According to report on April 17 by Cover News, the latest terminal insurance volume shows that in 2023, BYD’s cumulative insurance volume exceeded the sum of FAW-Volkswagen and SAIC-Volkswagen, ushering in a historic moment and officially becoming the number one brand in China’s auto sales.
This is the first time an independent domestic brand has achieved this goal in the nearly 40-year history of China’s passenger car development.
| Brand | Total market sales | Month-on-month | Accumulated sales this year |
| BYD | 183300 | 31.37% | 440798 |
| Volkswagen | 157628 | 19.10% | 427269 |
| Toyota | 127118 | 18.33% | 330296 |
| Honda | 93142 | 43.41% | 216202 |
| Tesla | 76199 | 123.58% | 137505 |
| Changan | 75160 | 31.51% | 207807 |
| BMW | 72372 | 30.80% | 189724 |
| Mercedes Benz | 67569 | 17.72% | 184268 |
| Geely | 61622 | 14.19% | 182029 |
| Audi | 59801 | 48.63% | 136858 |
| Wuling | 55424 | -13.78% | 170596 |
| Nissan | 44402 | 18.80% | 129285 |
| Aion | 43139 | 49.90% | 79996 |
| Buick | 40726 | 30.69% | 100337 |
| Haval | 32107 | 8.69% | 102879 |
| Chery | 30031 | 22.60% | 83527 |
| GAC Trumpchi | 25544 | 22.67% | 69943 |
| Redflag | 22823 | 33.39% | 58465 |
| Li Auto | 21627 | 27.23% | 54106 |
| Hyundai | 18154 | 28.98% | 52753 |
How did BYD achieve this historic moment?
Relevant industry insiders analyzed strategy, design, technology, and the layout of the entire industry chain.
First of all, as early as the beginning of its development, BYD established a development route of independent research and development, independent production, and independent brand.
In 2008, BYD launched F3DM, the first to realize the commercialization of electric vehicles, and continued to launch the Dynasty series and Ocean series models to accelerate the layout of new energy vehicles.
Secondly, in 2018, BYD applied the design language of “Dragon Face” to the exterior design for the first time.
Since then, BYD’s products look more textured and more advanced as a whole.
There is also the leading DM-i hybrid technology, which achieves the same price of gasoline and electricity, and becomes a phenomenon-level explosive model as soon as it is launched. Compared with traditional fuel vehicles, models equipped with DM-i not only have the same price, but also have lower fuel consumption, better handling experience, and lower operating costs. This is undoubtedly more attractive to many consumers.
Of course, the most important thing is that BYD has always insisted on independent innovation and firmly grasped the core technologies of new energy vehicles such as three electric vehicles.
Even in the rather complicated situation in 2022, BYD was not stuck by suppliers and could further release production capacity. In terms of supply chain and terminal prices, the gap with rivals has widened.