Chinese electric vehicle giant BYD has just achieved another significant milestone, with the Yuan family surpassing 1 million in sales.
BYD Yuan family tops 1M sales
Tesla rival BYD announced Thursday that its Yuan family has reached more than 1 million sales, according to CnEVPost.
For context, the Yuan brand currently offers the Yuan Plus, Yuan Up, and Yuan Pro SUVs, all SUVs under the Dynasty lineup. These Yuan models significantly contribute to BYD’s strong dominance in the Chinese NEV market.
BYD Yuan family’s 1 million sales milestone achievement comes after Song and Qin crossed the same sales threshold.
With an affordable price in China, the BYD Yuan family models compete with other popular electric vehicles like Tesla’s Model Y crossover and Volkswagen’s ID.4 electric SUV.
BYD Yuan family
BYD launched the Yuan Up on March 26, offering three variants with a price range of RMB 96,800, RMB 109,800, and RMB 119,800, respectively.
Meanwhile, the Yuan Plus officially hit the Chinese market on February 22. It is the first SUV model to ride on the brand’s e-platform 3.0. It is also the inaugural model BYD developed for the global market. It is already available for sale in several foreign markets, such as the Atto 3 SUV.
BYD launched the Yuan Pro on May 31, 2023. It has three variants, with a price range of RMB 95,800, RMB 105,800, and RMB 113,800, respectively.
In hindsight, the Yuan brand’s cumulative sales last year reached a total of 428,580 units. It accounted for a notable 14.17% of the Chinese NEV giant’s annual sales.
From the January to May 2024 period, the Yuan family’s sales hit 134,392 units. It accounted for 10.57% of the overall vehicle sales in the same period.
Expansion push
BYD recently submitted an application for an emissions and noise certification with South Korea’s Ministry of Environment in June.
It seeks to launch its popular t Atto 3 (Yuan Plus) on the South Korean market, threatening the current dominance of Hyundai, Kia, and Tesla electric cars.
Homegrown Hyundai and Kia shares dropped 3.5% in 2023 to 76.6% as new affordable electric vehicles like Tesla’s China-made Model Y advance.
BYD’s imminent arrival in the South Korean market can further diminish Hyundai Motor Group’s market share.
