BYD dealers worldwide are already off to a good start this year as they are set to receive a $280 million reward from the EV manufacturer. Now this is huge for dealers worldwide and is BYD’s way of appreciating them for their performance throughout last year. In 2023, BYD sold 3 million vehicles worldwide, and these dealers played a vital role in meeting this target.
The Chinese EV manufacturer started its sales journey last year with a target of selling 3 million vehicles worldwide. By closing the sale of 341,043 vehicles in December 2023 they were able to meet this target. BYD dealers worldwide have put in the work to make this achievement possible for the brand.
For this reason, BYD is set to reward them with a whopping $280 million reward for their work throughout the year. Each dealer will get $93.439 for every vehicle they sold within the year. As for the dealers that didn’t meet their sales target, BYD will still reward them, but not as they would dealers that meet the target.
The reports also indicate that most BYD dealers in China met their sales target. This shows how popular the EV brand has come to be in its home town. Worldwide BYD’s growth is also quite stunning as they are now the world’s top EV brand after outperforming Tesla, the holder of that title for quite a while.
As we step into 2024, BYD might set yet another target and work at completing it before the end of the year. The EV manufacturer is already working on some vehicles for this year, which will soon become available to the public. This year, we’ll keep a close tab on BYD’s business to see how they fare in the face of the competition that’s growing in momentum.