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China's BYD overtakes VW and BMW to claim Germany's plug-in hybrid crown

China's BYD overtook Volkswagen and BMW in Germany's plug-in hybrid market in May with 11,240 deliveries and a 22.4% share. The Chinese manufacturer's annual growth in Germany reached 348%.

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Shanghai port container terminal on an overcast morningPhoto: Rafael Rodrigues / Pexels
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According to Germany's Federal Motor Transport Authority (KBA) May data, BYD's Seal U DM-i and Song Plus PHEV models took 22.4% of total German plug-in hybrid sales. Volkswagen's Tiguan PHEV trailed at 18.7% and BMW's X1 xDrive25e at 16.2%. BYD's May sales rose 41% month-on-month and 348% year-on-year.

Volkswagen CEO Oliver Blume said in Wolfsburg: "Chinese competitive pressure is changing the price-value equation seriously; BYD models' €35,000 price advantage is transforming consumer decisions." Bernstein analyst Daniel Roeska cut his VW rating to underperform. BYD chair Wang Chuanfu told investors in Hong Kong the firm has raised its end-2026 target from 50,000 to 80,000 vehicles.

BYD shares climbed 4.8% in Hong Kong, while BMW fell 3.1% and Volkswagen 4.2% in Frankfurt. German Association of the Automotive Industry (VDA) president Hildegard Müller called on Brussels for additional anti-dumping measures. This is not investment advice.

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Source: South China Morning Post
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This article is an AI-curated summary of the original story published by South China Morning Post. The illustration is a stock photo by Rafael Rodrigues from Pexels and is not from the original story.

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