sell new energy passenger cars in the Japanese market from January 2023, which will be available in the Japanese market next year. Subsequently, BYD concentrated into Israel, Thailand, India, Malaysia, Colombia, Laos, Cambodia and other markets. It is understood that BYD has divided the global market into four major business sectors, including Shu Youxing, Li Ke, Liu Xueliang, and Huang Zhixue, the head of the market in Europe, Li Ke, Liu Xueliang, and Huang Zhixue, the head of the market in Europe.

For BYD, expanding overseas markets is mainly for sales. After all, even the Japanese market does not let go. From the third choice of models, overseas models are all models that have been verified in the domestic market. For example, the dynasty series of Qin, Song, Yuan, Han, Tang and ocean series of dolphins, seals, etc., but the market segment will be different, the early stage will not put all models into the specific market.

At the same time, in order to speed up its overseas expansion, BYD mainly relies on dealers, such as Hedin Mobility in Europe, Saga in Brazil, R ê VER Automotive in Thailand, Motorysa in Colombia and other dealer groups. In early October, BYD announced a cooperation agreement with car rental company SIXT. SIXT will purchase at least 100000 new energy vehicles from BYD in the next six years, and vehicle delivery will begin in the fourth quarter of this year. The first phase of the cooperation market includes Germany, the United Kingdom, France and the Netherlands.

However, for BYD, it may take time to break the ice in overseas markets. Although BYD has earlier buried some popularity in the global market through commercial vehicles, the passenger car market is indeed blank. BYD needs to improve its brand awareness while expanding overseas markets.

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