One of BYD’s best-selling electric car models, the Han, is displayed at an auto show in Shenzhen on June 5, 2022.
Anadolu Agency | Anadolu Agency | Getty Images
BEIJING — Chinese electric carmaker BYD saw sales more than double in May, cementing the company’s rise through the ranks of China’s top three automakers.
That’s according to data from the China Passenger Car Association which was released on Friday. China is the largest automotive market in the world.
Backed by Warren Buffett’s Berkshire Hathaway, BYD is also a battery maker that has become a major electric car brand in China – and some of its models rival Tesla in popularity.
So far this year, not only has BYD continued to dominate new energy vehicles, which include hybrid and battery-powered cars, but the company has also climbed the ranks of the top three brands in China in terms of car sales. particular.
The sales put BYD in second place in China’s passenger car market, just behind FAW-Volkswagen, with 150,009 cars sold, according to the data. FAW-Volkswagen is the German automaker’s joint venture in China that sells Audi and Volkswagen branded vehicles.
BYD’s sales marked a 159.5% year-on-year increase, while FAW-Volkswagen’s fell 10.6% from May last year. Geely was the third largest seller of passenger cars, with 73,315, down 14.5%.
Last year, BYD ranked 13th in passenger car sales. FAW-Volkswagen, SAIC Volkswagen and SAIC GM took the top three spots.
In the US passenger car market, Tesla fell short of the top three spots. Toyota ranks first in terms of sales, followed by the Chevrolet brand of Ford and General Motors, according to Sino Auto Insights.
Passenger car sales in China fell 11.8% in May from a year ago, while new energy vehicles saw sales jump 91.2%, according to the passenger car association .
For the first five months of the year, FAW-Volkswagen ranked first in terms of sales, followed by BYD and then Changan Automobile, according to the data.
In new energy vehicles, BYD ranked first, followed by General Motors’ joint venture with Wuling Motors and state-owned SAIC Motor. Tesla China ranked third.