China’s top new energy automaker, BYD, is closing the gap between itself and Ford regarding volume production.
The Chinese automaker kicked off the first month of the fourth quarter, selling half a million vehicles. BYD reported selling approximately 502,757 vehicles worldwide in October, a 66.5% increase compared to the same month last year.
In comparison, US-based automaker Ford has been averaging about 1.1 million vehicles each quarter this year. Ford reports its global sales every quarter. According to analysts, BYD’s volume production is on par with Ford’s year-to-date results.
“Getting to four million is a stunning milestone. BYD will soon be seeing Ford in the rear-view mirror,” noted Michael Dunne, referring to BYD’s annual target.
In September, Bloomberg reported that BYD raised its annual sales forecast due to a surge in plug-in hybrid vehicle purchases. The Chinese automaker increased its annual sales forecast from 3.6 million units to 4 million.
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