According to media reports, Chinese electric vehicle manufacturer BYD has exceeded Honda and Nissan in global sales for the first time in Q2 2024. The introduction of several affordable EV models in international markets has also helped BYD close in on Ford.
Between April and June 2024, BYD’s new vehicle sales surged by 40% to 980,000 units, elevating the company to the position of the seventh-largest automaker globally. Beyond its expanding presence in China, BYD has made significant strides internationally, selling 105,000 vehicles outside of China—three times the number from the previous year. The company has become a leading EV brand in Mexico, Brazil, Japan, Thailand, Europe, and various Southeast Asian countries. Toyota remains the only Japanese automaker to have surpassed BYD’s sales in Q2 2024.
BYD is also expanding its manufacturing capacity, having recently opened its first overseas plant in Thailand. Plans are underway for additional facilities in Hungary, Brazil, Turkey, Mexico, and Pakistan.
At present, BYD is closing in on the sales figures of established automakers such as Ford, which reported 1.14 million sales in Q2 2024.
