BYD’s Share of China’s Auto Market Rises to twenty%

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Once I noticed the newest new power car (NEV) insurance coverage registrations in China, my first response was simply wonderment at how a lot BYD dominates the market. However then I used to be like, “effectively, that is nothing new — BYD’s been dominating this marketplace for some time.” So, I moved on from the thought of writing about that.

Then, digging into the numbers exhibiting that BYD was shortly rising up the world auto rankings, I assumed that perhaps BYD’s dominance in China actually had grown so much lately. So, I went again by the final a number of months (6 months, to be particular) and determined to have a look at how a lot BYD’s share of the Chinese language NEV market — and the broader Chinese language auto market — had grown in that point. It was one thing value writing about.

The corporate’s ends in August actually do stand out. It rose to twenty% of the Chinese language auto market (19.9%, to be particular). That was up from 18.1% in July, which was up from 15.9% in June, which was up from 15.7% in Could. So, that’s 3 months of consecutive development, going from 15.7% to twenty%!

Maybe much more impressively, the corporate’s share of the Chinese language auto market almost doubled because the starting of the 12 months, going from 10.2% auto market share in January 2024 to 19.9% auto market share in August 2024, with nearly fixed development throughout that point interval.

Naturally, being a 100% plugin car firm, its share of the NEV market is way bigger. It reached 37% in August, up from 35.5% in June, which was up from 32.7% in June. Although, total, it’s share of the NEV market hasn’t grown almost as a lot as its share of the broader Chinese language auto market. It rose from 31% in January to 37% in August.

BYD’s development is phenomenal. How excessive can it truly go, although? Can it rise to 30% share of the Chinese language auto market or larger? We will see.

You’ll be able to play with interactive variations of the 2 charts above right here (could not show effectively on cell units):

Associated story: BYD Nearer to Changing into #1 Automaker in World Than I Thought