BYD Surges Further Ahead of Rivals at Home

BYD led the Chinese market with more than 2.7 million passenger cars sold in 2023, jumping 50% and outpacing FAW-Volkswagen and Geely amid a year-end marketing blitz

Chinese automaker BYD Co. Ltd. surged further ahead of its rivals on its home turf last year as sales jumped 50%, with competition looking set to heat up again in 2024 in the world’s largest auto market.

BYD led the Chinese mainland market with more than 2.7 million passenger cars sold in 2023 and a 12.5% share, up from 1.8 million vehicles and an 8.8% share in 2022, according to data from the China Passenger Car Association (CPCA).