- BYD, a relative newcomer in the global automotive industry, has the chance to beat Ford when it comes to the number of cars shipped throughout 2024, helped by the manufacturer selling a record 500,000-plus cars last month – consisting entirely of ‘New Energy Vehicles’ (NEVs).
- During the third quarter, BYD shifted 1.13 million units globally – 40,000 more than Ford achieved in the same period.
- The manufacturer has set its overall sales target for 2024 at 4 million, and with that currently standing at around 3.2 million, the manufacturer has a real chance of meeting its goal, if November and December can maintain the shipment figures seen in October.
BYD ships more cars in Q3 2024 than Ford
The figures, as reported by Bloomberg, highlight BYD’s impressive growth, particularly over the last few years, as EV demand across the world has grown. That figure is even more remarkable when you consider that BYD only launched its first car back in 2005. The growth seen particularly in Q3 of this year means BYD’s annual shipments to date are right behind Ford, which also means there’s a chance of BYD beating Ford when it comes to overall sales across the year.
This push is likely to be just the start of BYD’s global growth, as it plans significant ambitions. Earlier this year, the company noted that it wants at least 50% of its car sales to come from outside China, by 2030. That figure currently stands at around 14%, and the firm has made multiple leadership changes to drive growth across Europe in particular. Even with the additional Chinese-made EV tariff coming into place across the European Union, that hasn’t deterred its ambitions, with the firm on track to build an EU-based EV factory in Hungary.
It’s not all been plain-sailing for BYD, however. Its rumoured plans to enter the Canadian market were put on hold after both Canada and the U.S. imposed 100% tariffs against EVs made in China. It also recently put plans for a Mexican production facility on hold, which may be partly down to president elect Trump threatening high tariffs against vehicles made in Mexico and imported into the United States.
