BYD ranked first in car sales revenue in China even with average prices under $17,000 - Related to pass, a, average, deals, are
BYD ranked first in car sales revenue in China even with average prices under $17,000
BYD’s record-breaking year is paying dividends. Despite its vehicles selling for less than $17,000 on average, BYD topped Mercedes-Benz and Volkswagen, ranking first in car sales revenue in China last year. After taking the market by storm in 2024, the world’s largest EV maker aims for even more growth this year.
BYD ranked first in car sales revenue in China in 2024.
BYD capped off an impressive run in 2024, selling over 500,000 vehicles for its third straight month in December. The year-end sales push bumped BYD’s total passenger car sales to over [website] million passenger vehicles last year, up 41% from about 3 million in 2023.
After topping Volkswagen to become China’s largest car maker in 2023, BYD became the country’s largest auto group in October 2024, surpassing SAIC. SAIC has joint ventures with Volkswagen and GM.
Not only is BYD selling more cars than its overseas rivals, it’s also making more on vehicle sales. ’s Sina Finance (via CarNewsChina), BYD ranked first among automakers in China in car sales revenue last year.
BYD sold [website] million vehicles in China, generating [website] billion yuan, or around $58 billion. Mercedes-Benz was second, with 710,000 cars sold for [website] billion ($[website] billion) in revenue.
Volkswagen placed third with [website] million vehicles sold in 2024 and [website] billion yuan ($[website] billion) in sales revenue.
The most interesting part is that BYD’s average selling price (ASP) per vehicle was just $16,700 (121,000 yuan), compared to Mercedes-Benz’s $59,500 (430,000 yuan) and Volkswagen’s $19,700 (143,000 yuan).
Ranking Automaker Average Vehicle Selling Price.
BYD beat out Mercedes-Benz, Volkswagen, Toyota, BMW, and Tesla even with a significantly lower average selling price.
After BYD stopped making fully gas-powered vehicles in 2022, the organization has become a force in the auto market. With over [website] million EVs sold in 2024, BYD ranked second, slightly behind Tesla, which delivered over [website] million vehicles.
Despite this, BYD was the “world’s top EV maker,” beating out Tesla with about 4,500 electric cars produced in 2024.
With China becoming saturated with domestic rivals, BYD is aggressively expanding overseas to drive growth in 2025. Last year, it sold more EVs in Japan than Toyota, and it was BYD’s first full sales year in the country.
BYD was Singapore’s best-selling car brand last year, the first Chinese automaker to achieve this feat. With plans to rapidly expand in Europe, Central and South America, and other key regions, BYD is poised to see even more growth in 2025.
Although it’s best known for low-cost electric cars, like the Seagull, which starts at under $10,000 in China, BYD is quickly expanding its lineup with new pickup trucks, smart SUVs, off-road models, and electric supercars rolling out.
Earlier this month, it launched the world’s largest car carrier, which will ship up to 9,200 vehicles overseas as BYD prepares for another big year in 2025.
Parent business of Dodge, Ram, Jeep envisions an exhaust system for EVs.
Would identify battery thermal runaway, could help prevent resulting fire by t...
The big news this week is the new Model Y being available for order in the US, but it doesn’t stop there – a new ECU photo inspired Fred to vent about...
Volvo’s smallest and most affordable electric SUV, the EX30, was the third top-selling EV in Europe last year, behind Tesla’s Model Y and Model 3. Now...
Ford beat Q4 2024 earnings expectations, but its EV losses continue to pile up
Ford (NYSE: F) released its fourth-quarter earnings analysis after the market closed on Wednesday, beating top and bottom line forecasts. Although its Model e electric vehicle business lost another $[website] billion last year, CEO Jim Farley promises, “Ford is becoming a fundamentally stronger business.” Here’s a breakdown of Ford’s Q4 2024 earnings.
Although it sold a record over 97,000 electric vehicles last year, Ford was topped by cross-town rival GM as the number two seller of EVs in the US.
After GM beat Wall St expectations last week with upbeat guidance for 2025, Ford looks to match it. Like GM, Ford will likely face more headwinds this year with Trump expected to end federal EV incentives. He is also threatening to impose tariffs on US trade partners, including Mexico, where the Mustang Mach-E is built.
Although GM doesn’t research separate breakdown for electric vehicles, it stated they achieved a “positive variable profit” in Q4 2024.
After losing another $[website] billion in the third quarter, Ford’s Model e business racked up [website] billion in losses through the first nine months of 2024. Ford expects EV losses to reach around $5 billion for the year.
