"The milestone is symbolic for an industry shaped by Ford's legacy. Founder Henry Ford revolutionised mass car ownership with the Model T in the early 20th century. More than a century later, the company that defined industrial car production is being outpaced by a Chinese electric vehicle specialist. BYD's growth has been driven by its expanding portfolio of affordable, high-tech electric and plug-in hybrid vehicles."
"Felipe Munoz, an independent automotive analyst, said the trend was widely anticipated. "BYD is still in expansion mode. Even if sales in China slow, it's relying on exports to grow," he said. "Ford, meanwhile, remains heavily dependent on the US, where growth is modest, and has only a minor presence in China. Europe is also stagnant. This divergence is likely to continue.""
BYD sold 4.6 million vehicles last year, overtaking Ford, which sold just under 4.4 million, and moving BYD to sixth place globally. BYD expanded through affordable, high-tech electric and plug-in hybrid models such as the SEAL U DM-i and the Dolphin city car, priced under £19,000 in some markets. Ford scaled back low-cost small cars in Europe, phased out the Fiesta, and reoriented toward higher-margin SUVs and crossovers, with an entry-level Puma above £26,000. Ford's US sales rose while Europe and China weakened, and Ford took a $19.5bn charge to scale back EV production amid weak demand. BYD is relying on exports to continue growth while Ford remains concentrated in North America.
Read at Business Matters
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