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Toyota was once more the highest promoting automaker on the planet in 2024. Toyota Motor Corp. ended the 12 months 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 massive story of the 12 months was in 4th place: BYD Co. rose 41.3% over its 2023 complete and offered 4.27 million autos. Each single considered one of them plugs in to cost. The 4th greatest promoting automaker on the planet is a plugin automobile 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. In fact, it’s nonetheless far behind the highest three, but when it might see comparable development 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 autos, fewer than BYD!
10 years in the past, and even 5 years in the past, who would have thought an electrical automobile producer could be the 4th greatest promoting automaker on the planet? And who would have thought it will be BYD?
In fact, final 12 months, it turned clear BYD was coming for the title. In mid-2024, we printed the next tales:
By 2030, BYD might definitely rise as much as #1 on the planet, helped by Toyota’s sluggish transition to electrical autos and Volkswagen Group’s personal struggles. We’ll see.
As famous yesterday when reporting that BYD’s Stella Li was named World Automotive Individual of the 12 months, BYD has greater than 110,000 staff in its R&D division. It’s rising quick as a result of it’s innovating quick, and I feel we are able to depend on that persevering with. Additionally, whereas the corporate’s development has been massively pushed by its home gross sales in China, the corporate is now focusing a variety of effort on increasing throughout the globe and exporting extra autos. The corporate has a plan, and it’s implementing that plan fairly effectively.
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