At the beginning of the Year of the Dragon, BYD was like a tiger out of the cage, with the "Glory Edition" series of blockbuster attacks, and joint venture fuel vehicles head-to-head, instantly set off a "** in the industry is generally in trouble with joint venture fuel vehicles, BYD's brave move can't help but make people wonder: what kind of confidence makes BYD dare to act so boldly at the beginning of the new year?
Looking back on 2023, BYD's performance can be called brilliant. 3.02 million vehicles were sold throughout the year, which not only helped Chinese car companies to top the Chinese auto market again after 39 years, but also won the honor of new energy sales champion in the world. For every three new energy vehicles sold, one is BYD's, and its market share is huge, which can be seen.
On the global stage, BYD also shines. In the fourth quarter of 2023, its pure electric sales surpassed Tesla and topped the global electric vehicle sales list. What's more worth mentioning is that BYD surpassed Suzuki Group in annual sales, ranking ninth in global car sales, and becoming the first and only Chinese brand in the top 10 of the global car company sales list in the 70 years of China's development. What is particularly rare is that in the top 10 of the global car company sales list, BYD is the only car company with a continuous growth in market share, which is enough to prove its strength as the "top BYD in all departments".
This strength and self-confidence are not unfounded. In 2023, a number of BYD's star models will win sales champions in various market segments, such as mainstream family models such as Yuan Plus, Song Plus, and Qin Family, all of which are leaders in the market. In addition to the prosperity and development of the domestic market, BYD's expansion in overseas markets is not inferior. In 2023, its annual exports will increase by 334% year-on-year, making it the fastest-growing automaker among the top 10 global brands in terms of export sales.
The reason why BYD can stand out in the fierce market competition is its strong technical strength and cost control ability. With 11 research institutes and more than 90,000 engineers, the "technology fish pond" has invested more than 100 billion yuan in R&D, and has applied for more than 4 patents80,000 items, behind these figures, is BYD's unremitting pursuit and investment in technology research and development. In 2023, BYD will release a number of disruptive technologies such as Yi Sifang, Yunlin, and DMO, with an average of 27 patent applications per day, demonstrating its strong technological innovation capabilities.
In addition, BYD has also achieved excellent cost control capabilities through vertical integration advantages, and even leads Tesla in some aspects. Its unique strategy of "oil and electricity at the same price" and the current strategy of "electricity is lower than oil" not only grasps the initiative of product pricing, but also reflects its advantages and scale effect of the whole industry chain.
BYD's strategic vision is also commendable. With the establishment of multi-brand matrices such as Dynasty, Ocean, Denza, Yangwang, and Equation Leopard, BYD has quickly completed full coverage from household to luxury, from mass to personalization, and has met the diversified car needs of the market and users. This forward-looking strategic layout has undoubtedly won the market opportunity for BYD.
As sales continue to climb, BYD's international reputation is also rising. In the "2023 Industry List Top 10 Automobiles", BYD's ranking rose 2 places to 6th; In the list of "2023 Fortune 500", its ranking jumped 224 places to 212th; In the list of "2023 Top 500 Global Brand Value", BYD's ranking has also improved significantly. Behind these honors is the result of BYD's unremitting efforts, and it is also the market's recognition of its status as "BYD the champion of all disciplines".
With the honor of the global sales champion and the steady improvement of brand value, BYD launched a series of new models at the beginning of the new year, such as Qin PLUS Glory Edition, Destroyer 05 Glory Edition, Hantang Glory Edition, Dolphin Glory Edition, Song PLUS Glory Edition, Seal DM-i Glory Edition, Song PRO DM-i Glory Edition, etc., which is undoubtedly another confirmation of its status as the "champion of all subjects". The launch of these new models will not only accelerate the role change between domestic vehicles and joint venture fuel vehicles, but also promote the transformation of the entire new energy vehicle market.
In addition to launching targeted strategies in the domestic market, BYD has also set its sights on overseas markets. During the 2024 European Cup, BYD will become the first new energy vehicle brand to appear in the European Cup, and the first Chinese car brand to cooperate with the European Cup. This move not only demonstrates BYD's ambitions for overseas markets, but also reflects its responsibility and responsibility as a leading enterprise in China's new energy vehicles. Today, BYD's new energy vehicles have entered 78 countries and regions around the world, and will continue to expand overseas markets in the future, contributing to the world's automobile oil to electricity and Chinese cars going overseas.
On the track of new energy vehicles, "BYD", the champion of all departments, is leading the development direction of the entire industry with its strong technical strength, cost control ability, forward-looking strategic vision and global market layout. We have reason to believe that in the future, BYD will continue to maintain its position as the "champion of all departments" and bring more high-quality and high-performance new energy vehicle products to global consumers.