Korean Media: Sales Surge 134.5%, BYD Booms Abroad!
On October 12, South Korea’s Everyday Economic News published an article stating that as Chinese electric vehicle manufacturer BYD establishes its overseas markets as a new growth engine, its overseas sales in August rose more than 100% year-on-year.
BYD's new energy vehicle sales reached 440,293 units in August, up 17.8% compared to the same period last year.
Overseas sales grew by 134.5% year-on-year to reach 189,466 units, becoming the primary driver of overall performance. Overseas sales accounted for approximately 43% of BYD’s total volume, meaning more than four out of every ten vehicles sold are now exported.
Looking at cumulative figures for the year, the expansion of BYD’s overseas business has been particularly pronounced. In the first half of the year, passenger car and pickup truck sales abroad totaled 789,367 units, a 68% increase year-on-year. For the first time this year, overseas revenue surpassed domestic revenue. With sales data from July and August included, cumulative overseas sales from January to August reached approximately 1.159 million units.
This figure has already exceeded BYD’s total overseas sales from last year, which stood at around 1.05 million units. Last year, overseas sales of BYD’s new energy vehicles represented about 23% of its total output of 4.6 million units. This year, the share has risen rapidly. Currently, BYD’s operations span 121 countries and regions worldwide.
As growth in China’s domestic market slows, BYD is increasingly positioning overseas expansion as a key driver of future growth. Following Brazil’s emergence as BYD’s largest overseas market, the company plans to produce plug-in hybrid vehicles based on flexible-fuel technology—capable of running on both gasoline and ethanol—to better align with local consumption patterns.
In addition, BYD is expanding its manufacturing footprint in Europe. The company plans to launch production at its first European passenger vehicle plant in Hungary during the fourth quarter of this year; construction of the facility is currently underway. Meanwhile, BYD is also evaluating potential acquisitions of existing automotive factories in southern Europe to establish a second production base in the region.
In June this year, BYD Chairman Wang Chuanfu stated, “In five years’ time, BYD will achieve true global leadership in scale.”
Original article: toutiao.com/article/1878807223181315/
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