- BYD's sales target for 2025 is 5.5 million vehicles, including more than 800,000 in overseas markets, according to local media.
- BYD's brand sales growth target is within 10 percent, and the other three higher-end sub-brands target higher growth rates.
BYD chairman and president Wang Chuanfu announced in a small group today that the company's car sales target for 2025 is 5.5 million units, including more than 800,000 in overseas markets, according to a report by local media LatePost.
Compared to the 4,272,145 vehicles sold in full year of 2024, the overall target represents an increase of about 29 percent. The overseas sales target represents an increase of 92 percent compared to 417,204 in 2024.
BYD employees and dealers may receive more aggressive sales targets, LatePost noted.
The company usually sets two sales targets, internal and external, of which the external target is conservative and were exceeded every year after 2021, while the internal target is usually higher, the report said.
2025 is a big year for BYD's products, with nearly 20 new models to be released across its four brands, according to the report.
It already has 21 models, which will be updated and added to smart driving versions to improve competitiveness, the report said, adding that in March alone, BYD held six new car launch events.
Earlier today, BYD launched the Sealion 05 EV compact electric SUV. Two days ago, BYD launched the Qin L EV electric sedan.
BYD Group has four automotive brands under its umbrella: BYD, Denza, Yangwang, and Fang Cheng Bao.
BYD brand models include the Dynasty series and the Ocean series, both of which have a sales growth target of less than 10 percent in 2025. Their combined contribution to BYD Group sales will decrease to about 80 percent, according to LatePost.
In order to achieve its goal, the Dynasty series will increase investment in sales channels and expand the exhibition hall area, the report said.
In 2024, the Dynasty series sold 2,098,035 vehicles, a year-on-year increase of 31.44 percent, contributing 49.11 percent of BYD Group's sales, according to data compiled by CnEVPost.
The Ocean series sold 1,946,528 vehicles in 2024, a year-on-year increase of 52.16 percent, contributing 45.56 percent of BYD Group's sales.
The higher-end Yangwang, Denza, and Fang Cheng Bao brands need to shoulder a higher sales growth, LatePost said.
Denza sales general manager Zhao Changjiang said he hoped the Denza brand would achieve monthly sales of 20,000 units by the second quarter and 30,000 units in the third and fourth quarters, according to the report.
Denza sales in 2024 were 126,000 units, an average of 10,500 units per month, the report noted.
The high-end market's current technological competition focuses on intelligence and AI, and also places a higher value on the brand itself. However, these are not the comfort zones of BYD, which emphasizes an engineer culture, LatePost said.
The essence of a high-end brand is to persuade users to pay a higher premium than the value of the product, which requires longer cycles and more multidimensional capabilities, the report said.
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