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Toyota was once more the highest promoting automaker on this planet in 2024. Toyota Motor Corp. ended the yr with 10.82 million gross sales (although, that was down 3.7% from 2023). Prime rival Volkswagen AG was effectively behind with 9.03 million gross sales (down 2% from 2023). Hyundai Motor Group reached 7.23 gross sales (down 1.8% from 2023).
However the large story of the yr was in 4th place: BYD Co. rose 41.3% over its 2023 complete and offered 4.27 million automobiles. Each single considered one of them plugs in to cost. The 4th finest promoting automaker on this planet is a plugin car producer.
BYD handed up Honda (3.81 million gross sales), Nissan (3.35 million gross sales), and Suzuki (3.25 million gross sales) to take the 4th spot. After all, it’s nonetheless far behind the highest three, but when it may see comparable progress once more in 2025 and attain 6 million world passenger automobile gross sales, it wouldn’t be too far off of Hyundai Motor Group’s 7.23 million gross sales. And that features Hyundai and Kia gross sales. Hyundai by itself offered solely 4.14 million automobiles, fewer than BYD!
10 years in the past, and even 5 years in the past, who would have thought an electrical car producer can be the 4th finest promoting automaker on this planet? And who would have thought it will be BYD?
After all, final yr, it grew to become clear BYD was coming for the title. In mid-2024, we printed the next tales:
By 2030, BYD may definitely rise as much as #1 on this planet, helped by Toyota’s sluggish transition to electrical automobiles and Volkswagen Group’s personal struggles. We’ll see.
As famous yesterday when reporting that BYD’s Stella Li was named World Car Person of the YearBYD has greater than 110,000 workers in its R&D division. It’s rising quick as a result of it’s innovating quick, and I believe we are able to depend on that persevering with. Additionally, whereas the corporate’s progress has been massively pushed by its home gross sales in China, the corporate is now focusing a whole lot of effort on increasing throughout the globe and exporting extra automobiles. The corporate has a plan, and it’s implementing that plan fairly effectively.
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