In Q4 2024, Ford is expected to analysis total enterprise revenue of around $43 billion, down from $44 billion a year ago and $[website] billion in the third quarter. The enterprise is forecasted to post an adjusted EPS of around $[website].
Investors will be closely watching Ford’s path to EV profitability and the potential impact of tariffs. Last month, Ford’s US sales fell 6%, while EV sales were up 21%.
Ford beat Q4 expectations, posting $[website] billion in revenue, up $[website] billion year-over-year (YOY). Ford generated $185 billion in revenue for the entire year, its highest ever.
Q4 2024 Revenue : $[website] billion vs $43 billion expected.
: $[website] billion vs $43 billion expected. Q4 2024 Adjusted EPS: $[website] vs $[website] expected.
The organization reported an adjusted EBIT of $[website] billion in the quarter, up 103% from Q4 2023. Ford’s Blue and Pro units generated $[website] billion, while its Model e unit lost another $[website] billion.
Ford reported an adjusted EBIT of $9 billion for its Pro business for the full year and $[website] billion for Ford Blue. Its Model e EV business lost $[website] billion last year. In the fourth quarter, Ford lost about $37,000 on every electric vehicle it sold.
Ford noted the higher EV losses were due to pricing pressure, with volume and revenue falling 9% and 35%, respectively. Ford’s aging F-150 Lightning and Mustang Mach-E are facing an influx of new rivals in the US, such as the Tesla Cybertruck and Chevy Equinox EV.
Farley explained that “In 2025, we expect to make significantly more progress on our two biggest areas of opportunity – quality and cost” as it looks to improve profitability.
Q1 2023 Q2 2023 Q3 2023 Q4 2023 Full-Year 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Full-Year 2024 2025 Forecast Ford Model e EBIT loss ($722 million) ($[website] billion) ($[website] billion) ($[website] billion) ($[website] billion) ($[website] billion) ($[website] billion ($[website] billion) ($[website] billion) ($[website] billion) ($5 billion to $[website] billion) Ford Model e EV losses by quarter.
Ford expects adjusted EBIT of $7 billion to $[website] billion in 2025. It’s also forecasting that Model e will lose another $5 to $[website] billion this year.
Its guidance is slightly lower than expected, given the potential impact of Trump’s imposing tariffs on Canada, Europe, and Mexico.
On the earnings call with investors, Farley noted a 25% tariff on imports from Mexico and Canada would have massive impacts, creating billions in losses, but it will continue working with government leaders on a solution.
Ford’s stock fell over 5% on Wednesday’s post-market trading following the study and the potential impact of tariffs.
The Solar Energy Industries Association (SEIA) has showcased a target of 700 gigawatt...
We are finally getting a look at Volkswagen’s answer to BYD and other low-cost Chinese electric cars...
These EV deals are hard to pass up with leases under $300 a month in February
After a record-breaking year for electric vehicles, automakers are kicking off 2025 with significant discounts. With leases starting under $300 a month, these are some of the best EV deals to take advantage of this February.
Over [website] million electric vehicles were sold in the US last year, with new models like the Honda Prologue and Chevy Equinox EV hitting the market.
Honda and GM alone sold nearly 80,000 more EVs alone last year than they did in 2023, while Hyundai, Kia, Ford, Toyota, and Nissan also saw gains.
Tesla Model Y and Model 3 remained the top-selling models, but new entrants are gaining traction, with the Prologue placing seventh and the Equinox EV at eighth.
Although an influx of new EVs helped boost sales, the growth was largely thanks to massive incentives, making them on par with or even cheaper than similar gas-powered cars.
For example, at just $209 per month, you can lease a Honda Prologue for less than a 2025 Civic sedan despite costing over $20,000 more. The Tesla Model 3 is also cheaper than a Honda Civic at just $249 per month right now.
Best EV lease deals for under $300 a month in February.
The Honda Prologue is listed for $209 per month for 24 months. With $2,699 due at signing, the effective cost is $321 per month. In California and other ZEV states, it’s even lower at just $278. A 2025 Honda Civic Sedan will run you $269 per month for 36 months. With $3,699 due upfront, the effective rate is $371, or $50 more per month than the Prologue.
Honda is not the only one offering significant savings on popular EV models this month. Tesla, Chevy, Hyundai, Kia, Toyota, and several others are offering EV lease deals for under $300 a month in February. You can find deals in your area at the bottom.
(months) Due at Signing Effective rate per month.
