Geely overtakes BYD in deliveries, recording largest sales gap since 2022
Kyiv • UNN
Geely strengthened its leadership in the Chinese car market, delivering 76,000 more units than BYD in the first two months of the year. BYD is facing pressure, while Geely demonstrates stability due to restructuring and new models.
Geely has strengthened its leadership in the Chinese automotive market, delivering 76,000 more units than its main competitor BYD in the first two months of this year. While BYD's sales fell by 36%, Geely demonstrated stability due to successful brand restructuring and the high popularity of new models. This was reported by Bloomberg, writes UNN.
Details
BYD, which previously overtook Tesla in the number of electric vehicles produced, is currently facing serious pressure in the domestic Chinese market.
CEO Wang Chuanfu admitted that the company's technological advantage is gradually being eroded as competitors have started offering similar solutions at more affordable prices.
To regain customer loyalty, the automaker is preparing to launch new charging technologies and advanced driver assistance features, which are expected to be key growth factors in March.
Geely's success in the domestic market and the development of export potential
Geely managed to gain market share by releasing successful models, including the compact Xingyuan hatchback, which became a real bestseller. Despite the general "EV winter," the company demonstrates resilience in the export segment as well, having shipped almost 182,000 cars abroad in two months.
Although BYD still leads in export volumes with growth of over 50%, Geely is confidently closing this gap, while increasing its presence in the budget and mid-price segments.
Price wars and new financing conditions to stimulate demand
To support sales during the difficult period after the New Year celebrations, leading automakers, including Xiaomi and Tesla, are launching ultra-long-term lending programs for up to eight years. Such measures with zero or minimal interest rates are designed to attract customers without directly lowering prices, which attracts the attention of regulators.
However, experts warn that such a strategy could negatively affect business margins and limit the capital needed to develop future innovations.
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