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Global car sales in July 2024 were 7.22 million, down 1 per cent from a year earlier, with Chinese cars accounting for 31 per cent of the global market, according to the Federation of passengers.

With new energy vehicles, BYD has ranked among the top three global sales for the first time, including China. In July 2024, BYD ranked third in the world with sales of 315600 vehicles, second only to Toyota and Volkswagen, and surpassing traditional auto giants such as Honda, Ford, Hyundai and Suzuki, according to a sales list released by BYD. For comparison, the Toyota brand sold 651200 vehicles worldwide in July 2024, about double that of the BYD brand. BYD still has a long way to go to become the number one manufacturer in the world, while Volkswagen, which ranked second, sold 346200 vehicles that month. BYD's overtaking of Volkswagen is just around the corner, against a backdrop of declining traditional fuel cars.

As the world's largest manufacturer of new energy vehicles, BYD's expansion in the global market has been unstoppable. Take the 2024 Chengdu Auto Show just held as an example, BYD Automobile's BYD, look up, equation Leopard, Teng Teng full-brand lineup was unveiled, opening Hall 9 for the first time. It can be said that BYD Automobile is one of the biggest winners of this auto show and is expected to capture a larger market share in the second half of the year and even in the longer term.

At the 2024 Chengdu Auto Show, BYD official announced the new dynasty IP "Xia", and the first medium-and large-scale MPV "Xia" debuted. This new car is the sixth product line named after the Qin, Han, Tang, Song and Yuan dynasties. It is expected to sell for more than 300000 yuan. It competes with Wei Brand Gaoshan and Lantu Dreamers and other MPV. Once the new car is released, its booth is also packed.

In addition to summer, BYD also released 2025 Song L EV and Seal 06 GT, in which Seal 06 GT officially opened blind booking, with a price range of 150000 to 200000 yuan. It is understood that the seal 06 GT is based on the BYD e platform 3.0 Evo, with 4630mm/1880mm/1490mm in length, width and height and 2820mm in wheelbase.

BYD not only attracts the attention of a large number of media and consumers, but also reflects BYD's further efforts in the field of new energy vehicles, which is also its strength to enter the global market. Hedin Mobility Group, an European distributor, announced that it had signed an agreement with BYD to sell its subsidiary Hedin Electric Mobility to BYD. As a result, BYD will no longer rely on German importers, but will contact local distributors directly to take more initiative in sales in Germany. However, the deal is subject to regulatory approval and is expected to close in the fourth quarter of this year. Earlier, BYD paid for a 20 per cent stake in Thai car dealer R ê VER Automotive, and its $490 million plant in Thailand was officially completed and put into production, with an annual production capacity of about 150000 vehicles.

According to the list, BYD is the only Chinese manufacturer in the top 10. Chery ranks 18th with 71100 vehicles and Geely 20th with 63800 vehicles.

In contrast, the market position of other large automakers has begun to waver in the context of traditional fuel cars that are not easy to sell. In June 2024, BYD ranked fifth with sales of 277500 vehicles, behind Toyota, Volkswagen, Ford and Honda, and by July 2024, the sales of these big automakers all declined, including Volkswagen by about 40, 000 and Ford by about 25000. While BYD grew by about 30, 000 vehicles, the BYD brand ranked third in the world, surpassing Honda and Ford.

Although the above-mentioned global automakers are also accelerating the electrification of their products, they have achieved little success, especially in the world's largest new energy vehicle market, where the performance of these brands of new energy vehicles is indescribable. Among them, Volkswagen brand new energy vehicles are more objective, but it is still difficult to compete with mainstream Chinese manufacturers. In this context, Volkswagen has to continue to launch fuel vehicles, including Tuyue Xinrui, Passat pro, new Maiteng, Tuguan L PRO and so on, while accelerating the electrified transformation.

However, global carmakers still have a strong market position. According to the Federation of passengers, 51.14 million units were sold from January to July in 2024, an increase of 3 per cent over the same period last year. According to the global auto company sales ranking, BYD ranks eighth with 1.7141 million vehicles, lower than Toyota, Volkswagen, Honda, Ford, Hyundai, Suzuki and Nissan, among which the sales gap between BYD and Suzuki and Nissan is very small. it is expected to overtake to become the world's sixth largest car company this year. In this case, BYD only has Toyota, Volkswagen, Honda, Ford and Hyundai.

China's automobile market has a great influence on the world automobile market. According to historical records, Chinese cars accounted for about 30 per cent of the world from 2016 to 2018, falling to 29 per cent in 2019, but still had an absolute advantage, with a stable share of more than 30 per cent in 2020-2023, of which 33.8 per cent in 2023. From the perspective of the global automobile market, China's automobile performance is relatively strong in 2024, with Chinese car companies such as BYD, Chery, Geely and Changan performing most prominently. The rapid development of new energy has brought vitality to China's automobile industry. The development of electrification has also led to the gradual decline of some international car companies, and the performance of Asian groups represented by Toyota and Kia is still poor.

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