Latest news with #BYDAuto
Yahoo
4 days ago
- Automotive
- Yahoo
Malaysia vehicle market falls 6% in June
Malaysia's new vehicle market declined by almost 6% to 54,832 units in June 2025, from 58,142 units a year earlier, according to registration data released by the Malaysian Automotive Association (MAA). GDP growth in the country slowed to 4.4% year-on-year in the first quarter of 2025, from a downwardly revised 4.9% in the fourth quarter of 2024, reflecting slowing export growth and slightly weaker domestic consumption growth. Second-quarter growth is also expected to be weak. Malaysia's central bank cut its benchmark interest rate by 25 basis points to 2.75% at July 2025, the first cut since its last hike in May 2023, as it looks to stimulate domestic growth. In the first six months of 2025, the market declined by 5% to 372,636 units from a record high of 391,451 units in the same period last year, with light passenger vehicle sales falling by 3% to 347,084 units while commercial vehicle sales plunged by 21% to 26,552 units. Separate industry data showed that sales of battery electric vehicles (BEVs) increased by 61% to 17,143 units year-to-date, driven mainly by China's BYD Auto and its Denza brand with a combined 6,015 units, and the recently-launched Proton with 4,000 sales, while Tesla sold 2,400 units. Total vehicle production in the country fell by 10% to 392,264 units in the first half of the year. Market leader Perodua reported a 2% sales decline to 166,188 units year-to-date, slightly outperforming the overall market, with the Bezza and Axia being the country's two most popular models with 46,175 and 40,650 sales respectively. Proton's global sales fell by 2% to 72,156 units in the first six months of 2025, including 2,250 exports. The Saga was by far its best-selling model with 31,720 sales, followed by the Geely-based X50 compact SUV with 11,350 units, and the Geely-based S70 sedan with 9,345 units. UMW Toyota reported a 6% decline in first-half sales to 44,286 units, with the Vios its best-selling model with 13,390 sales, followed by the Hilux pickup truck with 11,320 units. "Malaysia vehicle market falls 6% in June" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
04-07-2025
- Automotive
- Yahoo
BYD begins production in Brazil
China's BYD Auto has begun production at its newly-built passenger vehicle assembly plant in Bahia State, Brazil, as the company continues its rapid global expansion. The opening of the plant comes just fifteen months after the company held the ground-breaking ceremony, in March 2024, and is a few months ahead of schedule. BYD said it is investing BRL 5.5 billion (US$ 1 billion) in the facility, which has a designated production capacity of 150,000 battery-powered and plug-in hybrid vehicles per year. It is located near the coastal city of Camaçari, with easy access to the Port of Aratu, and is expected to create around 20,000 jobs directly and indirectly across the local supply industry. BYD's executive vice president, Stella Li, confirmed in a statement: 'From breaking ground to the first car rolling off the production line, it has only taken us 15 months. This achievement heralds a new chapter for BYD and sustainable transportation in Latin America." The first model to go into production was the Seagull, renamed the Dolphin Mini for the local market, which the company claims is the country's best-selling all-electric vehicle model with 34,000 sales to date. Production of the Song Pro and Chaser 05 (King) is scheduled to go into production in the next few weeks. BYD first entered the Brazilian market in 2021 and has sold a total of more than 130,000 vehicles here so far. In the first quarter of 2025, the company sold a total of 20,000 new energy vehicles in the country. Alexandre Baldy, head of Sales and Marketing at BYD Auto Brasil, said in a statement: 'We are transforming Camaçari into a powerhouse for the future. This manufacturing complex represents a victory for innovation, sustainability, and trust in Brazil. BYD has brought with it technology, investment and a purpose: to be part of the next chapter of the national automotive industry. What we are seeing today in Bahia is a milestone in the reindustrialization of the country and a major technological leap. BYD is now a company made by Brazilians for Brazilians.' BYD said the Camaçari plant is equipped with cutting-edge technology, including intelligent automation which controls all phases of production. The company claims the facility is one of the most advanced in the world, with intelligent sequencing systems which prioritise production of models for which demand is highest. Each vehicle can be tracked in real time as it moves along the line. BYD's global sales increased by 33% to 2.146 million vehicles in the first half of 2025, including 464,000 in over 110 overseas markets. "BYD begins production in Brazil" was originally created and published by Investment Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
