BYD Shows Sound Development Momentum in 2023

On May 2, BYD announced its monthly sales. BYD's sales reached 210,295 vehicles in April, a year-on-year increase of approximately 98.31%. From January to April this year, BYD's cumulative sales volume was 762,371 vehicles, a year-on-year increase of 94.3%. Among competitive market in car manufacturing, BYD's sales continued to maintain an overwhelming lead.

It is worth noting that since the beginning of this year, BYD's overseas performance has been outstanding, and sales have continued to rise. In April, overseas sales of new energy passenger vehicles reached 14,827.

Stride out to sea

Since the beginning of 2023, BYD's monthly overseas sales have remained above 10,000 vehicles. From January to March, the sales volumes were 10,409, 15,002, and 13,312 respectively.

From January to April, BYD's overseas sales totaled 53,600 vehicles, which is close to the level of last year. In 2022, BYD's export sales was 55,900 vehicles.

From a regional perspective, as of March this year, BYD's new energy passenger vehicles have entered Japan, Germany, Australia, Brazil and other countries, with a presence in 51 countries and regions around the world.

On May 2, Li Yunfei, general manager of BYD Group's brand and public relations department, revealed the latest developments of BYD in the Singapore market. He mentioned that in the second half of last year they have started mass sales in Singapore and became the champion of electric vehicle sales. This year, BYD plans to launch more models in the Singapore market.

Net profit increased by 4 times in the first quarter

On the evening of April 27, BYD released its financial report for the first quarter of 2023. In the first quarter, the company realized operating income of 120.174 billion yuan, a year-on-year increase of 79.83%; net profit attributable to the parent company reached 4.13 billion yuan, a year-on-year increase of 410.89%, and the performance maintained an upward trend.

It is worth noting that this is BYD's "double-fold" performance growth on the basis of the high growth in the first quarter of last year. In the first quarter of 2022, BYD achieved operating income of 66.825 billion yuan, a year-on-year increase of 63.02%; net profit attributable to the parent was 808 million yuan, a year-on-year increase of 240.59%.

In the first quarter of this year, BYD's cumulative sales of new energy vehicles exceeded 552,000 units, a year-on-year increase of 92.81%, and its market share in new energy vehicles increased significantly from 24.67% in the same period last year to 37.75%.

AVIC Securities pointed out that BYD is the world's leader in electronic vehicles industry. They have actively improved their car structure, continued to increase their overseas market, and promoted brand power building while expanding the market share.

Sales of new forces are generally increasing

The April sales of most new car-making forces have also been released, and the sales of many companies have increased month-on-month.

Ideal delivered 25,681 new cars. Ideal has delivered more than 20,000 vehicles for two consecutive months. Sales in April increased by 516.3% year-on-year and 23% month-on-month.

According to the data released by Leap Motor, 8,726 new cars were delivered in April, a month-on-month increase of 41%.

Jikrypton delivered 8,101 vehicles in April, a month-on-month increase of 21.58% and a year-on-year increase of 279%. At present, the cumulative delivery has exceeded 100,000 vehicles.

Xpeng Motors delivered a total of 7,079 vehicles in April. NIO's delivery volume in April fell by 35.85% month-on-month and increased by 31.2% year-on-year.

Based on the data from the Passenger Association, the heat of the price war gradually subsided in April, consumers resumed rational consumption, the wait-and-see mood was eased, and the suppressed demand in the early stage was released. The overall auto market continued the trend at the end of March and stabilized and recovered. In April, retail sales of passenger vehicles in the narrow sense are expected to be 1.57 million units, a month-on-month decrease of 1.3%; affected by the low base in the same period, it increased by 49.8% year-on-year. Among them, the retail sales of new energy vehicles are expected to be 500,000 units, a decrease of 8.4% month-on-month, and the penetration rate is 31.8%.