BYD tops China car market, expands overseas

50,807 次觀看・1 年前

STORY: China’s car market may have a new champion.

Local firm BYD was the country’s top selling brand over the first four weeks of November.

If that holds for the whole month, it will be the first time the company has topped sales charts.

It would also be the first time that a company which solely makes hybrids and electric vehicles has come first.

The numbers highlight the growing challenge to more established names.

BYD made its first car in 2003, but has risen fast, and is now the world’s largest EV maker by sales.

This month’s figures put it on track to beat the likes of Toyota and the Volkswagen brand in China.

Though the VW group as a whole may still edge ahead, once sales of its Audi brand are included.

Analysts say Chinese makers are winning customers with affordability and attractive features, such as autonomous driving technology.

That has seen established names lose market share.

Overseas car markets may be next on the target list.

This week BYD said it would launch sales in Mexico.

It hopes to shift up to 30,000 cars there in 2024.

The firm is also expanding sales efforts in Europe.