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BYD Becomes 7th Largest Automaker with 40% Sales Increase, Targets Ford

Aug 23, 2024, 01:01 AM

BYD, a leading Chinese electric vehicle manufacturer, has surpassed Honda and Nissan to become the world's seventh-largest automaker by sales in the April-June quarter of 2024. The company's vehicle sales increased by 40% in the second quarter, driven by strong demand for its affordable electric vehicles. This surge in sales has allowed BYD to overtake these Japanese automakers for the first time. BYD's growth is part of a broader trend of increasing Chinese vehicle exports, with China exporting 2.8 million vehicles in the first half of 2024, with a forecast of 6 million by year-end, significantly outpacing Japan. The company is now targeting Ford with its low-cost EV offerings, as it continues to expand its presence in the global automotive market.