Following an 880% increase in sales in September over the same month last year, Chinese automaker BYD claims that the UK has emerged as its largest market outside of China. According to the company, the majority of its 11,271 automobiles sold in the UK last month were plug-in hybrid versions of its Seal U sports utility vehicle (SUV).
It follows data released by the Society of Motor Manufacturers and Traders (SMMT), a trade association for the automotive industry, indicating that sales of electric cars (EVs) surged to a record high in September. Unlike other significant markets like the US and the EU, the UK has not placed taxes on Chinese EVs, which makes it especially appealing to companies like BYD.
BYD, which sells models at lower prices than many of its competitors in the West, reported that its market share in the UK increased to 3.6% in September. In the upcoming months, the company plans to introduce more new electric and hybrid vehicles, according to Bono Ge, UK manager for BYD. He also mentioned that the brand’s future in Britain seemed “hugely exciting” because it recently opened its 100th store.
According to the SMMT, sales of pure battery electric vehicles reached nearly 73,000 last month, setting a new record for EV sales in the UK. It claimed that sales of plug-in hybrid vehicles increased even more quickly.
Also Read:
Demand For Safe Havens and Fed Rate Drop Bets Drive Gold to a New High
