In the past 2023, BYD won the "title defense" of the sales championship in China's auto market, and won it very neatly and beautifully.
In 2023, BYD will exceed the annual sales target of more than 3 million vehicles, which not only means that BYD has surpassed the previous year, but also completed an all-round lead in the industry for the first time, becoming the absolute industry champion. BYD's sales in 2023 increased by 61% year-on-year9%, surpassing Tesla's 1.86 million units, becoming the absolute leader in leading the industry.
Subsequently, BYD's profit data for 2023 is even more eye-catching - the net profit attributable to shareholders of listed companies in 2023 is expected to be 29 billion yuan to 31 billion yuan, an increase of 74% over the same period last year46%-86.49%, net profit soared by 70% year-on-year, which means that BYD has walked out of the haze of "increasing revenue but not increasing profits". In terms of gross profit margin, BYD has even surpassed Tesla, reaching more than 18%.
Behind the dazzling sales and profits, BYD has shown good results in many aspects and has become a proper "multi-crown champion". For example, BYD's ability to cover high, medium and low brands will also be significantly improved in 2023, and Denza, Equation Leopard, and Yangwang will gradually begin to cover the high-end markets that were previously difficult for BYD to reach, and set up new benchmarks in these markets. The ultra-high-end brand with a unit price of more than one million yuan looked up to and reached a record of 1,500 monthly sales in December last year, which is a strong proof of this.
In addition, BYD's achievements in going overseas are also becoming more and more eye-catching. Since 2023, BYD has entered 19 European countries with 5 models, and has opened more than 230 overseas stores. For the whole year of 2023, BYD's auto exports totaled 2430,000 units, a year-on-year increase of 3342%, which has now covered more than 70 countries and regions on six continents.
The new year has kicked off, and it should not be difficult for BYD to "defend the title" again. And BYD, as the absolute leader of Chinese brands, can achieve higher achievements in 2024? It is the focus of the industry's attention - the following five conjectures about BYD, some of which are based on public information at this stage, are high probability events to become reality; Although some of them have not yet "had a spectrum", they are entrusted with our good wishes for BYD.
Guess 1: Sales exceeded 4.5 million units.
From 2008 to 2022, BYD's previous "3 million" took 14 and a half years; From 2022 to 2023, BYD only took a little more than a year to complete the second 3 million - you know, in 2021, when BYD has already gained momentum, its annual sales are only 740,000 units. In 2021, 740,000 units were sold, an increase of 733%；In 2022, sales will be 1.86 million, an increase of 1525%；In 2023, sales will be 3.02 million, an increase of 619%。In the past three years, when the global auto market was not sluggish, BYD has become the only car company in China and even the world that still maintains rapid growth despite high sales.
3.02 million units, which is also an unprecedented performance of Chinese car companies. With this achievement, BYD not only won the No. 1 sales in China's auto market1 The champion has also entered the list of the top 10 sales in the global auto market, and has surpassed Tesla to become the global new energy vehicle sales champion.
Standing on the high foundation of 2023, BYD has set a sales target of 4.5 million to 5 million units for 2024, and if it is calculated at 4.5 million units, BYD will sell at least 3750,000 units.
For the current BYD, there are opportunities, but at the same time, there are difficulties. According to BYD's current volume, a few models such as Dynasty Network and Ocean Network and Denza D9, which were previously responsible for sales, have actually come to the "ceiling" of their respective market segments, and it is difficult for them to achieve greater sales breakthroughs in the Chinese auto market as a whole - Equation Leopard and Yangwang, which will be delivered at the end of 2023, are expected to boost BYD's overall sales, but in terms of their brand positioning, they are not in the "volume" market segment. Especially looking up, its price of up to one million is obviously more important to serve as a high-end benchmark for BYD Group, enhancing brand value, rather than increasing sales.
But overall, BYD will complete the target of 4.5 million in 2024, and even 5 million is still promising. Judging from the sales data in January, BYD still maintained strong growth. BYD's sales reached 20 in January10,000 units, a year-on-year increase of 339%。If BYD can achieve greater sales growth with the new model in the middle of the year, it is also very likely that BYD will achieve sales of more than 5 million units in 2024.
Conjecture 2: A number of new cars have become popular.
What kind of height BYD's sales can reach in 2024 is an important basis for BYD's new cars to be launched in 2024. In 2024, BYD has planned a number of new cars, and whether these models can continue BYD's strong performance in the past few years and become the "hot models" in their respective market segments is the key to BYD's overall performance in 2024.
On February 19, the tenth day of the Lunar New Year, the atmosphere of the Year of the Dragon has not faded. BYD launched a blockbuster model to the market, opening the first wave of offensive in the Year of the Dragon in the lunar calendar - Qin plus Glory Edition and Destroyer 05 Glory Edition were officially launched, with an official guide price of 7Starting at CNY 980,000, the price range of the DM-i model is 798-12.It costs CNY 580,000 and is priced at 10 percent for the EV version98-13.980,000 yuan. BYD said: On the surface, it is the first battle of products, but it is actually the system war of the whole industry chain. The Honor Edition has achieved that the DM plug-in hybrid is lower than that of fuel vehicles, which is a milestone in the history of the development of the automotive category and has also become a "watershed in the development of fuel vehicles and electric vehicles".
