But it turned out that the success was due not only to the high and even “exciting” demand for the brand’s electric vehicles, but also to the new plug-in hybrid technology. In this context, the demand for this brand in China in 2024 increased by 41.3% compared to 2023. It is stated that BYD cars are sold at a rate of up to 90 percent in China, where the company is the leader compared to foreign brands.
Additionally, the annual sales target of 3.6 million units was exceeded by approximately 19%. The government also allocated significant subsidies to the company, which allowed BYD to provide tangible discounts to the consumer.
Source: Ferra
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