Curved road. Pexels Image.
BYD has expanded globally to grow its presence and market share beyond China, aiming to become a leading global player in the automotive and battery industries.
The company has established or announced plans for assembly plants in 10 countries across three continents, including Brazil, Turkey, Thailand, Hungary, Indonesia, and Uzbekistan. This helps BYD overcome trade barriers and reduce costs by manufacturing closer to its target markets.
That said, this article presents BYD’s sales revenue by country or region. For your information, BYD derives its revenue primarily from China. However, its revenue stream outside of China has significantly increased, contributing approximately 27% of the total as of 2023.
Let’s get into the details!
Investors seeking detailed information on BYD’s sales statistics can find valuable insights on the following pages: BYD global car sales, BYD NEV sales, and BYD electric and plug-in vehicle sales.
Please use the table of contents to navigate this page.
Table Of Contents
Definitions And Overview
Revenue By Country/Region
A1. Revenue From China And Overseas
A2. Revenue From China And Overseas In Percentage
Growth Rates
B1. Growth Rates Of Revenue From China And Overseas
Conclusion And Reference
S1. Conclusion
S2. References and Credits
S3. Disclosure
Definitions
To help readers understand the content better, the following terms and glossaries have been provided.
Renminbi (RMB): Renminbi or RMB is the official currency of the People’s Republic of China. The primary unit of the renminbi is the yuan (CNY). The symbol for the Chinese Yuan Renminbi (CNY) is ¥.
BYD Company uses the Renminbi (RMB) for its financial transactions and reporting. The current exchange rate for the Chinese Yuan Renminbi (CNY) to the US Dollar (USD) is approximately 7.24 CNY for 1 USD.
Revenue From China And Overseas
BYD-revenue-from-China-and-overseas
(click image to expand)
BYD uses the Renminbi (RMB), also known as the Yuan (CNY), for its financial transactions and reporting. The exchange rate of the RMB to USD is available here: Renminbi (RMB).
BYD generates a significant portion of its revenue from China, including Hong Kong, Macau, and Taiwan, as shown in the chart above.
As of fiscal year 2023, BYD’s revenue from China reached RMB 441.9 billion (approximately US$ 61 billion), up over 30% from RMB 332.4 billion a year ago.
Since fiscal year 2019, BYD’s revenue from China has surged by over 300%, rising from RMB 102.3 billion in 2019 to over RMB 400 billion as of 2023.
BYD also earns significant revenue outside of China. For example, the automaker’s revenue from Overseas totaled RMB 160.2 billion (approximately US$ 22.1 billion) as of the end of fiscal year 2023, up 75% from a year ago.
BYD’s revenue from markets outside of China has surged by more than 700% since fiscal year 2019, increasing from RMB 19.5 billion in 2019 to over RMB 160 billion as of 2023.
Revenue From China And Overseas In Percentage
BYD-revenue-from-China-and-overseas-in-percentage
(click image to expand)
BYD uses the Renminbi (RMB), also known as the Yuan (CNY), for its financial transactions and reporting. The exchange rate of the RMB to USD is available here: Renminbi (RMB).
BYD’s China revenue accounts for a significant portion of its total revenue, as presented in the graph above. In fiscal year 2023, the revenue contribution from China was 73.4%, slightly down from 78.4% the previous year. On average, BYD’s revenue from China accounted for 74% of its total sales between fiscal years 2021 and 2023.
On the other hand, BYD’s revenue from Overseas contributed 26.6% of total sales in fiscal year 2023, up significantly from 21.6% in 2022. The revenue contribution from Overseas has remarkably increased, rising from 16% in 2019 to neearly 27% as of 2023. On average, BYD’s revenue from Overseas accounted for 26% of its total sales between fiscal years 2021 and 2023.
Growth Rates Of Revenue From China And Overseas
BYD-growth-rates-of-revenue-from-China-and-overseas
(click image to expand)
BYD uses the Renminbi (RMB), also known as the Yuan (CNY), for its financial transactions and reporting. The exchange rate of the RMB to USD is available here: Renminbi (RMB).
BYD has experienced significant revenue growth across all countries and regions, China in particular, as shown in the chart above.
In fiscal year 2023, BYD’s revenue from China grew by 33% compared to the previous year, while revenue from Overseas surged by 75%. Total revenue climbed 42% year-over-year in 2023.
The average annual growth rate of BYD’s revenue from China was 71% over the last three years, while revenue from Overseas soared 42% per year on average in the same period.
Conclusion
In conclusion, BYD has demonstrated robust revenue growth both in China and internationally over the past few years. This strong performance highlights BYD’s successful expansion strategy and its ability to capitalize on both domestic and international markets.
The company’s average revenue contribution from China was 74%, and from overseas was 26% between fiscal years 2021 and 2023, demonstrating a balanced growth trajectory. These achievements underscore BYD’s resilience and strategic positioning in the global market, making it a prominent player in the automotive and battery industries.
References and Credits
1. All financial figures presented in this article were obtained and referenced from BYD’s monthly production and sales reports which are available in BYD Latest Announcement.
2. Pexels Images.
Disclosure
References and examples such as tables, charts, and diagrams are constantly reviewed to avoid errors, but we cannot warrant the total correctness of all content.
The content in this article is for informational purposes only and is neither a recommendation nor a piece of financial advice to purchase a stock.
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