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Bolstered by its Dynasty and Ocean series of plug-in hybrids and pure electric cars, BYD appears set to overtake Volkswagen (ETR:VOWG_p), which was the best-selling passenger car brand in China last year. BYD, however, took that crown in February for the second month in four.
BYD has also surged past Tesla (NASDAQ:TSLA) Inc in China EV sales, accounting for 41% of so-called new energy car sales in the world’s biggest auto market for the first two months of the year. Tesla, by contrast, accounted for 8%.
Amid weakening demand, BYD also offered discounts for its Song Plus and Seal EVs in March, joining many other domestic Chinese automakers in a price war that Tesla started.
($1 = 6.8756 Chinese yuan renminbi)
