Annual sales numbers for BYD in recent years show a quite stunning rise in volume. Strong growth in China’s domestic market and well-received models at attractive prices have been key factors in the company’s growth over the past two years. In China, BYD and Tesla have been in a price war. BYD hit 3 million units in 2023 (December saw sales of 341,000 units, a 45-per-cent increase on a year earlier) after 1.88 million units in 2022.
BYD now lead the market in China, and also are gaining traction in export markets. Europe is next with a European manufacturing strategy evolving, as previously reported in DVN.
