According to the Nikkei, BYD surpassed Honda and Nissan to become the world’s 7th largest car manufacturer in global new car sales for April to June 2024. Driven by the popularity of low-cost electric vehicles (EVs), BYD’s sales are approaching those of the “Big Three” American automakers. MarkLines data shows that due to certification issues and reduced demand for EVs, sales of leading automakers such as Toyota (2.63 million units) and Volkswagen Group (2.24 million units) have declined. BYD’s sales reached 980,000 units, a 40% increase from the previous year, with overseas sales growing about threefold to 105,000 units. BYD’s quarterly sales surpassed Honda, which experienced a 5% global sales decline to 920,000 units. The only Japanese automaker ahead of BYD is Toyota.