BYD Chairman and President, Wang Chuanfu, expressed optimism about the company’s overseas sales prospects during the annual shareholders’ meeting held recently. He highlighted that BYD’s overseas sales have been showing signs of growth, with last month’s sales reaching around 90,000 units. Wang emphasized that stable prices in overseas markets have played a significant role in enhancing the company’s profitability.
Looking ahead, Wang anticipates a continued uptrend in BYD’s overseas sales, with several international markets already exhibiting positive growth trends. The company’s future investment focus will be on localizing operations in overseas markets to leverage the increasing demand for new energy vehicles (NEVs) as they replace traditional gasoline-powered vehicles.
In May, BYD achieved a milestone by selling 89,047 vehicles overseas, marking the sixth consecutive month of record-breaking sales. This remarkable performance represented a year-on-year increase of 137.46 percent and accounted for 23.28 percent of BYD’s total monthly NEV sales. From January to May, BYD’s overseas NEV sales surged by 112.13 percent compared to the previous year.
With a target of 5.5 million vehicle sales for 2025, including over 800,000 units from overseas markets, BYD is strategically expanding its presence globally. The company is establishing passenger vehicle factories in various international locations, with current overseas sales primarily driven by exports from China.
To support its growing international operations, BYD has expanded its maritime transport capacity and operates a fleet of car carriers. The recent addition of the BYD Changsha and BYD Xi’an car carriers signifies the company’s commitment to enhancing its logistics capabilities and ensuring efficient delivery of vehicles to global markets.
In line with its expansion strategy, BYD plans to triple its dealer network in South Africa, aiming to have 20 stores by the end of this year and increase to 30 to 35 stores by 2026. This initiative underscores BYD’s commitment to strengthening its presence in key markets and catering to the growing demand for electric vehicles.
Overall, BYD’s strong performance in overseas markets, coupled with its strategic investments and expansion plans, position the company for continued growth and success in the global automotive industry.
