Wang expects China's NEV sales to be 8.5 million to 9 million units in 2023, with penetration rates of up to 40 to 45 percent, and possibly exceeding 50 percent in some months. If it can reach 3.6 million units in global sales, BYD will be among the top 10 car companies in global auto sales this year.īYD aims to become the largest automaker in China by the end of this year, Wang said.īYD's retail sales of 316,417 units in January-February were the highest among all car companies in China, with an 11.8 percent share, according to a list released earlier this month by the China Passenger Car Association (CPCA). If it can achieve its sales target of reaching 2.8 million units in China, BYD will surpass the Chinese market record of 2.16 million sales held by FAW-Volkswagen, Yicai's report noted. It first announced overseas NEV sales figures in July 2022. The company sold 50,021 NEVs overseas from July to December 2022.

The company discontinued production and sales of vehicles powered entirely by internal combustion engines in March 2022.

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