China’s leading EV maker, , sold more vehicles than Honda and Nissan for the first time in the second quarter. BYD is now the world’s seventh-largest automaker. With low-cost EVs hitting key global markets, BYD is quickly catching up to Ford.
According to (via ), BYD’s new vehicle sales climbed 40% between April and June to 980,000. The growth was enough to overtake Japan’s Honda and Nissan for the first time to become the seventh-largest automaker globally. A big part of BYD’s surging sales numbers is its incredibly affordable electric cars.
BYD continues slashing prices while releasing lower-cost EV models. Its cheapest EV, starts at just $9,700 (69,800 yuan) in China. Meanwhile, much of BYD’s success this year is thanks to growing overseas sales.
BYD sold 105,000 vehicles outside of China, roughly tripling from last year. After launching in key markets like Mexico, Brazil, Japan, Europe, Thailand, and other Southeast Asian countries, BYD is already a leading EV brand. Although global auto leaders like Volkswagen and Toyota’s sales numbers fell in Q2, BYD continued to see more demand.
Toyota is the only Japanese automaker that sold more vehicles than BYD in Q2, a stark contrast from past years. BYD’s growing global presence is symbolic of the auto industry’s shift to electric. Although China is leading the transition, many countries are setting aggressive EV goals as they look toward a cleaner, more sustainable future.
While BYD’s sales jumped 35% in Chi.