RIDE-CT – Classic Cars Celebrating Classic Cars in Connecticut
It’s surprising considering it’s an unknown brand in the United States, but maybe not so surprising because of the company’s extraordinary growth recently. China’s EV-manufacturer BYD, which sold 506,804 units in November alone, is projected to overtake Ford and Honda and become the world’s largest automaker in 2024.
BYD delivered 3.76 million vehicles in the first 11 months of the year and is on target to top its annual sales goal of four million, according to a Reuters report. Its November sales were assisted by government-subsidized auto trade-ins.
BYD is a dominant player in China. It had a 12.5 percent market share in 2023 and that number has risen to 17.1 percent in in 2024, the China Passenger Car Association reports. Sales of so-called “new energy” models in models in China accounted for 51.8 percent of sales in November, a slight drop from 52 percent in October.
The BYD name stands for “Build Your Dreams” and the company makes electric and plug-in hybrid models. It boosted production capacity by 200,000 units between August and October and hired 200,000 workers for auto and parts manufacturing during that time. It is now larger than Tesla.
(Photos courtesy of BYD)