In 2023, as the best-selling plug-in hybrid model in China, the Qin PLUS DM-i model will sell a total of 30980,000 units. At the beginning of 2024, BYD will attack with a more subversive **, and its sales will naturally be more predictable.
Qin plus glory version and destroyer 05 glory version are just "head guns", and BYD will have multiple "killer moves" in 2024.
Following the BYD Song L, BYD will continue the "L" series in the dynasty family this year, and new cars such as Qin L, Tang L and Han L will be launched, while the Yuan Cross and Yuan UP based on the Yuan, and the new Tang MAX based on the Tang also have relevant information ** - among them, based on the E platform 3The 0 built Yuan UP, with a stylish design style and a certain off-road temperament, is considered to make a difference in the small SUV market.
As for the ocean network series, seals and seagulls have formed a relatively stable sales position in the small pure electric vehicle market, Song L's sister model Hiace 07 will be launched in the first half of this year, referring to Song L's monthly sales of more than 10,000 results, Haishi 07's monthly sales are also worth looking forward to, and it is expected to expand BYD's territory.
BYD's experience shows that only with deep insight into user needs can we form a large product appeal and then harvest the market. Based on this, BYD has gradually completed the planning and layout of the BYD brand (Dynasty, Ocean), DENZA brand, Yangwang brand and Equation Leopard brand. While consolidating the foundation of Dynasty Network and Ocean Network, DENZA has maintained a relatively stable performance, and Yangwang and Equation Leopard have also begun to increase rapidly - in 2024, Formula Leopard Leopard 8 is the focus of attention, based on BYD's new DMO super hybrid off-road platform, it is positioned as a large hard-core off-road SUV, with a huge size and spacious space of three rows and seven seats, and is also equipped with a hybrid four-wheel drive system and advanced chassis control system, which is likely to become a new explosive model.
Conjecture 3: The process of intelligence is accelerating.
In addition to new products, BYD values intelligence more. In 2024, BYD's intelligent process will continue to accelerate, which is hardly a "conjecture", but a "fact" that will happen.
Today, BYD has 11 research institutes, has applied for more than 40,000 patents worldwide, and has obtained more than 2 authorized patents80,000 items, laying a solid foundation for the development of new energy technology, and launching blade batteries, DM-i super hybrids, and e-platform 30. CTB battery body integration and other technologies, covering a variety of models of BYD's four major brands. In 2023, with the debut of the Yangwang brand and the Equation Leopard brand, BYD has launched disruptive technologies such as the stunning Yi Sifang, Yunyuan system, and DMO super hybrid off-road platform.
However, in the field of intelligence, BYD does not have decisive technology, nor does it have obvious advantages over competing products - it is undeniable that BYD is still a certain distance from the first echelon in high-end intelligent driving, but BYD has laid a good foundation for electrification, and the next step to develop high-end intelligent driving is also more confident.
The first half of the competition in the automobile market is electrification, and the second half is intelligence", BYD's declaration is loud. A few days ago, BYD released a series of technical achievements such as vehicle intelligence and Xuanji architecture, and will launch more than 10 high-end intelligent driving models equipped with lidar this year, which will be open for models of more than 200,000 yuan in the future, and models of more than 300,000 yuan will be fully standard. What is certain is that 2024 will be a big year for BYD's intelligent driving, and BYD's high-speed NOA technology has been pushed on the DENZA N7 - on the expressway, in the case of construction cone barrel sections, DENZA high-speed NOA can initiate lane changes in advance, actively avoid risks or brake in the lane. More models equipped with new intelligent driving functions are also planned to be launched this year.
Before the industry ushered in new development opportunities, BYD, which is close to many technologies, tried to break the solidified thinking that intelligent vehicles are equal to intelligent cabin intelligent driving, redefined automobile intelligence, and shouted the slogan of "vehicle intelligence is true intelligence". In terms of intelligent architecture, BYD proposed the industry's first intelligent and electric integration architecture - Xuanji, which provides a solid foundation for the intelligence of the whole vehicle. Xuanji endows the vehicle with the intelligent "brain" and "neural network", and each system works together to make driving safer, more efficient, and more humane.
In addition, BYD has also innovatively launched the industry-leading dual-cycle multi-modal AI - Xuanji AI large model, which deeply integrates AI technology into all aspects of the vehicle and provides technical support for the continuous evolution of vehicle intelligence. Different from conventional industry AI, the Xuanji AI model applies artificial intelligence to all fields of the vehicle for the first time in addition to intelligent cabin and intelligent driving, covering more than 300 scenarios of the vehicle, creating infinite possibilities for the development of intelligent vehicles. Based on BYD's No. 1 ownership in the new energy vehicle industry, the Xuanji AI model has the largest data base in the industry. The training sample size and high computing power far exceed the industry level, making the operation more accurate and faster, infinitely close to the actual application scenarios of users.
