The crazy growth prospects of Chinese manufacturers BYD and Xiaomi

The two most publicized Chinese manufacturers in 2024 are not done with their rapid growth. According to several analysts, BYD and Xiaomi will continue to break records in 2025 and beyond.

After having stagnated for almost 15 years in the middle of the table, stuck under a sort of glass ceiling, BYD has literally exploded from 2021. Last year, the group sold 4,272,145 vehicles with its four brands ( BYD, Denza, Fang Cheng Bao, Yangwang). An increase of more than 40% compared to the 3 million cars delivered in 2023, and seven times more than in 2021… A result which allows it to overtake Ford or General Motors in the manufacturer rankings!

And its strong growth doesn’t really seem to be slowing down. Several analysts confirm high targets for 2025, with one thing in common: BYD will exceed 5 million cars this year. The most reserved are satisfied with 5.1 million, others even envisage 6 million, with a consensus around 5.5 million. If the result is strongly focused on the Chinese market, the share of international sales will probably increase even faster when the various factories planned around the world are all in operation.

BYD’s ultimate goal is simple: to become world No. 1. Some imagine it at 10 million at the end of the decade and the hypothesis is perhaps not so fanciful…

Also readSales of electrified cars in China: BYD champion, Tesla weakened

Xiaomi, another Tom Thumb puts on the 7 league boots

The second most promising manufacturer for analysts is no longer called LI Auto, but Xiaomi. Marketed in April, the SU7 sedan far exceeded the target of 120,000 deliveries in 2024, having approached 140,000 by December 31, 2024. The launch of the YU7 crossover and the opening of the second phase of the Beijing factory should therefore seriously push sales in 2025. Certainly, the SUV will take sales from the sedan, but above all it will add to it. Analysts have recently revised the figures upwards.

For 2025, Goldman Sachs, for example, increased its number from 290,000 to 350,000 units, and 650,000 instead of 480,000 in 2026. On this date, the range should include three models, and Xiaomi will really start to take an interest in export… For its part, the manufacturer is targeting 300,000 deliveries this year, but will make a point of exceed it.

In the long term, Xiaomi also wants to enter the Top 5, or even Top 3, worldwide…