Korean media: "Is this car only selling well in China?" BYD surpasses Tesla in Europe!
On September 10, Korean media outlet Asia Economic Daily published an article stating that BYD's sales in Europe this year have already exceeded those of Tesla. According to market research firm SNE Research, BYD sold 39,000 units in Europe in June, a year-on-year increase of 60%; cumulative sales for the first half of the year reached 185,000 units, surpassing Tesla's 172,000 units. From January to May this year, Chinese brands' market share in Europe significantly rose from approximately 11% last year to about 17%, with BYD's market share estimated at around 7%.
BYD’s growth in South America has also been remarkable. In July, its sales in Brazil reached 23,000 units—more than double the 9,680 units sold during the same period last year—and the company ranked fourth in the new car market with a 9.1% market share.
BYD is increasing its overseas sales ratio, focusing on expanding into European and South American markets. The overseas sales ratio rose from 22.5% in the second quarter of last year to 42.5% in the second quarter of this year. Among total overseas sales, Europe's share increased from 31% last year to 35% this year, while South America's share grew to 24%.
Hyundai Securities stated: "We expect BYD's revenue and net profit in the second quarter to grow by 8% and 30% respectively compared to the same period last year, ending three consecutive quarters of negative growth and achieving positive growth. This is due to the company’s continuous efforts over the past year to normalize channel inventory and optimize product mix, leading to a gradual recovery in profitability."
Original source: toutiao.com/article/1875930231818250/
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