BYD's official sales reports and financial disclosures for 2025

BYD Leads China's NEV Market with 34.1% Share; Tesla Sells 657,102 Units in 2024, Forecasts 5.5 Million Sales in 2025

Jan 11, 2025, 02:48 PM

In 2024, BYD emerged as the leading automaker in China's new energy vehicle (NEV) market, capturing a market share of 34.1%. Tesla ranked third with a 6.0% share, selling 657,102 retail units in the country. Forecasts for BYD's growth in 2025 suggest a potential increase of 29%, with total sales projected to reach 5.5 million units. This growth is attributed to anticipated doubling of Denza sales, a 184% surge in Fang Cheng Bao sales, and a 92% rise in overseas sales, expected to reach 800,000 units. Deutsche Bank forecasts that BYD will sell approximately 5.52 million cars in 2025, including 5.1 million under the BYD brand, 250,000 under Denza, and 160,000 under Fang Cheng Bao. BYD's sales have seen remarkable growth, increasing from 436,000 units in 2020 to an estimated 4.25 million in 2024, marking a twelvefold increase in sales over the past four years.