BYD Beat Toyota In EV Sales On Its Home Turf In 2024

In a grand shift within the automotive industry, BYD, the world’s largest EV maker, achieved a historic milestone by outselling Toyota in Japan’s electric vehicle market for the first time in 2024.

After dominating the Chinese market with its affordable EV lineup, BYD has been intensifying its global expansion. The company introduced its inaugural EV in Japan, the Atto 3, in early 2023. Priced around $30,000, the Atto 3 directly competes with popular domestic models such as the Toyota RAV4 and Honda CR-V, as well as rival EVs like the Toyota bZ4X and Nissan Ariya.

In its first full year of sales, BYD managed to sell 2,223 EVs in Japan, surpassing Toyota’s 2,038 units—a significant accomplishment given Toyota’s long-standing dominance in its home market. BYD’s sales reflected a 54% year-over-year growth, while Toyota’s EV sales fell by 30% in the same period.

BYD has been strategic in its offerings, introducing models tailored to Japan’s competitive market. The Dolphin hatchback, starting at just 2.99 million yen ($19,000), has emerged as a strong competitor to traditional best-sellers like the Toyota Prius and Nissan LEAF. Similarly, the Seal sedan, BYD’s answer to the Tesla Model 3, debuted in mid-2024 and quickly became the top-selling imported EV by August. Priced at 5.28 million yen ($33,500), the Seal represents BYD’s commitment to blending affordability with advanced features.

Looking ahead, BYD plans to launch its Sealion 07 in Japan, a mid-size smart electric SUV expected to further strengthen its foothold in 2025.

The broader Japanese EV market saw a decline in 2024, with total sales dropping 33% to just under 60,000 units—the first year-over-year decrease in four years. Despite this contraction, BYD’s strong performance contrasts sharply with domestic brands. Nissan maintained a 50% market share but suffered a 50% drop in LEAF sales, while Toyota managed to sell just over 1,000 units of its bZ4X SUV, even with a modest 10% sales increase.

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