BYD overtakes Volkswagen: The race for the electric cars begins!

BYD overtakes Volkswagen: The race for the electric cars begins!

Shenzhen, China - byd, the Chinese automobile manufacturer, with its headquarters in Shenzhen, increased his profit to an impressive 40.3 billion Yuan (around 5.1 billion euros) in 2024. This corresponds to a rich plus of around 33 % compared to the previous year. Sales rose by 29 % to 777 billion Yuan (approx. 99 billion euros), which significantly exceeded the expectations of the analysts. The success of BYD is also shown in the sales figures: a total of 4.25 million vehicles were sold, including 1.76 million pure electric cars. These statistics illustrate that BYD is well on the way to reaching its ambitious sales goals for 2025 that are between five and six million vehicles.

A central success factor for BYD is the strategy of offering affordable models. This tactic is said to be of great benefit to the company in the current price war on the Chinese market. In an environment in which traditional German automobile manufacturers are increasingly under pressure-shrink their profits from combustion vehicles-BYD has established itself as a market leader in the rapidly developing e-car sector in China. In 2023, BYD overtook the Volkswagen Group and thus secured the market leadership in China.

competition on the electric car market

BYD has also made remarkable progress in a global comparison. Last year, the Tesla company overtook sales in the sales sector. Nevertheless, Tesla also had a head start in the total number of pure electric cars sold in 2024 with 1.79 million electric vehicles sold. In the first months of the current year, however, the sales of Tesla decreased, especially on the important Chinese market and partly in Europe.

The aggressive expansion and pricing policy of BYD, combined with the continuous demand for electric vehicles, enables the company to effectively master the challenges that occur in the automotive industry. The competition is expected to continue to increase, especially since BYD with its focus on inexpensive electric vehicles provides a clear answer to the challenges of the industry.

Overall, BYD positions itself not only in China, but also at an international level as a leading player in the emerging market for electric cars. The development of the company is observed carefully because it could give important impulses for the future of the automotive industry. [Oekonews] reports that the coming years will be decisive for the positioning of BYD and other manufacturers in the global automotive industry.

Learn more about the expansion and strategies of BYD and how the company rolls up the world market for electric cars in an article by [Manager Magazin].