BYD Surpasses Volkswagen As China's Leading Brand

"BYD is very, very strong," Volkswagen Group CEO Oliver Blume said this month at a press conference at the Shanghai Motor Show. "In the end, volume isn't everything. We want to have a successful business, and being the best international group in China is more important." The strong performance is not limited to China alone. BYD sold 1.86 million vehicles last year, more than it had in the previous four years combined. The company sold nearly 550,000 cars globally in the first quarter of 2023, a convincing result of the company's recent push for overseas sales in markets such as Europe, Latin America, and Asia, including Malaysia.

The increase in sales reflects the growing influence of Chinese brands in the electrification era. In the first quarter, BYD accounted for two out of every five new-energy vehicle sales in China, while EVs accounted for only 6% of Volkswagen's sales. This year, BYD hopes to sell at least three million vehicles worldwide. To date, the company has sold over 2,000 units of the BYD Atto 3 in Malaysia, with half of those sold within the first 100 days.