- Denza is targeting sales of more than 300,000 units in 2025, implying a 138 percent growth, according to a local media report.
- New vehicles on Denza's exclusive e3 platform will be rolled out gradually and will help sales, according to the report.
BYD's (HKG: 1211, OTCMKTS: BYDDY) premium sub-brand Denza reportedly has an ambitious 2025 sales target, after a lackluster 2024.
Denza is targeting sales of more than 300,000 units in 2025, local media outlet AutoPix said in a report today, citing people familiar with the matter.
The brand sold 126,035 units in the full year 2024, down 1.41 percent from 127,840 units in 2023, according to figures released earlier this month.
If that target is true, it would mean that Denza would like to see a 138 percent increase in sales in 2025 from 2024.
Denza currently sells the N7 SUV (sport utility vehicle), the Z9 sedan, the Z9GT hatchback, and the D9 MPV (multi-purpose vehicle).
Its sales come mainly from the D9, the MPV model that sold 92,945 units in 2024, contributing 83.75 percent of the year's sales, according to data compiled by CnEVPost.
In a January 11 research note, Deutsche Bank analyst Wang Bin's team expects BYD Group to sell 5.52 million vehicles in 2025, including 250,000 from Denza.
At the beginning of 2024, Denza's head of sales, Zhao Changjiang, said the brand's sales target for 2024 was 200,000 units, AutoPix's report noted.
However, the brand later sharply lowered its full-year target and ended up with higher sales than the lowered target, the report said, citing an unnamed Denza executive.
Denza's main sales models for 2024, the D9, N7 and N8, are mainly based on BYD's e-Platform, and sales will be helped by the gradual roll-out of new vehicles on the brand's proprietary e3 platform this year, the report noted.
The e3 technology can be seen as a scaled-down version of BYD's e4 technology built for ultra-luxury cars, based on the Xuanjian architecture, which brings tri-motor independent drive with dual-motor independent steering at the rear wheels.
The Z9GT, which officially went on sale on September 20, 2024, is the first model based on the e3 platform. The Z9, which was launched on November 15, is also based on this platform.
The new Denza N8 will switch to the e3 platform and will go into production in the middle of this year, with a launch expected in the second half of the year, according to AutoPix.
The Denza N8 went on sale on August 5, 2023, but the Denza website did not continue to show the model for most of 2024.
In an open letter on January 1, Zhao said the Denza N9 SUV will go on sale in the first quarter. The large six-seat hybrid entered a regulatory catalog from China's Ministry of Industry and Information Technology last October.
Denza will also launch a new MPV model in 2025 that is larger and more powerful than the D9 MPV currently on sale, Zhao said, according to Zhao's open letter.
BYD Denza to launch N9 SUV in Q1, new MPV to follow, exec says