2024 was a year of explosive growth for BYD as it sold an impressive 4.27 million vehicles globally. This marked a 41.3% increase in sales for the Chinese automaker, up from 3 million vehicles sold in 2023. However, the company fell short of its expectation to surpass Tesla as the world’s largest electric car manufacturer.
The automotive giant sold 1,764,992 electric vehicles in 2024, a 12% increase from the previous year, along with 2,485,378 plug-in hybrid electric vehicles (PHEV), representing a significant 72.8% growth.
December 2024 saw a record-breaking month for BYD as it sold 509,440 vehicles worldwide. While Tesla is yet to release its 2024 sales figures, it is estimated to have produced around 1.81 million cars. If accurate, Tesla retains its lead in electric car sales. However, BYD is projected to surpass Ford and Honda in cumulative sales for 2024, positioning itself as one of the largest automakers globally.
According to Bloomberg, the majority of BYD’s sales come from its domestic market in China, with only about half a million vehicles sold in overseas markets.
The rise of BYD in recent years has been nothing short of spectacular. Not long ago, BYD was a small, unremarkable brand selling dull cars in the Chinese market. Thanks in part to robust government subsidies for electric vehicles, BYD has established an enviable manufacturing footprint and launched more appealing models. The company also operates multiple sub-brands catering to different market segments.
Beyond electric cars, BYD is also a giant in the battery manufacturing industry. Per Car News China, BYD is currently the second-largest battery supplier in China, providing batteries to automakers like Toyota, Nio, and Tesla. In 2024, the company installed a total of 194.7 GWh of batteries for vehicles and energy storage facilities.
In Vietnam, BYD made its market entry in 2024 and currently distributes six electric vehicle models: Atto 3, Dolphin, Seal, Han, Tan, and M6. This year, BYD plans to introduce the Sealion 6 DM-i, a plug-in hybrid, to the Vietnamese market.
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The year started with a bang for car enthusiasts in Vietnam as news broke of a Hanoi-based customer taking delivery of the McLaren Artura Spider just a month after its launch. Now, a Vung Tau-based enthusiast has imported the second McLaren Artura Spider of 2025, causing yet another stir in the automotive community.
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