BYD from China has surpassed U.S. Ford in car sales, making it the world's fourth-largest car brand.
🟦BYD is ranked fourth in the world in terms of car sales.
According to Trendforce, global vehicle sales in August 2023 reached around 8.555 million units, showing a 1% month-on-month increase. The top three brands sold worldwide are Toyota, Volkswagen, and Honda. China’s BYD surpassed Ford in the United States in car sales, securing its position as the world’s fourth-largest car brand. The upcoming release of new models by each company in the fall will be closely monitored for potential impacts on future market trends.
🟦BYD’s strategy focused on electric vehicles
BYD, based in China, specializes in electric vehicles and is expanding its market share both domestically and internationally. Ford, on the other hand, experienced a decline in market share due to reduced sales in Europe and the U.S. along with intensified competition. In the Japanese market, BYD has introduced its new electric vehicle, the “Dolphin,” with active promotional efforts featuring competitive pricing.
🟦Summary
BYD from China surpassed Ford in automobile sales, securing its position as the world’s fourth-largest automobile brand. This serves as evidence that BYD is prioritizing electric vehicles and swiftly expanding its market share in Japan and other international markets.
In the smartphone market, devices from Huawei, Vivo, and Xiaomi hold a portion of the market share in Japan. Is it possible that the Chinese automaker BYD will also find acceptance in the Japanese automotive market?
