BYD overtakes VW’s 15-year-run as top seller in China

BYD overtakes VW’s 15-year-run as top seller in China

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China’s behemoth BYD overtook Volkswagen because the best-selling automobile model in China final 12 months, the primary time any carmaker outsold the German brand since no less than 2008.

BYD reported 2.4 million new automobile registrations in China final 12 months, in line with knowledge from the China Automotive Expertise and Analysis Middle. That new knowledge offers BYD a complete market share in China of 11%, an increase of three.2 proportion factors, stories Automotive News Europe.

BYD had overtaken VW as China’s best-selling automobile model on a quarterly foundation earlier final 12 months, with the brand new knowledge exhibiting that holds true for the full-year outcomes.

For its half, Volkswagen’s battery-electric car deliveries grew 23.2% to 191,800 in China, whereas whole gross sales grew 1.6% to three.2 million automobiles, Reuters reports.

Final 12 months, BYD offered 1.6 million fully battery-electric vehicles, overtaking Tesla in total BEV gross sales. Including up gross sales for all so-called new power autos, together with battery-only autos and plug-in hybrids, BYD offered a whooping 3 million autos in 2023.

BYD, the nation’s dominant automaker on the planet’s largest auto market, had an enormous 62% progress in gross sales final 12 months from 2022. BYD tripled its income to $1.5 billion within the first half of final 12 months, in line with Car News China.

In fact, the Chinese language EV market is booming – however wanting on the numbers, it’s fairly staggering. Chinese language automakers count on to have offered some 9.4 million EVs and hybrids final 12 months, a bump from 6.9 million in 2022, in line with knowledge from the China Affiliation of Vehicle Producers. For 2024, these numbers are anticipated to leap to 11.5 million.

Electrek’s Take

Volkswagen had been China’s best-selling model since 2008, or possibly longer since we don’t have earlier knowledge obtainable from the China Automotive Expertise and Analysis Middle. On the finish of final 12 months, VW introduced its plans to launch an entry-level electrical platform particular to the Chinese language market, and struck a take care of Chinese language EV maker Xpeng to assist it enhance its EV lineup final July. Nonetheless, the German legacy model has lengthy held a number of clout in China, however this new knowledge exhibits that Chinese language shoppers are blissful to purchase low cost, high-tech homegrown EVs lately.

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Alex Lorel

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