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HomeEco-Friendly DrivingHow BYD's Product Offensive Pushed It To The Top

How BYD’s Product Offensive Pushed It To The Top


It is no secret that China is a big market for electric cars. More than half of the world’s BEVs (Battery Electric Vehicles) are sold there, so it is obvious that this country has the greatest supply.

According to my research, about 468 all-electric models (excluding commercial vans, light commercial vehicles, and rebadges) will be available by October 2024, of which 267 are Chinese (57 percent of the total). BYD is thus set to become an even more serious competitor to Western automakers.

Growing in size

BYD started producing cars only 22 years ago, with cars copied from the Western market and low-quality standards. Then, between 2018 and 2019, while other automakers faced pandemic and semiconductor problems, BYD accelerated its plans by becoming a leader in the domestic market. In 2023, it surpassed Volkswagen’s sales and became the preferred brand in China.

The leadership resulted from a major product offensive that included new models in almost every mainstream segment. The strategy has been to target both the pure electric and plug-in hybrid car markets with cutting-edge software, infotainment, and battery performance.



BYD Group’s global sales in units

The increased competitiveness of its cars has affected sales, which rose from 427,300 units in 2020 to 2.89 million last year (excluding volumes from BYD’s other brands, such as Denza and Yangwang). For comparison, over the same period, Tesla’s global volumes increased from 500,000 to 1.81 million units.

This year through September, BYD and all its brands sold 2.75 million units, a 32 percent increase, including 1.17 million pure electric cars, a 12 percent increase. Tesla sold 1.29 million electric cars, down 2 percent. The gap is closing.



Global sales of electric vehicles (Number of Teslas sold per 1 BYD electric vehicle)

How have they succeeded?

There are two main reasons for BYD’s success. The first is price competitiveness, which is the result of strong support from the Chinese government and domestic production. BYD’s vertical integration reduces costs and time and secures the key part of any electrified vehicle: the batteries.

The second reason is its strategy. Present in both the BEV and PHEV (Plug-in Hybrid Vehicle) segments, BYD has become the most comprehensive offering for those who want to switch from combustion engine cars to electrified ones. Its overall range is so diverse that it is now as large as that of Renault, Ford, or BMW and larger than that of Mazda, Mitsubishi, Skoda, or others.

The next target

Last year, 95 percent of BYD Group’s total sales came from China. As its cars meet global standards, it is aggressively paving the way in other markets. So far, the greatest progress has been made in Southeast Asia and Latin America. Yet, BYD knows that to become a truly global player, it must expand its presence in Europe since it is virtually banned from the United States.

Based on the prices and products it offers now, it can become a real threat to both Western manufacturers and Tesla. We will see what happens in the coming months.

BYD’s market share in BEV sales.

Where   Market share BYD’s position in the best-selling car ranking
Europe Austria 9% Third
  Denmark 3% Ninth
  Spain 5% Sixth
  Greece 6% Third
  Hungary 14% Second
  Ireland 9% Fifth
  Portugal 6% Sixth
  Finland 3% Tenth
Asia-Pacific Israel 26% First
  Malaysia 59% First
  Singapore 46% First
  Thailand 41% First
  Australia 20% Second
  India 3% Fourth
  New Zealand 13% Second
  Philippines 46% First
  Indonesia 28% Second
Latin America Brazil 73% First
  Colombia 34% First
  Chile 21% Second

The author of the article, Felipe Munoz, is Automotive Industry Specialist at  JATODynamics.



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