BYD, a leading Chinese electric vehicle manufacturer, has set an ambitious sales target for 2025. According to local media reports, the company aims to sell 5.5 million vehicles, including over 800,000 units in overseas markets. This target represents a significant increase from the 4,272,145 vehicles sold in 2024, with an overall growth rate of about 29 percent.
The company’s chairman and president, Wang Chuanfu, revealed this target during a recent meeting. It is worth noting that BYD has consistently exceeded its sales targets in recent years, with the internal target being even higher than the external one. In 2025, BYD plans to launch nearly 20 new models across its four automotive brands: BYD, Denza, Yangwang, and Fang Cheng Bao.
The BYD brand, which includes the Dynasty and Ocean series, aims for a sales growth rate of less than 10 percent in 2025. These two series currently account for about 80 percent of BYD Group’s total sales. To achieve its target, the Dynasty series will focus on expanding sales channels and increasing the exhibition hall area.
In contrast, the higher-end sub-brands, such as Yangwang, Denza, and Fang Cheng Bao, are expected to achieve higher sales growth rates. Denza, for example, targets monthly sales of 20,000 units by the second quarter and 30,000 units in the third and fourth quarters. In 2024, Denza sold a total of 126,000 units.
The competition in the high-end market is intense, with a strong emphasis on technology, intelligence, and brand value. BYD, known for its engineering culture, may face challenges in this arena. High-end brands must convince customers to pay a premium for their products, which requires a deeper understanding of consumer preferences and market trends.
Despite these challenges, BYD has been gaining recognition for its electric vehicles and innovative technologies. JPMorgan recently raised its sales forecast for BYD in 2026 to 6.5 million units, suggesting that the company could become a dominant player in the global electric vehicle market, akin to Toyota in the traditional automotive industry.
Overall, BYD’s ambitious sales targets and continuous innovation efforts position the company as a key player in the rapidly evolving electric vehicle market. With a strong focus on product development and market expansion, BYD is poised to achieve its long-term growth objectives and establish itself as a leader in the electric vehicle industry.
