Ford Motor Company has been overtaken in global vehicle sales for the first time by Chinese electric car giant BYD, underscoring the dramatic shift under way in the global automotive industry.
Ford’s sales slipped 2 per cent last year to just under 4.4 million vehicles, while BYD sold 4.6 million, climbing to sixth place in the global rankings of car manufacturers.
The milestone is symbolic for an industry shaped by Ford’s legacy. Founder Henry Ford revolutionised mass car ownership with the Model T in the early 20th century. More than a century later, the company that defined industrial car production is being outpaced by a Chinese electric vehicle specialist.
BYD’s growth has been driven by its expanding portfolio of affordable, high-tech electric and plug-in hybrid vehicles. Among its best sellers are the SEAL U DM-i and the Dolphin electric city car, priced at under £19,000 in some markets.
In contrast, Ford has scaled back lower-cost small cars in Europe, phasing out the Ford Fiesta during the pandemic and pivoting towards higher-margin SUVs and crossovers. Its entry-level Puma now starts at more than £26,000.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
