China’s BYD is set to surpass its 2024 sales target of 4 million vehicles, overtaking Honda and Ford globally. Driven by strong domestic demand, BYD’s market share and production capacity continue to soar, solidifying its position as an EV leader.
China’s leading electric vehicle manufacturer, BYD, is poised to demonstrate further market share growth when November sales data is released. The company is on track to exceed its annual target of 4 million vehicles, surpassing Honda and Ford in global sales for 2024. BYD delivered 3.76 million vehicles in the first 11 months of the year, including 506,804 units in November.
Strong domestic sales, supported by its advanced plug-in hybrid models, have driven the firm's expansion, with its share of the Chinese auto market rising to 16.2% as of October, up from 12.5% in 2023. This places BYD ahead of Volkswagen’s joint ventures in China, which combined for a 12.5% share during the same period. Analysts predict BYD could achieve annual sales exceeding 6 million vehicles by 2025, rivaling global leaders such as General Motors and Stellantis.
To meet demand, BYD expanded production capacity by 200,000 units between August and October and hired 200,000 additional workers, bringing its total workforce to nearly one million by September. This scaling effort has enabled BYD to outpace competitors, control costs, and withstand a challenging price war in the Chinese market, which has significantly impacted foreign automakers.
General Motors recently announced over $5 billion in charges tied to its struggling China operations, highlighting the challenges faced by foreign firms in the region. BYD has maintained its competitive edge, leveraging cost efficiencies and supplier negotiations to sustain its growth trajectory.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 10th of December, covering the latest developments you need to...
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Chinese electric vehicle manufacturer BYD Co expects exports to account for around 20% of its global sales this year, supported by the launch of new models, the South China Morning Post reported on Monday.
Chinese electric vehicle giant BYD is set to begin local assembly operations in Pakistan by mid-2026, marking a significant step in the country’s transition toward electric mobility.
As the global race for dominance in autonomous vehicles accelerates, China’s auto and tech industries are fast emerging as a serious threat to Tesla’s leadership in self-driving technology.
Chinese EV maker BYD has unveiled its budget-friendly Dolphin Surf in Berlin, intensifying competition in Europe's electric car market with prices starting at just €19,990.
Scores of demonstrators gathered outside the Norwegian Nobel Institute in Oslo Tuesday (9 December) to protest against the awarding of this year’s Nobel Peace Prize to Venezuelan opposition leader Maria Corina Machado.
Authorities in Japan lifted all tsunami warnings on Tuesday following a strong 7.5-magnitude earthquake that struck off the northeastern coast late on Monday, injuring at least 30 people and forcing around 90,000 residents to evacuate their homes.
Pressure is mounting between Venezuela and the United States as both nations emphasise military preparedness and strategic positioning.
Tehran has protested to Washington because of the travel ban on its football team delegation as well as Iranian fans who would like to travel to the United States for the upcoming World Cup matches in 2026.
Paramount Skydance (PSKY.O) has launched a $108.4 billion hostile takeover bid for Warner Bros Discovery (WBD.O). The escalation follows a high-stakes battle that had appeared to end last week when Netflix secured a $72 billion deal for the studio giant’s assets.
At least 19 people were killed and 16 injured as two buildings collapased in Morocco's Fes city according to the state news agency.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 10th of December, covering the latest developments you need to know.
The world’s leading minds and voices will be honoured on Wednesday, 10 December, the anniversary of Alfred Nobel’s death, as Nobel Prizes are presented in Stockholm and Oslo.
Artillery fire and ground skirmishes have erupted once again along the jungle frontier between Thailand and Cambodia, shattering a fragile ceasefire and displacing tens of thousands of civilians in the worst outbreak of violence between the neighbours in years.
The United Nations Security Council has issued warnings about the rapidly worsening humanitarian crisis in Ukraine, citing a sharp surge in civilian casualties amidst Russia's intensified aerial attacks, marking the deadliest period of the war in more than a year.
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