Last year, BYD became the best-selling brand in China, the first time a Chinese brand had held the position since the start of joint ventures. BYD has now gone one better and become the largest automotive group in China. In September, BYD officially replaced SAIC in the top spot.
SAIC’s claim to the top spot was always rather dubious, thanks to its dependence on the Volkswagen, General Motors, and SAIC-GM-Wuling joint ventures, with SAIC’s wholly owned brands making up a relatively small proportion of total sales. It should be noted that with BYD, this figure includes not just the BYD brand but also Denza, Fang Cheng Bao, and Yangwang.
BYD Group sales reached 419,426 in September, a 45.32% year-on-year increase. Cumulative sales, meanwhile, were 2,747,875 units, a 32.13% year-on-year increase.
As previously reported, SAIC is not having a good year in 2024. Although part of the decrease is due to a collapse in sales from the General Motors joint venture, the problems are more systemic and also extend to SAIC’s larger own brands, with only the Volkswagen and Wuling joint ventures seeming to be remaining relatively stable.
SAIC’s woes extended into September, with sales down 35.03% year on year at 313,260 units. This meant that cumulative sales from January to September were below those of BYD and amounted to 2,649,333 units. Cumulative sales are down 21.5% year on year.
When measured using production figures rather than sales, there was a similar result of BYD dethroning SAIC from its crown.
Editor’s note:
Currently, BYD has only just pipped SAIC to the top spot, but it is likely that by the end of the year, the lead will be far more significant. Sales of NEVs in China tend to be greater in the second half of the year and will likely continue to accelerate towards December. NEVs are, of course, BYD’s forte, whereas in 2024, SAIC seems to be struggling in this area.
Source: Fast Technology
