BYD Restructures Overseas Brand Strategy to Hit 1.5 Million Annual Sales Target

On July 15, BYD announced a restructuring of its overseas brand portfolio: the Dynasty and Ocean series will be integrated into a unified "BYD Brand," while Denza and Fangchengbao will merge operations, and Yangwang will remain an independent brand. Li Yunfei, General Manager of BYD Group’s Brand and Public Relations Division, stated that the adjustment aims to concentrate resources and integrate sales channels. The company plans to enable each sub-brand to operate on a self-sufficient, profit-and-loss basis, though Yangwang will temporarily be excluded from this mechanism. Each brand will independently account for costs while utilizing the group’s R&D, production, procurement, and other resources as needed. In 2023, BYD’s overseas sales reached 1.04 million units, with a 2024 target of 1.5 million units—790,000 of which have already been achieved in the first half of the year. Li Yunfei noted that BYD’s medium- to long-term goal is to achieve a 50-50 split between domestic and overseas sales, continuously increasing its overseas sales share. In June 2024, BYD sold 340,863 units of its Dynasty and Ocean series, 35,607 units of Fangchengbao, 20,352 units of Denza, 470 units of Yangwang, and 174,897 units overseas, bringing its total monthly sales to 397,292 units.