# BYD set to be China’s top-selling car brand for Nov, Tesla gains -data
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-11-30
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: BYD outsells Volkswagen in China in November, Tesla sales
Meta Description: BYD emerges as top-selling car brand in China, surpassing Volkswagen with a significant increase in sales in November. Find out more here.
URL: https://financedigest.com/byd-set-to-be-chinas-top-selling-car-brand-for-nov-tesla-gains-datahtml

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SHANGHAI (Reuters) – BYD was the top-selling car brand in China in the first four weeks of November, brokerage data showed, outperforming the Volkswagen brand in a reversal that highlights the pressure on legacy brands in the world’s largest auto market.

Tesla’s retail sales in China also nearly doubled in November, from a year earlier, after the U.S. automaker [cut prices](https://www.financedigest.com/tesla-expands-discounts-with-price-cuts-in-europe-singapore-israel.html "Tesla expands discounts with price cuts in Europe, Singapore, Israel") and offered incentives on its Model 3 and Model Y, the data from China Merchants Bank International (CMBI) showed.

[Retail sales](https://www.financedigest.com/uk-retailers-turn-positive-on-sales-hopes-after-bleak-winter.html "UK retailers turn positive on sales hopes after bleak winter") for BYD totaled 152,863 vehicles from Nov. 1 to Nov. 27, logging a nearly 83% increase in average daily [sales compared to the same period](https://www.financedigest.com/uks-wetherspoon-posts-13-1-rise-in-sales-for-25-wk-period.html "UK’s Wetherspoon posts 13.1% rise in sales for 25-wk period") a year earlier, according to the data.

BYD’s tally was higher than Volkswagen’s retail [sales of 143,602 retail sales and Toyota Motor](https://www.financedigest.com/indias-tata-motors-jumps-to-a-7-month-high-on-strong-q4-jlr-sales.html "India’s Tata Motors jumps to a 7-month high on strong Q4 JLR sales") Corp’s 115,272, which were 0.3% and 0.5% lower, respectively, on the year.

However, the Volkswagen AG group still outsold BYD, when the 36,847 [units sold under the Audi brand are included](https://www.financedigest.com/stanchart-weighing-options-including-sale-of-aircraft-lessor-unit.html "StanChart weighing options, including sale, of aircraft lessor unit").

If the retail [sales trend holds for the full month](https://www.financedigest.com/uk-new-car-sales-rise-17-in-march-best-ever-month-for-evs.html "UK new car sales rise 17% in March; best ever month for EVs"), it would be the first time that BYD, which only began making cars in 2003, has topped the sales charts in China and the first time a company with a line up of plug-in hybrids and pure electric vehicles (EVs) has led the charts.

Automakers have been bracing for a wider downturn in [China’s market on the view that the effect of incentives is waning and that the country’s zero-COVID policies](https://www.financedigest.com/dutch-responds-to-us-china-policy-with-a-plan-to-curb-semiconductor-tech-exports.html "Dutch responds to US China policy with a plan to curb semiconductor tech exports") have kept consumers away from showrooms and weighed on sentiment as the economy slows.

Overall retail sales of [cars](https://www.financedigest.com/mercedes-posts-rise-in-q1-sales-boosted-by-evs-premium-cars.html "Mercedes posts rise in Q1 sales boosted by EVs, premium cars") produced in China fell 7% year-on-year in terms of average daily sales in the first four weeks of November, compared to the 2% decline in the first three weeks of October, according to CMBI data.

Established global carmakers, other than Tesla, have been losing sales and market [share tumble in China to their domestic rivals who win consumers with a wider range of affordable EVs and features like in-car entertainment and autonomous drive](https://www.financedigest.com/car-sharing-industry-revs-up-with-wembley-park-residents-in-the-driving-seat.html "Car sharing industry revs up with Wembley Park residents in the driving seat").

Stellantis said in October that its Jeep joint venture in China would [file for bankruptcy](https://www.financedigest.com/movie-chain-operator-cineworld-files-for-u-s-bankruptcy.html "Movie chain operator Cineworld files for U.S. bankruptcy"), the first JV failure by a foreign brand in the EV era.

Other [established brands](https://www.financedigest.com/2016-the-fight-back-of-the-established-brand.html "2016 – THE FIGHT BACK OF THE ESTABLISHED BRAND"), including Volkswagen, General Motors, Ford and Hyundai, have seen plant usage in China fall by between 30 percentage points and over 50 percentage points in the past five years.

(Reporting by Zhang Yan, Brenda Gohá¹…; Editing by Savio D’Souza)


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