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Electronics and Semiconductors


CHINA’S BYD OVERTAKES FORD IN GLOBAL AUTOMOTIVE RANKINGS

Peter Brown
29 September 2023


Chinese carmaker BYD has surpassed Ford Motor Company as the fourth largest
brand in car sales in August, according to research from TrendForce.



The automotive OEMs' vehicles for the domestic and international market and has
the advantage of playing the world’s largest automotive market, China. BYD also
accomplished this as the market in China is weakening but was unaffected as its
electric vehicles saw strong demand, TrendForce said.

The top three brands in August remained the same as Toyota, Volkswagen and Honda
dominated despite the Japanese market in its seasonal slowdown. BYD was just
0.1% behind Honda in market share during the month and the company is
accelerating overseas expansion to overtaking Honda, TrendForce said.

Ford saw a contraction in sales in Europe and the U.S. with a 6.7% decline
compared to July and it dropped all the way to sixth place, according to
TrendForce forecasts. The launch of new vehicle models in the fall could boost
car sales but Ford will be impacted by several regional factors like the ongoing
strike by the United Auto Workers in the U.S. and Russia’s gasoline and diesel
export restrictions going into effect.

In China, automakers will look to boost domestic demand in the fourth quarter
through various policies like sales incentives and delivering orders promptly as
well as minimizing the impact of the reduction in demand visibility caused by
economic issues in the country, TrendForce said.

To contact the author of this article, email PBrown@globalspec.com





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