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.
Ukraine’s President Volodymyr Zelenskyy met Türkiye’s President Recep Tayyip Erdoğan in Ankara on Wednesday, with both leaders voicing support f...
Armenian President Vahagn Khachaturian’s official visit to Georgia is testimony to a rapidly strengthening partnership between the two neighbouring ...
The governments of Uzbekistan and Turkmenistan have launched a new visa-free border trade zone at Shavat–Dashoguz that allows mutual visa-free movem...
Meta will block all Australian users under the age of 16 from accessing Instagram, Facebook and Threads by 10 December, as the company moves to comply...
Russia's latest onslaught has led to the death of at least 25 people including three children with 115 people injured while also triggering emergency ...
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.
Thousands of users in the United States, some parts of Europe and South America on the X (formerly twitter) platform have reported being unable to access the site due to Cloudflare outage.
Emirates Airline is confident in Boeing’s plans for a larger 777X and has ruled out ordering Airbus’s A350-1000 at the Dubai Airshow.
Punjab’s modern political story begins in 1947. The end of British rule divided the region between India and Pakistan, leaving Sikh communities with a split homeland and unresolved questions about cultural and administrative protections.
Turkish Defence Minister Yaşar Güler stated on Monday that it would take at least two months to reach initial conclusions and analyse the black box of a Turkish cargo plane that crashed in Georgia last week, resulting in the deaths of 20 soldiers.
China's Foreign Minister Wang Yi on Tuesday talked up "high-level exchanges" in a call with Japanese counterpart Toshimitsu Motegi, hinting at a potential meeting between Chinese President Xi Jinping and Japan's new premier, Sanae Takaichi.
Ukraine’s President Volodymyr Zelenskyy met Türkiye’s President Recep Tayyip Erdoğan in Ankara on Wednesday, with both leaders voicing support for reviving the Istanbul peace process and strengthening cooperation on defence, diplomacy and prisoner exchanges.
Meta will block all Australian users under the age of 16 from accessing Instagram, Facebook and Threads by 10 December, as the company moves to comply with a sweeping new law that bans minors from using major social media platforms.
Russia's latest onslaught has led to the death of at least 25 people including three children with 115 people injured while also triggering emergency power outages across Ukraine.
Iran's air force, heavily reliant on aging F-14A Tomcat jets, faces a growing technological gap as its neighbors rapidly modernize their air forces with advanced fighter jets and air defense systems.
A fresh wave of floods and landslides triggered by heavy rainfall in central Vietnam since the weekend has claimed at least eight lives, according to a government report on Wednesday. Traders have also cautioned that the extreme weather could disrupt the ongoing coffee harvest.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment