BYD steps on the accelerator after breaking its sales record with 300,000 electric cars

The Chinese automobile company BYD, leader in the electric car sector in the country, managed to break a monthly sales record in the month of October. For the first time, it surpassed the barrier of 300,000 plug-in vehicles in just 30 days. Through a statement reported by Efe, the company also celebrated the manufacture of its 6 millionth plug-in car.

In August, 5 million units were manufactured, which means that one million cars have been manufactured in just three months. The automotive firm, which no longer manufactures cars powered by combustion engines, noted earlier this month that its sales had increased by almost 70% year-on-year during the first ten months of the year, which meant reaching 2.4 million cars and 301,833 vehicles in October alone.

In addition to its presence in China, BYD has been investing heavily in Latin America for years, where it recently confirmed an agreement to build a complex of three factories in Brazil, and also has a presence in the Spanish market.

Sales of Chinese cars are gaining ground.

A few months ago it was learned that BYD would also be analyzing locations to install a car factory or even a gigafactory in Spain, which could also go on to manufacture batteries and components for the brand.

They broke records in the quarter

On the other hand, and at a general level, large automobile companies broke profit records from April to June. In addition to the Chinese brands, other Asian manufacturers such as Toyota continue to dominate the market in Spain, achieving the milestone of being in 2022 the first Asian brand to lead the registration market in Spain, with 73,505 vehicles, 17.9% more than in 2021. In 2023, the Japanese brand continues to be the best-selling, with 54,022 units registered so far this year, 11.2% more than in 2022.

Last year, another Asian brand also achieved a milestone like MG: the Tucson model from the South Korean Hyundai was the best-selling car in all of 2022 with 21,985 registered units, despite being an expensive car for the preferences of many Spaniards ( 30,000 euros).

China, the largest producer and exporter of cars in the world

China plans to manufacture more than 26 million vehicles this year, according to McKinsey, a consulted figure that demonstrates the muscle of the Asian country compared to the rest of the world. According to Anfac data, Spain purchased Chinese vehicles in 2022 for more than 1,399 million euros, 1,905% more than the previous year, when only 68 million were spent on them. This represents 7.3% of the automobile market share in Spain.

In the first half of the year, China also surpassed Japan as the country that exports the most automobiles in the world, with 2.34 million cars exported, according to Chinese authorities, compared to just over 2 million for Japanese brands, and it is expected that the Asian giant will exceed 5 million exports by the end of the year. Despite these figures, in Spain the purchase volume of Japanese cars continued to increase by 23% to 1,051 million, and in the case of other Asian cars, such as South Koreans, they grew by 28%.