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BYD Statistics By Sales, Revenue and Facts

Pramod PawarBy No Comments7 Mins Read
BYD Statistics

Introduction

BYD Statistics: BYD, a subsidiary of the BYD manufacturing company, has strategically shifted its focus to the production of new energy vehicles. This strategic shift, which includes battery-electric vehicles and plug-in hybrid vehicles, is a response to the global trend towards sustainability and stricter emissions regulations.

The company, founded in January 2003 following BYD’s acquisition of Xian Automobile, ceased production of internal combustion engine cars in March 2022. This shift not only aligns with BYD’s commitment to sustainability and innovation but also positions the company at the forefront of the rapidly growing electric vehicle market.

The company’s extensive vertical integration leverages BYD group expertise in producing batteries and other components in the electric motor and electronic control segment. As we delve into BYD statistics, we will uncover the growth of BYD and its emergence as a dominant force in the automotive market.

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  • BYD has been extensively working towards new energy vehicles, and around 50% of all its vehicles are expected to be electric.
  • The company’s global sale is expected to reach around 3219k by the end of 2028
  • BYD is also expanding its presence in the European market, with its sales to reach 72K by 2028.
  • BYD has witnessed a significant surge in revenue from 47 billion USD to 80 billion USD.
  • BYD is committed to environmental conservation; it can be attributed to the fact that C02 per vehicle is consistently reducing with targeted C02 levels to reach 37 grams of C02 per KM in 2028, which is appreciable.

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BYD Sales Worldwide

  • BYD’s overall revenue is projected to reach $82 billion in 2024.
  • Revenue is anticipated to grow annually by 1.32% between 2024 and 2028, resulting in a market volume of $87 billion in 2028.
  • BYD’s vehicle sales are expected to reach 3,219,000 units in 2028.
  • The majority of BYD’s revenue is expected to come from China, amounting to $82.17 billion in 2024.

byd-passenger-cars-worldwide

(Reference: statista.com)

  • According to the graph and BYD Statistics, BYD’s overall vehicle sales have significantly increased since the onset of COVID-19.
  • This growth trend is expected to continue, with sales reaching 3218.6k vehicles globally by 2028.
  • This promising growth trajectory and BYD’s market strength instill confidence in the company’s potential for future success. SUVs remain the significant share among the different categories of vehicles.

Energy Source Development Of BYD Vehicles

fuel-or-drive-type-share

(Reference: statista.com)

  • The graph shows that the popularity of electric vehicles has substantially increased over time.
  • By 2028, it is predicted that more than 50% of all vehicles produced will either be hybrid or electric. Showcasing BYD’s commitment towards environmental sustainability.

CO2 Emissions From Vehicles

(Reference: statista.com)

  • There has been a significant shift from petrol to hybrid and electric vehicles regarding the variant. This shift, which is a reflection of changing consumer preferences and a response to global environmental concerns, plays to BYD’s strengths as a leading manufacturer of new energy vehicles.
  • By 2028, around 50% of all vehicles are expected to be electric, a trend that BYD is well-positioned to capitalize on.
  • Accordingly, the introduction of electric vehicles is expected to reduce CO2 emissions consistently.
  • It is expected to be limited to 37g of Co2 per kilometer by the end of 2027, further enhancing the company’s reputation as a sustainable and environmentally responsible automaker.

revenue

(Reference: statista.com)

  • Regarding revenue, the significant share would be based on the categories of large cars and SUVs.
  • Accordingly, this trend is expected to continue until at least 2028. Since 2021, worldwide revenue has witnessed exponential growth, with growth from 14 billion in 2021 to 47 billion in 2022 and then 80 billion in 2023. After that, revenue is expected to grow steadily to reach 87 billion USD by 2028.

BYD Sales Europe

  • Revenue is expected to reach $3 million by 2024
  • If we look at CAGR between the period 2024 – 2028, it is 6.3%, showing good potential for growth.
  • The expected amount of volume weighed average price is expected to amount to USD 48k in 2024.

(Reference: statista.com)

  • As expected, BYD’s sales have been relatively lower in Europe, but they have been increasing rapidly in 2028. They are expected to reach 72k by 2028.
  • Minivans are expected to remain the significant share. From 2022 to 2028, vehicle sales are expected to go steadily.

(Reference: statista.com)

  • The revenue in the European market shows signs of stagnation, as showcased by the fact that in 2028, the revenue will remain at 3 million USD. It did show signs of growth, with revenue increasing from 1 million USD to 3 million USD in 2022.
  • Since then, the income has fluctuated between 2 million USD and 3 million USD and is expected to stabilize to 3 million USD in 2028.

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Overview

  • BYD, a major player in the global electric vehicle (EV) market, has shown significant growth and expansion in recent years. BYD statistics reveal that in 2023, the company’s revenue reached approximately $64 billion US dollars, marking a substantial increase of 38% compared to the previous year. This growth can be attributed to the rising demand for electric vehicles and BYD’s expanding market presence.
  • In 2023, BYD statistics show that the company sold around 1.86 million electric vehicles globally, capturing a market share of 22%. This impressive performance positioned BYD as a leading EV manufacturer, competing closely with other major players like Tesla. The company’s strong market position is supported by its diverse product lineup, which includes electric cars, buses, and trucks.
  • Moving into 2024, BYD is expected to continue its growth trajectory. BYD statistics project a revenue increase of 25%, aiming to reach around $80 billion US dollars. This forecast is based on the anticipated rise in EV sales, driven by global trends towards sustainability and stricter emissions regulations, which our audience should be well-informed about.
  • BYD plans to sell over 2.3 million electric vehicles in 2024, aiming for a 26% market share. This increase is expected to be fueled by introducing new models and expanding its manufacturing capacity. The company’s strategy includes tapping into new markets and strengthening its presence in existing ones, particularly in Europe and North America.
  • BYD’s commitment to innovation is evident in its substantial investment in research and development. In 2023 the company allocated approximately $2 billion US dollars to R&D, representing about 3.1% of its total revenue. This investment is set to increase by 20% in 2024 as BYD focuses on advancing battery technology and improving vehicle performance.
  • Sustainability is a core component of BYD’s strategy. In 2023, the company reduced its carbon emissions by 15%, and in 2024, it will achieve a further 10% reduction. BYD’s efforts in this area include the development of more efficient batteries and the implementation of greener manufacturing processes

Conclusion

BYD has emerged as a dominant force in the global electric vehicle market, showcasing impressive growth and a solid commitment to sustainability. The company’s strategic focus on new energy vehicles, substantial investments in R&D, and expansion into new markets position BYD for continued success. With projected revenue, sales, and market share increases, BYD is set to play a crucial role in the ongoing transition to electric mobility.

The company’s efforts in reducing carbon emissions and improving vehicle performance further underscore its dedication to innovation and environmental responsibility. As the automotive industry continues to evolve, BYD’s strong performance and ambitious targets indicate a promising future for the company in the rapidly growing electric vehicle sector.

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Pramod Pawar brings over a decade of SEO expertise to his role as the co-founder of 11Press and Prudour Market Research firm. A B.E. IT graduate from Shivaji University, Pramod has honed his skills in analyzing and writing about statistics pertinent to technology and science. His deep understanding of digital strategies enhances the impactful insights he provides through his work. Outside of his professional endeavors, Pramod enjoys playing cricket and delving into books across various genres, enriching his knowledge and staying inspired. His diverse experiences and interests fuel his innovative approach to statistical research and content creation.

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