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China's BYD surpasses sales of Honda and Nissan for the first time and targets Ford with cheap electric vehicles

Published 25/08/2024 às 16:51
BYD, Chinese Giant, Surpasses Honda and Nissan in Sales and Bets on Cheap Electric Vehicles to Compete with Ford in the Global Market
Photo: Reproduction

BYD makes history: Overtakes Honda and Nissan in sales and bets on low-cost electric vehicles to compete with Ford in the market

The electric car automotive industry is undergoing a significant transformation, and the BYD, leading manufacturer of eletric cars of China, is leading this change. In the second quarter of 2024, BYD made history by selling more vehicles than giants like Honda and Nissan, becoming the seventh largest automaker in the world, becoming a headache for Ford.

With affordable electric vehicles arriving in major global markets, BYD is quickly catching up with Ford, one of the most traditional car manufacturers in the world. United States.

BYD makes history: Beats Honda and Nissan
BYD makes history: Beats Honda and Nissan – Photo: reproduction

BYD's exponential growth

Sales of new vehicles from BYD rose 40% between April and June 2024, totaling 980.000 units worldwide.

This impressive growth allowed the BYD surpass Honda and Nissan, two of the largest Japanese automakers, something that seemed unimaginable just a few years ago. Now, BYD occupies seventh place in the global ranking of car manufacturers automobiles, a position achieved largely due to the success of its affordable electric vehicles.

One of the main factors that boosted BYD's sales is its aggressive low pricing strategy. The company has launched lower-cost electric models such as the Seagull, which costs just US$9.700 (69.800 yuan) in China. This highly competitive price has attracted a wide range of consumers, allowing BYD to capture significant market shares, not only in China, but also in other countries.

Global expansion and international sales

International expansion has been one of BYD's main strategies to strengthen its position in the global market. In 2024, the company sold 105.000 vehicles outside of China, almost triple compared to the previous year. BYD has already established itself as a leading electric vehicle brand in key markets such as Mexico, Brazil, Japan, Europe, Thailand and other Southeast Asian countries. This global expansion is crucial for the company as it seeks to increase its share of the global automotive market and continue to outperform competitors such as Nissan and Ford.

While BYD's sales continued to grow, global automotive leaders such as Volkswagen and Toyota faced declines in sales in the second quarter of 2024. Toyota was the only Japanese automaker that managed to sell more vehicles than BYD during this period, a a fact that highlights the rapid growth and rise of the Chinese company.

The proximity to Ford in the dispute in the electric car market

BYD's rise shows no signs of slowing down, and the company is quickly catching up with other traditional automakers, including Ford. Ford, which has been one of the automotive market leaders for decades, now faces a significant challenge from BYD, which is expanding its global presence and increasing its electric vehicle sales.

While BYD's sales jumped 35% in China in June 2024, many foreign rivals, including Honda, faced double-digit sales declines. This success is not restricted to China; BYD is also gaining ground in international markets where traditional automakers such as Ford have historically dominated.

Ford, in turn, has faced difficulties in maintaining its leadership in the electric vehicle market. Recently, the company canceled its plans to launch a three-row electric SUV, opting to focus on hybrid vehicles. This decision could open space for rivals, such as BYD, to gain a greater share of the electric vehicle market. Additionally, Ford announced that it will provide a more complete update on its electric vehicle strategy next year, which indicates that the company is still adjusting its game plan to compete with emerging companies like BYD.

Promising Future for BYD

BYD's future looks bright, especially considering its global expansion plans. The company has already opened its first factory abroad, in Thailand, in July 2024, and is building new units in countries such as Hungary, Brazil, Turkey, Mexico and Pakistan. These factories will be key to increasing BYD's production capacity and meeting the growing demand for electric vehicles around the world.

Additionally, BYD plans to expand its presence in North America, starting with Canada. The company is also finalizing the agreement to build a factory in Mexico, which will have a production capacity of 150.000 vehicles. With these initiatives, BYD is positioned to continue its accelerated growth and eventually surpass Ford in global vehicle sales. vehicles.

In conclusion, BYD is redefining the global automotive landscape with its lineup of affordable electric vehicles and its rapid international expansion. With Nissan behind us and Ford on the horizon, BYD is poised to become a leading force in the global auto market, leading the transition to a more sustainable, electrified future.

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Fabio Lucas Carvalho

Journalist specializing in a wide range of topics, such as technology, politics, shipbuilding, geopolitics, renewable energy and economics. I have been working since 2015 with prominent publications in major news portals. My degree in Information Technology Management from Faculdade de Petrolina (Facape) adds a unique technical perspective to my analyses and reports. With over 10 thousand articles published in renowned media outlets, I always seek to bring detailed information and relevant insights to the reader. For story suggestions or any questions, please contact me by email at flclucas@hotmail.com.

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