- Deutsche Bank forecasts the BYD brand to sell 5.1 million cars in 2025, Denza brand at 250,000 and Fang Cheng Bao at 160,000 cars.
- The team also forecasts BYD's 2025 sales in overseas markets to be 800,000 units, up 92 percent year-on-year.
Deutsche Bank expects BYD Group to sell 5.52 million vehicles for the full year 2025, up 29 percent year-on-year.
Analyst Wang Bin's team said in a research note today that they expect the BYD brand to sell 5.1 million units in 2025, up 25 percent year-on-year,
They project Denza brand sales of 250,000 units in 2025, up 100 percent year-on-year, Fang Cheng Bao brand sales of 160,000 units, up 184 percent year-on-year, and Yangwang brand sales of 7,500 units, flat year-on-year.
The team also expects BYD's 2025 sales in overseas markets to be at 800,000 units, up 92 percent year-on-year.
Figures released earlier this month showed that for the full year 2024, BYD Group's new energy vehicle (NEV) sales were 4,272,145 units, up 41.26 percent year-on-year.
The group sold 417,204 units overseas for the full year 2024, up 71.86 percent year-on-year.
The BYD brand sold 4,044,563 NEVs in 2024, up 40.66 percent year-on-year. The Denza brand sold 126,035 vehicles in 2024, down 1.41 percent year-on-year.
The Fang Cheng Bao brand, which started delivering vehicles in November 2023, sold 56,388 units in 2024. The Yangwang brand, which also started delivering vehicles in November 2023, sold 7,454 units in 2024.
This week, the BYD Dynasty lineup launched its ultra-large plug-in hybrid MPV (multi-purpose vehicle) model, the Xia (codenamed MC), at a competitive price of RMB 250,000 ($34,100) to RMB 310,000, Wang's team noted.
BYD Ocean lineup is set to launch as a sister ultra-large-size MPV product, codenamed MK, later this year, according to Deutsche Bank.
The team expects the two ultra-large-size MPV products to collectively contribute to monthly sales of 8,000 units, or an annualized 100,000 units each year.
Meanwhile, BYD plans to launch the Tang L ultra-large-size SUV (sport utility vehicle) and Han L ultra-large-size sedan in the first quarter of 2025, the team said.
These models are BYD's latest move to boost its overall product portfolio in the entry-level, ultra-large-size, and high-priced product segments, Wang's team wrote.
BYD launched the Xia MPV on January 8, the first model in its all-new Xia family.
A regulatory filing catalog published by China's Ministry of Industry and Information Technology (MIIT) yesterday included the Tang L and Han L, with information suggesting that both models will be available in variants equipped with powerful electric motors.
Deutsche Bank expects BYD to add autonomous driving capabilities to all products in its portfolio in 2025.
The team expects BYD to include highway NOA (Navigation on Autopilot) in products priced below RMB 200,000, and urban NOA in its high-priced products priced above RMB 200,000.
($1 = RMB 7.3327)
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