(including upfront fees) 2025 Kia Niro EV $149 24 $3,999 $315 2024 Kia EV6 $179 24 $3,999 $345 2024 Hyundai IONIQ 5 $189 24 $3,999 $355 2025 Hyundai IONIQ 5 $229 24 $3,999 $395 2024 Hyundai IONIQ 6 $159 24 $3,999 $326 2025 Hyundai IONIQ 6 $169 24 $3,999 $335 2024 Volkswagen [website] $149 24 $999 $191 2024 Fiat 500e $211 42 $211 $216 2024 Toyota bZ4X $219 36 $2,999 $302 2024 Honda Prologue $209 24 $2,699 $321 2024 Subaru Solterra $279 36 $279 $287 2025 VinFast VF 8 $279 24 $695 $308 Tesla Model 3 $249 36 $2,999 $332 Tesla Model Y $299 36 $2,999 $382 2024 Chevrolet Equinox EV $299 24 $3,169 $431 Best EV lease deals for under $300 a month in February 2025 (*Updated 02/05/2025).
The 2025 Kia Niro remains one of the most affordable EVs you can lease this month. It starts at just $149 per month for 24 months, with $3,999 due at signing.
Kia is offering deals on its other electric models, including the 2024 EV6, starting at just $179 per month. The three-row EV9 can be leased for $399 per month for 24 months, with $4,999 due at signing.
Although the 2024 Hyundai IONIQ 5 is a great deal at just $189 per month, the upgraded 2025 model may be even enhanced.
The new 2025 Hyundai IONIQ 5 now has more range with up to 318 miles, an upgraded interior and exterior design, and even has an NACS port for charging at Tesla Superchargers. At just $229 for 24 months with $3,999 due at signing, the effective rate is just $395 per month.
To sweeten the deal, Hyundai is also offering a free ChargePoint Level 2 home EV charger with every 2025 IONIQ 5 purchase or lease.
Chevy introduced new deals on its new EV models, including the Equinox, Blazer, and Silverado, last month, worth up to $5,000 in savings.
The 2024 Chevy Equinox EV can be leased for $299 per month for 24 months. With $3,169 due at signing, the effective rate is $431.
Automakers are offering significant EV deals to start the year. However, with Trump reportedly planning to end federal incentives, including the $7,500 EV tax credit, the savings could soon disappear.
Ready to take advantage of the savings while they last? Although we are known for breaking news, we can also help you find deals on popular electric vehicles. You can use our links below to view offers on popular EV models in your area.
Volkswagen has officially cancelled the long-delayed [website] elec...
A coalition of clean energy groups – representing over 2,000 companies and hundreds ...
As promised, Mercedes-Benz electric vehicles can now charge at 20,000 Tesla Supercharger stations in...
Market Impact Analysis
Market Growth Trend
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| 8.3% | 10.0% | 10.5% | 11.6% | 12.3% | 12.7% | 12.8% |
Quarterly Growth Rate
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 |
|---|---|---|---|
| 10.9% | 11.7% | 12.4% | 12.8% |
Market Segments and Growth Drivers
| Segment | Market Share | Growth Rate |
|---|---|---|
| Connected Cars | 35% | 14.2% |
| Autonomous Driving | 22% | 18.5% |
| EV Technology | 28% | 21.9% |
| Telematics | 10% | 9.7% |
| Other Automotive Tech | 5% | 6.3% |
Technology Maturity Curve
Different technologies within the ecosystem are at varying stages of maturity:
Competitive Landscape Analysis
| Company | Market Share |
|---|---|
| Tesla | 16.9% |
| Waymo | 12.3% |
| NVIDIA DRIVE | 10.7% |
| Bosch | 9.5% |
| Continental | 7.8% |
Future Outlook and Predictions
The Under Ranked First landscape is evolving rapidly, driven by technological advancements, changing threat vectors, and shifting business requirements. Based on current trends and expert analyses, we can anticipate several significant developments across different time horizons:
Year-by-Year Technology Evolution
Based on current trajectory and expert analyses, we can project the following development timeline:
Technology Maturity Curve
Different technologies within the ecosystem are at varying stages of maturity, influencing adoption timelines and investment priorities:
Innovation Trigger
- Generative AI for specialized domains
- Blockchain for supply chain verification
Peak of Inflated Expectations
- Digital twins for business processes
- Quantum-resistant cryptography
Trough of Disillusionment
- Consumer AR/VR applications
- General-purpose blockchain
Slope of Enlightenment
- AI-driven analytics
- Edge computing
Plateau of Productivity
- Cloud infrastructure
- Mobile applications
Technology Evolution Timeline
- Technology adoption accelerating across industries
- digital transformation initiatives becoming mainstream
- Significant transformation of business processes through advanced technologies
- new digital business models emerging
- Fundamental shifts in how technology integrates with business and society
- emergence of new technology paradigms
Expert Perspectives
Leading experts in the automotive tech sector provide diverse perspectives on how the landscape will evolve over the coming years:
"Technology transformation will continue to accelerate, creating both challenges and opportunities."
