BYD’s record-breaking 12 months is paying dividends. Regardless of its autos promoting for lower than $17,000 on common, BYD topped Mercedes-Benz and Volkswagen, rating first in automobile gross sales income in China final 12 months. After taking the market by storm in 2024, the world’s largest EV maker goals for much more progress this 12 months.
BYD ranked first in automobile gross sales income in China in 2024
BYD capped off a formidable run in 2024, promoting over 500,000 autos for its third straight month in December. The year-end gross sales push bumped BYD’s complete passenger automobile gross sales to over 4.25 million passenger autos final 12 months, up 41% from about 3 million in 2023.
After topping Volkswagen to turn into China’s largest automobile maker in 2023, BYD grew to become the nation’s largest auto group in October 2024, surpassing SAIC. SAIC has joint ventures with Volkswagen and GM.
Not solely is BYD promoting extra automobiles than its abroad rivals, it’s additionally making extra on automobile gross sales. In keeping with China’s Sina Finance (through CarNewsChina), BYD ranked first amongst automakers in China in automobile gross sales income final 12 months.
BYD bought 3.49 million autos in China, producing 420.7 billion yuan, or round $58 billion. Mercedes-Benz was second, with 710,000 automobiles bought for 307.9 billion ($42.5 billion) in income.
Volkswagen positioned third with 2.1 million autos bought in 2024 and 303.2 billion yuan ($41.9 billion) in gross sales income.
Probably the most fascinating half is that BYD’s common promoting worth (ASP) per automobile was simply $16,700 (121,000 yuan), in comparison with Mercedes-Benz’s $59,500 (430,000 yuan) and Volkswagen’s $19,700 (143,000 yuan).
| Rating | Automaker | Common Automobile Promoting Worth (*USD) |
Automobile Gross sales Income (*USD) |
| 1 | BYD | $16,700 | $58.1 billion |
| 2 | Mercedes-Benz | $59,500 | $42.5 billion |
| 3 | Volkswagen | $19,700 | $41.9 billion |
| 4 | Toyota | $23,300 | $36.7 billion |
| 5 | BMW | $46,900 | $32.7 billion |
| 6 | Tesla | $33,800 | $22.3 billion |
| 7 | Aito | $55,500 | $21.4 billion |
| 8 | Li Auto | $42,000 | $21.1 billion |
| 9 | Honda | $20,800 | $17.8 billion |
| 10 | Geely | $12,700 | $13.2 billion |
BYD beat out Mercedes-Benz, Volkswagen, Toyota, BMW, and Tesla even with a considerably decrease common promoting worth.
Electrek’s Take
After BYD stopped making absolutely gas-powered autos in 2022, the corporate has turn into a pressure within the auto market. With over 1.76 million EVs bought in 2024, BYD ranked second, barely behind Tesla, which delivered over 1.78 million autos.
Regardless of this, BYD was the “world’s high EV maker,” beating out Tesla with about 4,500 electrical automobiles produced in 2024.
With China changing into saturated with home rivals, BYD is aggressively increasing abroad to drive progress in 2025. Final 12 months, it bought extra EVs in Japan than Toyota, and it was BYD’s first full gross sales 12 months within the nation.
BYD was Singapore’s best-selling automobile model final 12 months, the primary Chinese language automaker to realize this feat. With plans to quickly develop in Europe, Central and South America, and different key areas, BYD is poised to see much more progress in 2025.
Though it’s greatest identified for low-cost electrical automobiles, just like the Seagull, which begins at below $10,000 in China, BYD is rapidly increasing its lineup with new pickup vans, sensible SUVs, off-road fashions, and electrical supercars rolling out.
Earlier this month, it launched the world’s largest automobile provider, which is able to ship as much as 9,200 autos abroad as BYD prepares for one more large 12 months in 2025.
Supply: CarNewsChina, Sina Finance
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