During the opening of the new BYD Experience Hub in Glorietta 1, Bob Palanca, the Managing Director for BYD Cars Philippines, says the brand is now the number one New Energy Vehicle (NEV) brand in the Philippines.
New Energy Vehicle is a term used in China to designate automobiles that are fully or predominantly powered by electric energy this includes BEVS (battery electric vehicles), PHEVs (plug-in hybrid electric vehicles), and FCEV (fuel cell electric vehicles).
So far in 2024, BYD Cars Philippines has a dominating 70.5 percent market share in the New Energy Vehicle (NEV) segment. In the BEV segment alone, they have a 66 percent slice of the pie.
Both numbers are year-to-date.
It’s not surprising that their best-selling car is the Atto 3 (read our review). It was launched in the fourth quarter of last year, and is priced very competitively at P 1,598,000. What’s surprising is they’re claiming the Atto 3 is also the best-selling battery-electric car in the country with a 44.1 percent market share (35.1 percent in NEVs).
In second place among NEVs is the BYD Sealion 6 DM-i at 18.3 percent, a surprise given it was just launched in June. This is followed by BYD Dolphin (read our review) at 9.2 percent, and BYD Tang at 4th with 6.6 percent market share. This makes BYD a dominating force in the NEV space with the top four cars under their belt.
However, they have to play catch-up once the hybrid market is included. So far, they are in second place there with 11.7 percent market share.
As a warning shot to its rivals as these numbers can only grow as BYD Cars Philippines is set to open eight more dealerships in early 2025. They’re also launching another disruptor in the BYD Seagull that’s priced ‘around’ P 900,000 later this month.
It would be interesting to see how these numbers fare compared to their rivals once the Philippine Electric Vehicle Summit commences come October. We’ll have to wait until the end of fiscal year 2024 though to really see if their numbers make a dent in the overall market.
Words and Photo by Vincent Villa.
its comrades cant compete with byd pricing. Later some of its comrades will closed shop, specially those who offer NEV only.
ReplyDeleteWhat does number 1 in ev market means? 10 units a month? Congrats
ReplyDeleteBYD sold 700 units already and its growing more
DeleteBYD Dolphin needs a price drop in order to compete with the ORA 3,Nammi,Ytterby and MG4
ReplyDeleteSeagull mini EV is likely gonna sell a lot due to its good looks and good pricing
BYD Philippines needs more dealers and more vehicles in the near future
Dongfeng is rapidly catching up with its very affordable Nanobox and Nammi
Nasaan na yung out of nowhere nagkukumpara ng Raize niya and "Toyota Quality" vs BYD? Baka di na nagbasa sa haba ng article.
ReplyDeleteHindi marunong magbasa pero nakapila na sa byd lol
DeleteMy next car would be still an ICE as flooding and heavy traffic are still major road issues and unsolved.
ReplyDeleteFloods and ICE cars don't mix as well as they do with and EVs.
DeleteBatteries of EV vehicles are very tightly sealed so they're very safe to be used in flooded roads
DeleteWill just wait for Tesla model C in the Phl market at less than half million pesos....
ReplyDelete