BYD’s Share of China’s Auto Market Rises to 20%

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After I noticed the most recent new vitality automobile (NEV) insurance coverage registrations in China, my first response was simply wonderment at how a lot BYD dominates the market. However then I used to be like, “well, this is nothing new — BYD’s been dominating this market for a while.” So, I moved on from the concept of writing about that.

Then, digging into the numbers displaying that BYD was quickly rising up the world auto rankingsI believed that perhaps BYD’s dominance in China actually had grown so much lately. So, I went again via the final a number of months (6 months, to be particular) and determined to take a look at how a lot BYD’s share of the Chinese language NEV market — and the broader Chinese language auto market — had grown in that point. It was one thing price writing about.

The corporate’s leads to August actually do stand out. It rose to twenty% of the Chinese language auto market (19.9%, to be particular). That was up from 18.1% in July, which was up from 15.9% in June, which was up from 15.7% in Could. So, that’s 3 months of consecutive progress, going from 15.7% to twenty%!

Maybe much more impressively, the corporate’s share of the Chinese language auto market almost doubled because the starting of the 12 months, going from 10.2% auto market share in January 2024 to 19.9% auto market share in August 2024, with nearly fixed progress throughout that point interval.

Naturally, being a 100% plugin automobile firm, its share of the NEV market is way bigger. It reached 37% in August, up from 35.5% in June, which was up from 32.7% in June. Although, general, it’s share of the NEV market hasn’t grown almost as a lot as its share of the broader Chinese language auto market. It rose from 31% in January to 37% in August.

BYD’s progress is phenomenal. How excessive can it really go, although? Can it rise to 30% share of the Chinese language auto market or increased? We will see.

You’ll be able to play with interactive variations of the 2 charts above right here (could not show properly on cellular gadgets):

Associated story: BYD Closer to Becoming #1 Automaker in World Than I Thought