Can BYD compete with Toyota on its home turf? According to the latest sales data, BYD accounted for nearly 3% of Japan’s EV market in the first half of 2024. And that’s after launching its first EV in the region just last year.
BYD launched its first EV, the Atto 3, in Japan in January 2023. A year and a half later, the Chinese automaker is already making a big statement as it cuts into Japan’s hard-to-crack auto market.
According to the Japan Automobile Importers Association (JAIA), Japan’s imports fell 7% YOY (113,887) in the first half of 2024. As always, luxury automakers like Mercedes, BMW, and Audi held the biggest share of imports.
However, imports of electric vehicles are on the rise. The data shows EV imports were up 17% and accounted for nearly 10% (10,785) of car imports in the first half of the year.
BYD led the charge in Japan as EV sales continued climbing. BYD passenger car imports rose 184% (980) compared to 1H 2023.
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