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The
Chinese automaker will pay 666 yuan ($93.17) per car to the
dealers if they have achieved their sales targets in 2023, the
people said. The number 666 is considered an auspicious figure
in China since the number sounds like the word for "cool" or
"amazing".
In total, BYD is estimated to pay up to 2 billion yuan as it
sold more than 3 million units of pure electric cars and plug-in
hybrids in the year, they added.
Chinese media outlet Yicai first reported BYD's dealer bonus on
Tuesday. BYD did not respond to a request for comment from
Reuters.
BYD has been rapidly expanding its sales network in China via
dealerships to boost its sales, especially in lower-tier Chinese
cities.
It had more than 3,400 stores in China selling its Dynasty and
Ocean series of cars as of October, the highest among all
brands, according to China Merchants Bank International.
BYD reported a total of 21 billion yuan in net profit in the
first three quarters of 2023 with a sales of more than 2 million
vehicles and components such as batteries and smartphone
electronics.
BYD sold 3 million cars globally in 2023, 62% more than 2022, of
which 1.57 million were pure electric vehicles (EV). Tesla said
it delivered 1.81 million EVs in the same period, an increase of
38% from a year ago.
But for the fourth quarter, BYD beat Tesla out to the top EV
maker spot, with sales mostly in China.
($1 = 7.1483 Chinese yuan renminbi)
(Reporting by Zhang Yan and Brenda Goh; Editing by Christian
Schmollinger)
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