19-06-2025
- Automotive
- Yahoo
Malaysia vehicle market falls 3% in May
Malaysia's new vehicle market declined by 3% to 68,007 units in May 2025 from 70,254 units a year earlier, according to registration data released by the Malaysian Automotive Association (MAA). Economic growth in the country slowed to 4.4% year-on-year in the first quarter of 2025 from a downwardly revised 4.9% growth in the fourth quarter of 2024, reflecting slowing export growth and slightly weaker domestic consumption growth. Malaysia's central bank has kept its benchmark interest rate unchanged at 3.0% for the last two years. In the first five months of 2025 the market declined by 5% to 316,737 units, from record sales of 333,309 units in the same period last year. Light passenger vehicle sales fell by 3% to 295,213 units in this period while commercial vehicle sales plunged by 23% to 21,524 units. Separate industry data showed that sales of battery electric vehicles (BEVs) increased by 59% to 13,871 units year-to-date, driven mainly by China's BYD Auto and its Denza brand with 4,880 units combined, and the recently-launched Proton with 3,400 sales, while Tesla sold 1,810 units. Total vehicle production in the country fell by 12% to 299,886 units in the five-month period. Market leader Perodua reported a 1.5% decline to 143,860 units year-to-date, slightly outperforming the overall market. Proton's global sales fell by 4% to 60,187 units in the first five months of 2025, including 1,327 units exported. The Saga was by far its best-selling model with 26,511 sales, followed by the Geely-based X50 compact SUV with 9,704 units, and the Geely-based S70 sedan with 7,944 units. The company confirmed that production of the Saga began at its CKD plant in Egypt in February, with the aim of supplying markets across North Africa. "Malaysia vehicle market falls 3% in May" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
05-06-2025
- Automotive
- Yahoo
BYD global sales rise 15% in May
Chinese automaker BYD Auto reported a 15% year-on-year increase in global sales of new energy vehicles to 382,476 units in May 2025, up from 331,817 units a year earlier, driven by strong overseas demand and heavy discounting in its home market. Sales of passenger vehicles increased by 14% to 376,930 units last month, with battery electric vehicle (BEV) sales surging by 40% to 204,369 units, while plug-in hybrid vehicle (PHEV) sales fell by over 6% to 172,561 units and commercial vehicle sales more than tripled to 5,546 units. Overseas sales increased by 137% to 89,047 units. In the first five months of the year, the company sold 1,763,369 vehicles globally, up by almost 39% on the same period last year. This includes a 37% increase in passenger vehicle sales to 1,735,643 units, with BEV sales rising by 41% to 816,497 units, while PHEV sales rose by 34% to 919,146 units. Commercial vehicle sales surged more than fivefold to 27,726 units. Overseas sales more than doubled to 374,217 units in the five-month period, as the company continued to expand into new markets. "BYD global sales rise 15% in May" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hindu
28-05-2025
- Business
- The Hindu
Brazilian prosecutors sue China's BYD over allegations of slave-like labour conditions
Brazilian prosecutors said on Tuesday (May 27, 2025) 'they are suing Chinese electric vehicle giant BYD Auto and two of its contractors over allegations of using workers in slave-like labour conditions and engaging in international human trafficking.' The labour prosecutors' office in Bahia state said in a statement that 'they are seeking 257 million Brazilian reais ($50 million) in damages from BYD, China JinJiang Construction Brazil and Tecmonta Equipamentos Inteligentes.' The lawsuit stems from an investigation that led to the rescue last year of 220 Chinese workers from the construction site of BYD's new factory in the city of Camacari. Prosecutors said 'the workers were brought to Brazil under false pretenses and with visas that did not match their jobs.' 'Working conditions were extremely degrading. Five settlements were kept by BYD, JinJiang and Tecmonta. Some workers slept on beds without mattresses and had their personal belongings alongside with their food,' the prosecutors' office said. 'There were few bathrooms, which were not gender-assigned. In one of the settlements, there was one toilet for 31 people, forcing workers to wake up at 4 a.m. for their personal hygiene before their work.' BYD said in a statement it is collaborating with the investigations from the start and will speak about the case during the course of the probe. It also said it respects Brazil's laws and international labour regulations. In December, a spokesperson for the Chinese automaker objected to reports about poor conditions at the construction site in Brazil, saying the allegations were aimed at 'smearing' China and Chinese brands.
