BYD Aiming To Sell Nearly As Many Cars As Ford: Report

Much ado has been made about Chinese EVs, in general, over the past several months, largely due to the fact that companies are working to sell those models in various places across the globe. Trouble is, automakers and government officials are concerned that these vehicles will not only undercut the competition in terms of pricing, but also, could potentially pose threats to national security. Among that group, Chinese automaker BYD has thus far been the most aggressive in terms of expansion, and has rather large goals in mind, too.

According to Reuters, BYD is is aiming to sell four million vehicles in 2024, which would represent an 11 percent increase compared to its target from early this year. If BYD manages to reach that mark, it would come quite close to Ford’s 2023 global sales of 4.4 million units, which ranked it sixth among all automakers. BYD reached a new personal monthly sales record in August at 373,083 units, meaning that it would have to average 418,000 units each month for the rest of the year to hit its newly revised goal.

As it stands, BYD’s previous goal of moving 3.6 million vehicles in 2024 is 20 percent more than it sold in 2023, but its rapid expansion outside of China is driving this ambitious upgrade. The company expects to double its exports to 450,000 vehicles this year, which is more than 11 percent of its overall total, and it’s currently facing a backlog of orders for the Qin L and Seal 06 DM-i, both of which start out at around 99,800 yuan ($14,019 USD).

BYD will find tough sledding in certain markets, however, as many governments are aiming to impose higher tariffs on imported Chinese vehicles – including the U.S., Europe, and Canada. BYD recently put its plans to find a suitable location for a Mexican production plant on hold until after the upcoming 2024 U.S. Presidential election, in fact. In the meantime, Ford is monitoring the company’s movements while also working to develop its own low-cost EV platform.