According to media reports, Chinese electric vehicle manufacturer BYD has surpassed Honda and Nissan in global sales for the first time in Q2 2024. With the introduction of several affordable EV models in international markets, BYD is also narrowing the gap with Ford.
BYD’s new vehicle sales surged by 40% to 980,000 units from April to June 2024, propelling the company to the position of the seventh-largest automaker globally. In addition to its growing presence in China, BYD has significantly expanded its international footprint, selling 105,000 vehicles outside of China—three times more than the previous year. The company is now a leading EV brand in countries such as Mexico, Brazil, Japan, Thailand, Europe, and several Southeast Asian nations. Toyota is the only Japanese automaker that outpaced BYD’s sales in Q2 2024.
BYD is also ramping up its manufacturing capabilities, having recently inaugurated its first overseas plant in Thailand. Additional facilities are planned in Hungary, Brazil, Turkey, Mexico, and Pakistan.
Currently, BYD is approaching the sales figures of established automakers like Ford, which recorded 1.14 million sales in Q2 2024.
