AutoBeta(AutoBeta.net)09/12 Report--

Recently, Morgan Stanley's automotive industry analyst Tim Hsiao and his team pointed out in their latest report that BYD's management announced that it would increase its annual sales target to 4 million units, an increase of about 400,000 units compared with the previous sales target guidance. In this regard, Li Yunfei, general manager of BYD's brand and public relations department, said on social platforms that the current ordering situation is indeed good, but he has not heard of an increase.

According to data released by BYD, BYD's car sales in August were 373,000 units, a year-on-year increase of 35.97%. As of the end of August, BYD's cumulative sales of cars were 2.328 million units, a year-on-year increase of 29.92%, completing 65% of the annual sales target of 3.6 million units. Next, BYD's monthly sales only need to stabilize at more than 320,000 units per month to complete the sales target as scheduled. There is not much pressure on BYD.

After the Spring Festival of the Year of the Dragon, BYD shouted the slogan of "electricity is lower than oil" and launched the glory version of Qin PLUS and destroyer 05, which started at 79,800 yuan. Other models of its Dynasty Network and Ocean Network have also launched glory versions. Driven by low prices, BYD's car sales continue to rise. Recently, BYD launched the 2025 Han Family with a price of 165,800 yuan. It is equipped with a fifth-generation DM superhybrid system with lower electricity than oil. It is a price reduction of 4000 yuan compared to the Han Glory version launched at the beginning of the year. It is understood that in the fourth quarter, BYD will also launch the new Song Pro DM-i, the new Sea Lion 05 DM-i and the "Summer" series MPV models. New cars from other brands such as Tengshi Z9 and Equation Leopard 8 will also be launched one after another.

BYD's sales growth is also inseparable from the growth of overseas markets. Data shows that BYD's overseas sales from January to August 2024 exceeded 260,000 units. BYD's layout in overseas markets continues to improve, and by launching more new models, it has further enhanced its brand influence in the global market. On September 5, BYD teamed up with local Zambian dealer Pilatus Group to hold an event in Lusaka to officially launch three new pure tram models-Yuan PLUS, Seal and Dolphin-for the local market. On September 9, BYD announced the official release of its latest multi-function MPV model-the BYD M6-in Bangkok, Thailand.

On August 28, BYD released its 2024 semi-annual report. The announcement shows that in the first half of the year, BYD's revenue was 301.127 billion yuan, a year-on-year increase of 15.76%, surpassing SAIC Motor Group, which had ranked first in revenue for a long time for the first time; net profit attributable to the parent company was 13.631 billion yuan, a year-on-year increase of 24.44%; gross profit margin was 20.01%, a year-on-year increase of 1.68%, achieving increased income and increased profits.

On September 10, BYD issued an announcement that a number of senior executives and core personnel increased their holdings of 142,000 shares through centralized bidding transactions, with a total increase of 35.4536 million yuan. BYD said that the increase in shares by executives is based on their confidence in the prospects of the new energy industry and the company's future development under the national "double carbon" goal, and continues to be optimistic about the long-term investment value of the domestic capital market.

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