BYD presently has a backlog of 700,000 orders, with a current wait period of 4-5 months for consumers who place orders today. Despite company’s rapid expansion of manufacturing capacity, consumers’ wait times have not been reduced due to an increase in order backlog.
BYD’s automobile deliveries in August were hampered by power outages and Covid outbreaks, but they were higher than in July. By the end of the year, the business hopes to have delivered 280,000 units every month.
BYD’s raw material procurement expenses will be decreased by 3-5 percent every year as its sales scale expands. Even if China’s NEV subsidies are totally phased out next year, the 5% cost decrease will more than compensate. The company has announced intentions to establish a new facility in Thailand to assist enhance output.
As the company’s manufacturing capacity is freed, the average depreciation and amortization cost per car will fall, resulting in higher profit margins.
In 2023, the battery capacity will be used mostly by the firm itself, with a much bigger share sold to other automobile makers beginning in 2024. In terms of international market development, the company will prioritize Europe.
Reference- Globe PR Newswire, CnEVPost, Clean Technica, BYD website