BYD Company Limited_ Annual results briefing takeaways - Keep capturing global brands' market share
2025-03-31 02:41
Key Takeaways BYD targets 5.5mn unit sales in 2025 (+29% YoY), in line with market expectations. Management sees volume upside from higher smart EV adoption, which could propel China local brands' share to expand another 5-10ppt in 2025 (from ~65-70% in 2024). BYD looks for steady net profit per unit in 2025 despite greater scale benefits and a higher mix of overseas sales, as the company will continue to prioritize volume share gain while maintaining profitability. BYD targets 800k overseas sales in 2025 ( ...