While Ford’s US sales rose last year, it has lost ground in Europe and particularly China, where domestic manufacturers like BYD, Xiaomi Corp and Geely Automobile Holdings Ltd have grabbed market share from foreign automakers with affordable, tech-laden EVs.
Ford has weathered a difficult EV transition, announcing US$19.5 billion in charges to overhaul its strategy.
BYD has also made inroads into markets in Europe, South America and Asia, with exports reaching 1.05 million in 2025. It aims to increase that to 1.3 million this year.
Still, it faces a more challenging 2026 at home, as government subsidies are wound back and regulators warning manufacturers face severe penalties if they keep up their aggressive discounting.
See also: Evergrande liquidators said to pick state-owned tourism firm for exclusive sale talks — Bloomberg
Overall, Toyota Motor Corp held on to the No 1 position for the sixth year in a row, with global sales rising 4.6% to 11.3 million.
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