BYD's sales growth is primarily driven by the increasing demand for its affordable electric vehicles, allowing it to surpass traditional Japanese automakers like Honda and Nissan during the second quarter.
With a remarkable 40% increase in sales to 980,000 units in Q2 2024, BYD's rapid rise is largely attributed to its significant boost in international sales and strong performance in its domestic market.
Despite facing tariff challenges, including a 100% tariff from the United States on Chinese EV imports, BYD remains focused on expanding in the European market, where tariffs are comparatively lenient.
By tripling its overseas vehicle sales and achieving a 35% domestic sales increase in June 2024, BYD emphasizes its strategic growth engine through both international expansion and satisfying domestic demand.
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