As china's largest electric auto manufacturer, BYD is gradually expanding its market share and is expected to exceed its global annual sales targets in 2024.

In the first 11 months of this year, BYD delivered a total of 3.76 million autos, with sales reaching 506,804 units in November. The company is expected to surpass its annual sales target of 4 million units, which will lead in 2024 ahead of Japan's Honda and the USA's Ford.

A former executive of general motors stated that BYD's sales growth is at an "unprecedented speed"; auto industry consultant Michael Dunne said:

"BYD will soon see Ford in the rearview mirror."

Analysts believe that this sales achievement is due to BYD's application of the latest plug-in hybrid technology and the government's support for the trade-in subsidy policy.

"BYD will soon see Ford in the rearview mirror."

In the third quarter of this year, BYD's revenue grew by 24% year-on-year to 201.125 billion yuan, surpassing Tesla for the first time ever, claiming the title of king of electric vehicles.

In the first 11 months, BYD delivered a total of 3.76 million autos, with sales reaching 506,804 in November. The company is expected to surpass its annual sales target of 4 million autos, which will lead it ahead of Japan's Honda and USA's Ford in 2024.

Analysts estimate that if the current sales momentum continues, BYD's sales could exceed 6 million autos in the next 12 months, keeping it on par with world-leading auto manufacturer groups such as General Motors and Stellantis.

A former executive at General Motors stated that BYD's sales growth is occurring at an "unprecedented speed"; auto industry consultant Michael Dunne mentioned:

"BYD will soon see Ford in its rearview mirror."

According to data from the China Passenger Car Association, as of last month, BYD's market share in the Chinese auto market reached 17.1%, significantly exceeding last year's 12.5%, accounting for over 90% of its total sales.

Analysts believe that the surge in BYD's sales mainly stems from the explosive growth of hybrid vehicle models in the mass market. From the sales figures in October, it can be seen that 62% of BYD's sales that month came from hybrid models. Since the release of its fifth-generation DM technology at the end of May this year, over a dozen models equipped with this technology have been launched.

In addition, government subsidy policies have played a key role in driving BYD's sales growth. According to official data, as of November 18, the number of subsidized automotive trade-ins exceeded 4 million units. Analysis by Reuters based on industry data suggests that without the subsidy policies, automotive sales trends could have declined year-to-date, while growth from January to November was 4.4%.

Citi recently pointed out in its research report that BYD's goal is to deliver 5 million to 6 million autos by 2025.

Production capacity skyrocketed: increased by 200,000 units in three months, with nearly 200,000 new employees.

Last month, BYD's Executive Vice President He Zhiqi revealed on Weibo that the company successfully increased its production capacity by nearly 200,000 units during the period from August to October, while also conducting large-scale recruitment, adding nearly 200,000 new employees to meet the production needs of complete vehicles and components. Currently, all of BYD's production bases are operating at full capacity.

He also revealed that the company will continue to work hard in November to further explore potential, aiming for greater progress. Industry insiders commented that the capacity increase of BYD in these three months is equivalent to the total annual output of some second-tier joint venture brands, and this achievement is indeed astonishing.

As of September, BYD's total employee count approached 1 million, an increase from approximately 703,500 at the end of 2023.