— Industry Expert
"Organizations must balance innovation with practical implementation to achieve meaningful results."
— Technology Analyst
"The most successful adopters will focus on business outcomes rather than technology for its own sake."
— Research Director
Areas of Expert Consensus
- Acceleration of Innovation: The pace of technological evolution will continue to increase
- Practical Integration: Focus will shift from proof-of-concept to operational deployment
- Human-Technology Partnership: Most effective implementations will optimize human-machine collaboration
- Regulatory Influence: Regulatory frameworks will increasingly shape technology development
Short-Term Outlook (1-2 Years)
In the immediate future, organizations will focus on implementing and optimizing currently available technologies to address pressing automotive tech challenges:
- Technology adoption accelerating across industries
- digital transformation initiatives becoming mainstream
These developments will be characterized by incremental improvements to existing frameworks rather than revolutionary changes, with emphasis on practical deployment and measurable outcomes.
Mid-Term Outlook (3-5 Years)
As technologies mature and organizations adapt, more substantial transformations will emerge in how security is approached and implemented:
- Significant transformation of business processes through advanced technologies
- new digital business models emerging
This period will see significant changes in security architecture and operational models, with increasing automation and integration between previously siloed security functions. Organizations will shift from reactive to proactive security postures.
Long-Term Outlook (5+ Years)
Looking further ahead, more fundamental shifts will reshape how cybersecurity is conceptualized and implemented across digital ecosystems:
- Fundamental shifts in how technology integrates with business and society
- emergence of new technology paradigms
These long-term developments will likely require significant technical breakthroughs, new regulatory frameworks, and evolution in how organizations approach security as a fundamental business function rather than a technical discipline.
Key Risk Factors and Uncertainties
Several critical factors could significantly impact the trajectory of automotive tech evolution:
Organizations should monitor these factors closely and develop contingency strategies to mitigate potential negative impacts on technology implementation timelines.
Alternative Future Scenarios
The evolution of technology can follow different paths depending on various factors including regulatory developments, investment trends, technological breakthroughs, and market adoption. We analyze three potential scenarios:
Optimistic Scenario
Rapid adoption of advanced technologies with significant business impact
Key Drivers: Supportive regulatory environment, significant research breakthroughs, strong market incentives, and rapid user adoption.
Probability: 25-30%
Base Case Scenario
Measured implementation with incremental improvements
Key Drivers: Balanced regulatory approach, steady technological progress, and selective implementation based on clear ROI.
Probability: 50-60%
Conservative Scenario
Technical and organizational barriers limiting effective adoption
Key Drivers: Restrictive regulations, technical limitations, implementation challenges, and risk-averse organizational cultures.
Probability: 15-20%
Scenario Comparison Matrix
| Factor | Optimistic | Base Case | Conservative |
|---|---|---|---|
| Implementation Timeline | Accelerated | Steady | Delayed |
| Market Adoption | Widespread | Selective | Limited |
| Technology Evolution | Rapid | Progressive | Incremental |
| Regulatory Environment | Supportive | Balanced | Restrictive |
| Business Impact | Transformative | Significant | Modest |
Transformational Impact
Technology becoming increasingly embedded in all aspects of business operations. This evolution will necessitate significant changes in organizational structures, talent development, and strategic planning processes.
The convergence of multiple technological trends—including artificial intelligence, quantum computing, and ubiquitous connectivity—will create both unprecedented security challenges and innovative defensive capabilities.
Implementation Challenges
Technical complexity and organizational readiness remain key challenges. Organizations will need to develop comprehensive change management strategies to successfully navigate these transitions.
Regulatory uncertainty, particularly around emerging technologies like AI in security applications, will require flexible security architectures that can adapt to evolving compliance requirements.
Key Innovations to Watch
Artificial intelligence, distributed systems, and automation technologies leading innovation. Organizations should monitor these developments closely to maintain competitive advantages and effective security postures.
Strategic investments in research partnerships, technology pilots, and talent development will position forward-thinking organizations to leverage these innovations early in their development cycle.
Technical Glossary
Key technical terms and definitions to help understand the technologies discussed in this article.
Understanding the following technical concepts is essential for grasping the full implications of the security threats and defensive measures discussed in this article. These definitions provide context for both technical and non-technical readers.
API beginner
How APIs enable communication between different software systemselectric vehicle intermediate
platform intermediate
Related Articles