Conjecture 4: Pure electric supercars open the "CDM era".
For fans of JDM models, those authentic Japanese performance cars not only have excellent performance, but are also full of feelings. When China has reached a new height, China's own "CDM era" may be opened by BYD in 2024.
The "CDM prologue" is also written on a new BYD car that will be launched in 2024 - Yangwang brand's pure electric sports car and Yangwang U9.
Like the Yangwang U7, the Yangwang U9 is also built on the Yi Sifang platform. As an all-electric supercar, the U9 is driven by four motors, with a maximum horsepower of 1,306 hp and a 0-100km h acceleration of 2 seconds. The chassis is supported by Yunnan-X technology. Looking up at the U9 when it was unveiled, it has been planted in the hearts of countless people, and its official launch in 2024 is not only expected to open a new chapter for BYD, but also may open a new era for China.
Looking up U9 adopts the family design language of the Gate of Time and Space and the iconic C-shaped headlights, which makes the front face highly recognizable. Its unique butterfly door design underlines its supercar identity. According to the information in the new car declaration catalogue of the Ministry of Industry and Information Technology, the body length of the U9 is nearly 5 meters, and it adopts a two-door two-seat layout. The wheel sizes are 275 35 R21 and 325 30 R21 and are available in a variety of colour calipers, with a carbon fibre roof as standard, a diffuser at the rear and an optional electric rear wing for added personality. The U9 will also be equipped with the BYD Yunlin-X chassis system, which can drive smoothly on three wheels.
Looking up to the U9 is not just a car, it is a declaration of BYD for the future. It represents the courage, innovation and pursuit of excellence in China's manufacturing industry. In the days to come, it is destined to become a bright spot in the new era of motorsports. After decades of market precipitation, from R&D to manufacturing, from technology to cultural multi-dimensional construction, in 2024, Chinese automobiles have reached the critical point of achieving a leap, and the "singularity" to achieve a breakthrough may be to look up to U9.
Looking up to the U9 not only has the potential to completely rewrite the supercar logic in the name of electrification, but also has great hope to help BYD achieve a brand leap again. If Yangwang U8 has laid a bridgehead for Chinese cars in the million-level hard-core off-road vehicle market, then Yangwang U9 will once again plant a red flag for Chinese cars in the supercar market.
It is worth mentioning that the first model of the Yangwang brand, the Yangwang U8, achieved sales of 1,593 units in its first full delivery month, which not only refreshed the monthly sales record of million-level cars of its own brand, but also officially entered the top 10 million-level car sales monopolized by overseas auto brands for a long time.
Looking up to U9, will it continue to be so applauded and popular? We are confident in this.
Conjecture 5: New cooperation opens up global hegemony.
In 2021, BYD officially announced the "Passenger Car Going Overseas" plan, accelerating its layout in overseas markets. Up to now, BYD's cars have been sold to more than 70 countries and regions on six continents. For the whole year of 2023, BYD's auto exports totaled 2430,000 units, a year-on-year increase of 3342%。
In 2024, BYD's overseas business is expected to usher in rapid development in Europe, Southeast Asia, Australia and New Zealand, and its export volume is expected to reach 500,000 units or higher in 2024.
At the end of last month, BYD and the city of Szeged, Hungary** officially signed a land pre-purchase agreement for BYD's Hungarian passenger car factory, which is BYD's first European new energy passenger car factory, marking a new substantive breakthrough in BYD's localization process in Europe. Wang Chuanfu, Chairman and President of BYD, said, "Through localized manufacturing, BYD will accelerate the creation of products with European localized brand attributes, form closer business exchanges and complementary cooperation with Europe, and jointly promote the green and low-carbon transformation of the industry and global sustainable development."
In the global market, in the first half of 2023, BYD became the first Chinese brand in China to enter the top 10 in world sales in 70 years, and officially surpassed Suzuki Group to rank ninth in global sales at the end of the year. Throughout the year, BYD's exports exceeded 2430,000 units, a year-on-year increase of 3342%。
The world's No. 1 brand influence in new energy sales and the overall leading strength of technology have made BYD recognized and supported by overseas leading dealers, accelerating the pace of BYD's global development. BYD's new energy passenger vehicles are accelerating into more than 50 countries and regions such as Japan, Germany, Australia, Brazil, and the United Arab Emirates, and the sales of many models are growing rapidly.
In China's current auto market, broader and deeper Sino-foreign cooperation has become a major trend. In 2023, the cooperation between Volkswagen and Xpeng, Audi and Zhiji will make Chinese brands become the "exporters" of technology for the first time. In the past 20 years, BYD has almost always been "fighting alone", winning the current "status of the rivers and lakes" by virtue of self-reliance, and at the same time, it also has the advantage of technology that can be used on a global scale. As BYD continues to attack the global market, we boldly guess that BYD in 2024 may reach a cooperation with a global brand to accelerate its process of becoming a global car brand.
Epilogue. Which of the above five conjectures can eventually become reality? We'll see.