Return to Uzone News Portal
Uzone.id – Amid intense competition in the world car market, Toyota is still leading as the best seller, followed by Volkswagen. But in third place, BYD stalking.
BYD has achieved another impressive achievement after successfully occupying the third best-selling model in the world, as quoted from Carnewschina.
The data shows that BYD sells almost half the number of cars sold by Toyota, which is ranked first. And it is only about 30,000 cars behind Volkswagen, which is in second place.
BYD sold 315,600 cars in July compared with 651,200 Toyota cars and 346,200 Volkswagen cars.
No other Chinese brands made it into the top 10, however, Chery managed to take 18th place with sales of 71,100 and Geely came in twentieth with sales of 63,800.
However, the sales picture for the year so far is very different. Despite a strong showing in July, BYD only managed to grab eighth place from January to July, based on sales of 1,714,100 units.
Geely’s sales were much lower, at 577,700, with the brand in 18th place overall. Once again, Toyota and Volkswagen came in first and second respectively, but Honda came in third for the year.
Chinese car sales are usually more concentrated in the second half of the year, and it will be interesting to see whether the overall ranking of Chinese brands will improve in December.
This data, however, shows that despite the strength of the Chinese car market, it is still relatively fragmented, and apart from BYD, no brand has yet to truly break onto the world stage.
If Chinese cars are truly going to dominate the world market then we should see at least one or two other brands in the top ten besides BYD.
BYD’s positive record throughout July confirms them as a Chinese brand that other automotive giants should be wary of. Because BYD will even beat Tesla’s electric car sales throughout 2023.
Tesla is in 13th place, with 112,400 units sold globally last July. According to BYD’s earnings call in August, about 2/3 of its sales were hybrid cars, but the number of its electric car sales still grew by 12%.
BYD cars are generally competent and well-liked vehicles at competitive prices. It’s not hard to understand why buyers are flocking to these cars, much to the dismay of European governments and non-Chinese automakers alike.
Things are expected to continue to improve for BYD from here on out. Carnewschina said that for the Chinese auto market, sales are likely to increase during the second half of the year.
Part of BYD’s sales lull was initially blamed on a busy Chinese New Year that deterred buyers from making large purchases.
Tariffs in the European Union, the US, and Canada appear to be just a bump in the road, as BYD continues to expand into new markets and diversify its supply chain and manufacturing base.
European Union tariffs went into effect in early July, and US and Canadian tariffs have made entry into those markets unlikely if not impossible.
However, BYD is one of the few profitable Chinese automakers. BYD also introduced more products, such as the new Seal 06 GT.
We’ll have to wait to see how well BYD fares later this year, but things are looking like sunshine and rainbows at the moment for the brand.
BYD’s ascent in the past two years has been extraordinary, proving that the world wants affordable plug-in vehicles.
In the year 2023, BYD managed to sell more than 3 million plug-in vehicles – 62% more than in 2022. This year is expected to approach 3.5 million combined EV and PHEV sales.
It’s worth noting that BYD’s pure electric car sales see a slight decline in 2024, but the surge in PHEV sales more than makes up for it.
In July, BYD sold about 130,000 fully electric cars, which is 4% less than in July 2023, but BYD sold more than 210,000 PHEVs, up 62% year-on-year.
Most of these plug-in vehicles are sold in China, but the more than 30,000 vehicles it exports represent a 65% increase compared to 2023.
BYD wants to expand beyond China and become a truly global player, and BYD already has a presence in Europe (where new import duties threaten the affordability of its vehicles), as well as in several South American and Asian markets.
