BYD has made history by becoming the third best-selling auto brand in the world in 2024, according to the report by Cleantechnica. This is a huge leap from its position in 2023 when it ranked ninth. What makes this even more remarkable is that BYD only sells plug-in vehicles, which include fully electric cars and plug-in hybrids.
This achievement challenges the belief that electric vehicles (EVs) are not in demand. With this rapid rise, BYD is proving that the future of the auto industry is electric.
Just five years ago, in 2019, BYD ranked 49th in the world. Since then, the company has steadily climbed the ranks, selling more vehicles each year. In 2024, BYD’s sales grew by an impressive 41.6%, while other major automakers saw a decline or minimal growth. Toyota remained the global leader with a 10.7% market share, but its sales dropped by 0.7%.
Volkswagen held 5.8% of the market but saw no significant increase. Meanwhile, Honda, Ford, Hyundai, and Chevrolet all reported a decline in sales. This shift shows how BYD is outpacing competitors and gaining more customers worldwide.
In January 2025, BYD set a new record for overseas EV sales. As reported by Electrek, The company sold over 300,500 new energy vehicles (NEVs), marking a nearly 50% increase compared to January 2023. Of these, 125,377 were fully electric cars, while 171,069 were plug-in hybrids. This growth shows that more customers are choosing electric mobility.
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BYD’s commercial vehicle sales also experienced a major jump. The company sold 4,092 commercial vehicles in January 2025, a massive increase of 793% compared to the previous year. The best-selling model in BYD’s lineup was the Song Plus (both PHEV and EV versions), which sold over 51,300 units. The Seagull EV, an affordable option priced under $10,000 in China, came in second, with 41,212 units sold.
BYD is rapidly expanding its global footprint. In January 2025 alone, the company sold a record-breaking 66,336 new energy vehicles in international markets. This was an 83% increase compared to the same period in 2024 and a 16% rise from December 2024. Countries around the world are showing increased interest in BYD’s affordable and efficient electric vehicles.
To further strengthen its global presence, BYD is investing in new EV manufacturing plants. The company has already opened a plant in Thailand and is now expanding into Indonesia, Mexico, Brazil, Hungary, Turkey, and Pakistan. These new factories will help BYD produce more vehicles to meet growing demand worldwide.
BYD is not just a leader in electric vehicles but also in battery technology. It is China’s second-largest power battery maker, behind only CATL. In January 2025, the company installed 15.511 GWh of power and energy storage battery capacity, a 37% year-over-year increase. This technology is crucial for the future of EVs, as better batteries mean longer driving ranges and faster charging times.
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BYD’s rise is reshaping the auto industry. While traditional automakers continue to struggle with declining sales, BYD is growing rapidly with its focus on electric mobility. Some critics argue that BYD does not receive as much media attention as Tesla, despite its impressive achievements. If Tesla had achieved a jump from ninth to third place in global rankings, it would likely have made bigger headlines. However, BYD continues to gain recognition as the company proves its dominance in the EV market.
One investor pointed out that Tesla’s market capitalization is over ten times higher than BYD’s, even though BYD sells more plug-in hybrid and battery electric vehicles combined. This raises questions about how the stock market values automakers. With its strong sales growth and international expansion, BYD may soon catch up in market value as well.
With 2025 off to a strong start, BYD is on track to rise even higher in global rankings. Some experts predict that BYD could become the second-best-selling auto brand in the world by the end of the year. As the company continues to expand, more people worldwide will have access to affordable and efficient electric vehicles. BYD is not just shaping the future of electric mobility—it is leading the way.
Yeah, if it’s keeping the pace now, there’s no doubt that BYD will be the second best selling brand by the end of this year. I think most people haven’t realized the innovation of BYD’s DM-i, which is the best plug-in hybrid, and the most energy-efficent. Once the USA opens its market, it will be filled with BYDs.