For the first four weeks of November, BYD saw its sales rise 83 percent to 152,863 units (November 1 to November 27, 2022). This is compared to Volkswagen’s retails sales of 143,602—a dip of 0.3 percent and Toyota’s 115,272—a dip of 0.5 percent.

If the retail sales trend holds for the full month, it would be the first time that BYD, which only began making cars in 2003, has topped the sales charts in China and the first time a company with a lineup of plug-in hybrids and full-electric vehicles has led the sales charts.

So far, BYD has produced three million electrified (hybrid or EV) vehicles globally. The milestone was reached last November 2022—six months after their two-millionth electrified vehicle production landmark. By comparison, it took BYD 13 years to sell its first millionth electrified vehicle.

In terms of exports, BYD has shipped approximately 9,500 electrified vehicles last October to over 70 countries in six continents. They also have plans to launch their own high-end luxury brand, known as Yangwang in the near future.

Established global automakers such as Volkswagen and Toyota have been losing sales in China to their domestic rivals such as BYD because they offer a wider range of affordable EVs. In addition, they feature more in-car entertainment functionalities and even some form of advanced driver assist technology that’s normally a pricey option in global auto brand offerings.

Source: Reuters