BYD aims to become the fourth largest automaker globally by targeting annual sales of 5.5 million vehicles by 2025. During a performance meeting on March 25, BYD Chairman Wang Chuanfu announced that the company is set to achieve this ambitious sales goal, with over 800,000 of those sales coming from international markets—nearly double the expected overseas sales in 2024.
To reach this target, BYD plans to expedite its overseas channel development and local production. The company has already begun operations at its four overseas factories in Thailand, Uzbekistan, Brazil, and Hungary, with a focus on expanding into the European, South American, and Southeast Asian markets. Additionally, they are enhancing their logistics capabilities by establishing a dedicated fleet for overseas shipping.
According to multiple sources, Wang revealed this sales target during the meeting, which represents a 30% increase from the previous year’s sales of 4.27 million vehicles. The company was reached for confirmation, but no response was received by the time of publication.
Prior to this announcement, several investment firms had already projected that BYD would exceed 5 million vehicle sales. Dongwu Securities, in its research report, estimated that BYD’s sales would range between 5.3 million and 5.5 million vehicles in 2025, with 60% to 80% of those being smart driving models and exports doubling to over 800,000 units. Huachuang Securities echoed this sentiment, projecting annual sales of 5.24 million to 6.04 million between 2025 and 2026, representing year-on-year growth of 23% and 15%, respectively.
Public data shows that BYD ranked fifth in the global automotive sales standings in 2024, trailing Stellantis, which sold 5.42 million vehicles, with BYD’s sales reaching 4.272 million. This marked a significant leap of four positions from the previous year, solidifying its leading role in the global electric vehicle market. The top three automakers were Toyota with 10.82 million vehicles, Volkswagen with 9.03 million, and Hyundai-Kia with 7.23 million.
If BYD achieves its goal of selling 5.5 million vehicles in 2025, it could potentially rise to fourth place in the global automotive sales rankings. Wang explained that the anticipated increase in sales for 2024 is due to BYD’s multi-brand strategy, which fosters high-quality growth through a well-structured brand hierarchy comprising BYD, Fangchenbao, Tengshi, and Yangwang.
The company’s global sales are predominantly driven by its domestic and overseas markets. While BYD has excelled in the domestic arena, its overseas sales have also seen rapid growth. Official figures indicate that BYD’s overseas sales of new energy passenger vehicles reached 417,000 units in 2024, marking a 72% increase. To meet its target of over 800,000 overseas sales in 2025, BYD must achieve a doubling of its current growth rate.
As of the end of 2024, BYD’s new energy vehicles had entered over 100 countries and regions across six continents. Wang highlighted that BYD is accelerating its passenger car business expansion, partnering with numerous high-quality global dealers to enhance its overseas channel development while advancing local production.
Currently, BYD has established a presence with factories in Thailand, Uzbekistan, Brazil, and Hungary. The factories in Uzbekistan and Thailand began production in June and July of 2024, respectively. For 2025, BYD will continue to focus on key markets in Europe, South America, and Southeast Asia, particularly in the UK, Brazil, Mexico, and Southeast Asia, with the aim of becoming a leading brand in those regions.
As Wang stated, to support its overseas business, BYD has built a shipping fleet, with the “EXPLORER NO.1” and “BYD CHANGZHOU” already in operation. “We currently have three operational transport ships and plan to add one new ship each month, eventually operating eight ships simultaneously,” BYD confirmed.
There are reports suggesting that BYD plans to launch its “Universal Smart Driving” initiative in overseas markets between 2026 and 2027; however, this information has not been officially confirmed. Financial reports indicate that BYD’s overseas market revenue reached approximately 221.88 billion yuan in 2024, reflecting a 38.49% increase and contributing over 28% to the company’s overall operations. According to Everbright Securities, BYD’s overseas models enjoy substantial profit margins and competitiveness, leading to expectations of sustained growth in overseas sales.
