BYD Ends 2023 As One Of The World’s Top 10 Best-Selling Brands

BYD has concluded 2023 with record-breaking sales volume, which surpasses the 3 million annual sales target and becomes the global new energy vehicle (NEV) sales champion, for the second year in a row. This year also marks BYD being listed among the global top 10 of car sales for the first time. In the Chinese market, BYD retained its position as the best-selling car brand and manufacturer.

As a recap, NEV is a vehicle segment that was formulated in China to encompass both fully electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), both of which are the only cars that BYD makes in 2023. December saw sales of 341,043 units, a 45% increase, culminating in a total of 3,024,417 vehicles sold throughout the year, a substantial 61.9% surge from the previous year.

In 2023, BYD’s international market presence surged remarkably, with exports growing by 334.2% to 242,765 units and its reach across over 70 countries on six continents. Additionally, 2023 also saw BYD completing its brand matrix. This now consisted of the Dynasty series (such as the Han and Tang), and Ocean series (such as the Dolphin and Atto 3), while the Chinese market was one of the first to see the growth and birth of BYD’s premium subbrands Denza and Yangwang.

On the other hand, a new sub-brand called Fangchengbao was created by BYD with cars that are focused on off-roading. These sub-brands will also expand to global markets and solidify BYD’s position as having one of the most extensive portfolios in the global new energy sector.

Dynasty and Ocean series achieved impressive sales of 2,877,353 units, marking a 55.3% increase from the previous year. The Denza sub-brand sold 127,840 units in 2023, with the Denza D9 emerging as the annual MPV sales champion in China.

Yangwang and Fangchengbao, both launched in 2023 and initiated deliveries in November, received excellent market responses. The Yangwang U8 flagship plug-in hybrid luxury SUV emerged as a top seller in the high-end NEV segment, while the Bao 5 established a strong foothold in the off-road segment.

From leading China’s NEV market to becoming the top global NEV seller, and now ranking among the top ten in the global automotive industry, BYD has showcased the vast potential of the new energy sector.