BYD Sets 2022 Target to 1.2 Million Units
Recently, BYD revealed during its investor conference call that its sales target of new energy vehicles in 2022 is between 1.1-1.2 million units, including 600,000 pure electric vehicles and 500,000-600,000 plug-in hybrid vehicles.
If BYD achieves its 2022 sales target, it would become only the second enterprise after Tesla to sell more than 1 million new energy vehicles in a year. In 2021, BYD’s sales of new energy vehicles grew rapidly, with their cumulative sales within the first 11 months reaching 509,838 units, up 216.97% year-on-year.
The company’s annual sales volume of 1.2 million units means that BYD must sell another 100,000 new energy vehicles every month in 2022, while in November 2021, BYD’s sales volume of new energy vehicles had already reached 91,219 units. If this upward trend is continued, the sales target that BYD has laid out will be simple enough to attain.
However, there are still a few undelivered sales orders of BYD vehicles. On December 6, BYD said in response to a question about its DM-i delivery: “After our DM-i models were launched, they have been the focus of the market and welcomed with open arms. Order demand remains strong. We, the company, are actively accelerating production to meet the needs of our users.”
From the perspective of the whole automobile industry, the sales volume of new energy vehicles made by Chinese companies will be between 4.5 and 5 million units next year. If BYD achieves its sales target of 1.2 million units, its market share will increase by 6.5% to 24%. The company’s market share from January to November 2021 was 17.5%.
According to its plan, BYD will launch at least 8 new energy vehicles, such as Yuan PLUS and Han DM-i, in 2022. For its Dynasty series, BYD will launch a number of new vehicles such as the Yuan PLUS (pre-sold on January 1, 2022), Song MAX DM-i (listed in the first quarter of 2022), new Tang EV, and Han DM-i.
As for the Ocean series, BYD will launch its BYD Destroyer 05 which will be available as early as the first quarter of 2022; the Seal, which is to be unveiled in the third quarter of 2022 ; the Sea Lion (also to be released in 3Q 2022); and the Seagull, which is to be unveiled in June 2022 at the earliest. Among these vehicles, the Seagull is priced at the lower end of the spectrum while BYD has positioned its new vehicles as “A00 pure electric” and will focus on the entry-level mini-car market of 60,000-90,000 yuan in the future.