China’s BYD claims Germany’s plug-in hybrid crown, disrupting market of iconic auto giants

One out of every seven plug-in hybrid vehicles registered in Germany in May came from BYD, as the Chinese carmaker’s registrations surged 232 per cent in Europe’s largest auto market from a year earlier.

With 6,169 vehicles registered there in May, BYD held a 2.6 per cent share of Germany’s new-car registrations, according to data from the country’s Federal Motor Transport Authority.

Of those, 4,290 were plug-in hybrids, led by the Atto 2 DM-i with 2,113 registrations – the top-selling plug-in hybrid model in Germany for the month. BYD said it was the leading brand in the plug-in hybrid segment, with a market share exceeding 15 per cent.

May was BYD’s strongest month in Germany since the company entered the market in late 2022. The momentum mirrors a broader global push, with BYD’s overseas sales surpassing 160,000 units in May – an all-time monthly record and an 80 per cent year-on-year increase.

“The worst is over,” BYD chairman Wang Chuanfu declared during the company’s annual shareholder meeting on Tuesday, saying the company aimed to become the world’s largest carmaker by volume within five years, amid growing investor concern over a slumping share price and weakening domestic sales.

Overseas markets now account for more than 41 per cent of the company’s monthly sales. In the near term, Wang said, overseas growth has put BYD on track to exceed its 2026 target of selling 1.5 million vehicles outside China.

While BYD has found success in the United Kingdom, Germany presents a far more formidable challenge. As the home market for Volkswagen, BMW, Mercedes-Benz and Audi, it remains one of the world’s most competitive arenas. Success in Germany is seen as the ultimate test of the company’s ability to compete with Europe’s established carmakers.