BYD has overtaken Volkswagen as China’s best-selling car brand. This is according to data from China Merchants Bank International or CMBI.
For the first four weeks of November, BYD saw its sales rise 83 percent to 152,863 units (November 1 to November 27). This is compared to Volkswagen’s retails sales of 143,602—a dip of 0.3 percent and Toyota’s 115,272—a dip of 0.5 percent.
If the retail sales trend holds for the full month, it would be the first time that BYD, which only began making cars in 2003, has topped the sales charts in China and the first time a company with a lineup of plug-in hybrids and full-electric vehicles has led the sales charts.
However, due to China’s strict zero COVID-19 policy, overall retail sales of cars in China fell 7 percent year-on-year based on average daily sales. On a month-on-month basis, it’s a 2 percent decline compared to October.
Established global automakers such as Volkswagen and Toyota have been losing sales in China to their domestic rivals such as BYD because they offer a wider range of affordable EVs. In addition, they feature more in-car entertainment functionalities and even some form of advanced driver assist technology that’s normally a pricey option in global auto brand offerings.
Keyword: BYD Overtakes Volkswagen As China's Best-Selling Car Brand In November