BYD is providing dealer rebate subsidies of RMB 666 ($93) per vehicle sold, local media outlet Yicai reported on Wednesday, citing sources close to the company.
The rebate mirrors a similar dealer incentive offered by BYD in early 2023, as part of a broader performance-based reward program for retail partners. According to Yicai’s earlier reporting, stores that met their annual sales targets were awarded the rebate per vehicle sold. Most dealerships across China reportedly achieved those goals.
The continuation of the RMB 666 rebate scheme suggests BYD is maintaining efforts to support its dealer network as it sustains high-volume sales. In 2024, BYD sold 4,272,145 vehicles — a year-on-year increase of 41.26%, positioning it firmly ahead of its domestic competitors.
If the rebate is applied to every vehicle sold in 2024, BYD’s total payout to dealers would amount to approximately RMB 2.8 billion ($390 million). In January 2024, Yicai reported that BYD was expected to allocate RMB 2 billion in dealer rewards after meeting its 3 million unit sales target for 2023.
At an investor meeting held on March 27, BYD reaffirmed its outlook, projecting that 2024 annual sales would grow more than 20% over the previous year. That would put the automaker’s internal forecast above 3.63 million units — a figure it has since surpassed by a considerable margin.
Looking ahead, BYD Chairman and President Wang Chuanfu stated in March that the company is targeting sales of 5.5 million vehicles in 2025, including more than 800,000 units from international markets. That represents a 29% overall increase and a 92% jump in overseas deliveries compared with the 417,204 vehicles BYD sold abroad in 2024.
