BYD is on track to surpass Ford and Honda in sales

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BYD is on track to surpass Ford and Honda in sales

By admin, Aralık 9, 2024

BYD is on track to surpass Ford and Honda in sales





BYD is on track to surpass Ford and Honda in sales



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China’s largest electric vehicle manufacturer BYDcontinues to exceed its sales targets set for 2024 and achieve global Ford ve HondaHe is getting ready to leave behind. With the announcement of sales data for November, it is predicted that BYD will continue its rise in the global automobile market.

Automotive giants are falling behind in the competition

BYD, which attracted attention with its rapid expansion throughout the year, took over the industry leadership after Tesla by increasing its production capacity and initiating a major recruitment process. BYD, driven by strong sales in China, year 2024 targeted for 4 million vehicles exceeding sales 2025 until the year 5-6 million vehicles is on its way to achieving its production target. In this context, BYD Auto, founded in 2003, will surpass Japanese Honda, founded in 1948, and US-based Ford, founded in 1903, in worldwide sales.

In the first 11 months of 2024 3.76 million vehicles BYD delivers only November month 506.804 showed an impressive performance by selling vehicles. This performance shows that the company will exceed its target in December. It is stated that the company has reinforced its leadership in the Chinese market, especially with its models with new generation plug-in hybrid technology.

BYD will continue to grow




BYD is on track to surpass Ford and Honda in sales



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According to data from the China Passenger Car Association (CPCA), BYD’s share in the Chinese automobile market increased from 12.5 percent in 2023 to 16.2 percent. During the same period, the market share of Volkswagen’s two major Chinese joint ventures decreased from 14.2 percent to 12.5 percent.

If BYD maintains this sales momentum, it will be able to sell over 6 million vehicles in the next 12 months and General Motors with Stellar In the same league with giants like It is estimated that it may take place. After a meeting with the company’s management, Citi analysts confirmed BYD’s target to deliver 5-6 million vehicles for 2025.

The company accelerated its growth by adding 200,000 units to its production capacity and hiring approximately 200,000 new employees during the August-October period. Total as of September The number of employees is approaching 1 million BYD had approximately 703,500 employees at the end of 2023. Turning the competitive price wars in China to its advantage, BYD reduced its costs by taking advantage of economies of scale and demanded price discounts from its suppliers. This strategy further deepens the difficult situation of many foreign automakers in the Chinese market. For example, General Motors announced a loss of more than $5 billion due to the restructuring and impairment of its Chinese operations.

























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