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(Yicai) Aug. 28 -- Chinese auto giants BYD and Geely Automobile Holdings have surpassed Honda Motor and Nissan Motor in sales worldwide for the first time in the first half of this year, mainly due to surging new energy vehicle sales and the impact of US tariffs on Japanese carmakers.
BYD's global sales reached 2.14 million units in the six months ended June 30, lifting the Shenzhen-based firm to the seventh spot from eighth last year, while Geely climbed to the eighth from tenth with 1.93 million units sold, according to data released by the companies. The pair's sales soared 33 percent and 29 percent, respectively, from a year earlier, the only two carmakers in the top 10 to see a growth rate above 10 percent.
Honda tumbled from third to ninth after its sales fell 5 percent to 1.78 million units, while Nissan saw its sales drop 6 percent to 1.61 million units and slipped out of the top 10. Japan's Toyota Motor remained first with 5.54 million units sold, followed by Germany's Volkswagen Group with 4.4 million units.
BYD's overseas NEV and pickup truck sales surged 132 percent to over 450,000 units in the first half, becoming a key growth driver for the company, which has a presence in 112 countries and regions. Geely's three brands -- Lynk & Co, Zeekr, and Galaxy -- saw NEV sales soar 126 percent to 725,000 units.
The United States and China are crucial markets for Japanese automakers. However, traditional Japanese internal combustion engine vehicles are losing ground to local NEV manufacturers in the Chinese market, while a 15 percent tariff on imports from Japan has significantly impacted their sales and performance in the US market.
In addition, Chinese NEV makers are advancing in Southeast Asia, where Japanese brands used to hold over 70 percent market share. BYD, GAC Aion, Great Wall Motor, and five other Chinese carmakers announced plans to build electric vehicle plants in Thailand last year.
In response, Japanese automakers began consolidating operations, with Suzuki Motor and Subaru closing their Thai plants. Nissan plans to partially close one factory in Thailand by next month, while Honda will consolidate its operations from its Ayutthaya plant into its Prachinburi facility this year.
Editor: Martin Kadiev