BYD, the leading Chinese electric vehicle (EV) manufacturer, has reported a significant milestone in its international expansion, securing a 2.7% share of the Japanese EV market. In the first half of this year, BYD sold 1,084 vehicles in Japan, a figure that may seem modest but is indicative of a growing presence in a market traditionally dominated by domestic automakers.

According to the Japan Automobile Importers Association (JAIA), the total import of vehicles in the first half of 2024 was 113,887 units, a 7% decrease from the previous year. However, the sales of Battery Electric Vehicles (BEVs) have risen to 9.5% of the total, with a total of 10,785 cars sold, marking a two percentage point increase from last year. This places BYD at a remarkable 10% share of the total number of imported EVs.

The domestic Japanese EV market saw a 39% year-on-year decline in sales, with preliminary data showing 29,282 units sold during the same period. This downturn is largely attributed to a 38% drop in sales of the Nissan Sakura, a micro EV that parallels the Wuling Hongguang Mini EV in terms of popularity.

Despite the overall EV market share in Japan’s passenger car segment dipping to 1.6%, a 0.7 percentage point decrease from the previous year, imported BEVs hold a robust 27% share of the market. Argus, a market intelligence firm, has noted that foreign brands have taken the lead in the Japanese EV market, offering a broader range of models compared to domestic producers.

BYD’s journey in Japan began on January 31, 2023, with the launch of the Atto 3 SUV. The company has since introduced the Dolphin hatchback in September of last year and the Seal sedan in June of this year, expanding its product lineup to cater to diverse consumer preferences.

BYD’s sales in Japan have surged by 88% year-on-year in the first half of this year, propelling the company from nineteenth to fourteenth in the sales rankings of importers to Japan. With a 60% year-on-year increase in June sales, reaching 149 units, BYD is showing no signs of slowing down. The company is also expanding its retail presence, aiming to establish 90 sales outlets by the end of the year, up from the current 55.

BYD has set an ambitious target to sell 30,000 vehicles in Japan by 2025, a testament to its confidence in the Japanese market and its commitment to providing innovative and sustainable transportation solutions. With its current momentum and strategic expansion plans, BYD is poised to become a major player in the Japanese EV landscape.

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