BYD Believed to Have Beaten Honda in 2024 Global Auto Sales

Tokyo, Jan. 26 (Jiji Press)--BYD Co. is believed to have surpassed Honda Motor Co. in global new vehicle sales in 2024, marking the first time that the Chinese electric vehicle giant beats the second-largest automaker in Japan.

BYD is growingly rapidly in the Chinese market thanks to its low vehicle prices, while Honda is struggling there, illustrating how the EV maker is changing the dynamics of the automobile industry.

BYD's global sales jumped 41.3 pct in 2024 from the previous year to 4.27 million units.

The company is also expanding its presence in Japan, where it plans to release a plug-in hybrid this year.

Honda's global vehicle sales are believed to have fallen short of four million units last year.

[Copyright The Jiji Press, Ltd.]