As we speak, a report emerged stating that Chinese automaker BYD acquired 1,084 vehicles in Japan during the initial six-month period of this year. While often overlooked, BYD has quietly secured a significant 2.7% stake in Japan’s electric vehicle (EV) market.
Japanese car importers’ affiliation statistics reveal a notable decline in shipments, with 113,887 vehicles imported during the first half of 2024, a 7% decrease compared to the same period last year. Despite initial reservations, gross sales of battery-electric vehicles (BEVs) have surged, accounting for nearly 9.5% of the market, a significant two-percentage-point increase over the previous year, with a total of 10,785 vehicles sold. This suggests that BYD accounts for approximately 10% of the total range of imported electric vehicles.
Although these gross sales may seem modest, Japanese automakers shouldn’t dismiss their electric vehicle (EV) initiatives just yet. According to preliminary data from the Car Sellers Association, Japan Light Motor Car and Motorcycle Association, and Japan Automobile Importers Association, gross sales of home EVs during the same period totalled 29,282. A staggering 61% drop from previous year’s figure. The decline was primarily attributed to a significant 38% decrease in the gross sales of the Nissan Sakura, a five-door micro electric vehicle bearing similarities to the Wuling Hongguang Mini EV. Innovative electric vehicles like the Sakura account for a substantial 13,540 models of total sales, with the Sakura alone accounting for an impressive 90% of sunshine passenger EV sales.
Electric vehicles (EVS) captured 1.6% of Japan’s passenger car market in the first half of 2022, representing a decline of 0.7 percentage points from the previous year. While imports typically hold a relatively minor position in Japan’s automotive market, they occupy almost 27% of the country’s battery-electric vehicle (BEV) market.
Overseas manufacturers allegedly hold sway in Japan’s electric vehicle (EV) market, according to Argus, a reputable market intelligence firm. According to a consultant with the Japan Car Importers Association, foreign companies offer a broader selection of models compared to domestic manufacturers.
BYD launched its marketing efforts in Japan on January 31, 2023, introducing the Atto 3 SUV to the market. Since its inception, BYD has expanded its product portfolio by launching the Dolphin hatchback in September last year and the Seal sedan in June this year?
Chinese automaker BYD’s gross sales in Japan surged 88% year-on-year in the first half of the year, marking a significant increase in its presence in the country. This enhancement helped BYD jump from 19th place to 14th place in Japan’s importer sales rankings. Gross sales in June reached 149 models, marking a significant 60% year-over-year increase, indicating continued momentum. By 2023, BYD aims to expand its network of retail partners in Japan to 90 gross sales outlets, a significant increase from the current 55. Moreover, as previously reported, BYD aims to make a significant impact in Japan’s market by targeting gross sales of 30,000 units in 2025.
Sources: Quick Expertise, Argus
