BYD is China’s best-selling car brand for the first time, dethroning Volkswagen as it continues its meteoric rise.
The Warren Buffett-backed electric-vehicle maker leapfrogged its German rival in the first quarter, selling more than 440,000 cars in China, according to automotive industry data compiled by Bloomberg.
BYD Chairman Wang Chuanfu said last month he aimed to overtake VW by the end of 2023.
VW had been the best-selling brand among automakers in China since at least 2008, when data from the China Automotive Technology and Research Center became available. Vehicle sales under the VW brand totaled 427,247 units in China in the first quarter, with EVs accounting for only 6 percent.