Investing.com -- In a significant turn of events, Chinese electric vehicle manufacturer BYD (SZ:002594) has become the top-selling vehicle brand in Singapore for the first time this year, surpassing Toyota (NYSE:TM) (7203), according to government data.
This development highlights BYD’s ongoing efforts to increase its international sales.
From January to April 2025, BYD recorded sales of 3,002 cars, constituting 20% of Singapore’s total vehicle sales.
During the same period, Toyota and BYD’s primary electric vehicle competitor, Tesla (NASDAQ:TSLA), sold 2,050 and 535 units respectively.
Previously, Toyota held the top spot in Singapore, a wealthy Asian financial hub where car population is controlled by a costly certificate system.
In 2024, Toyota sold 7,876 cars, compared to BYD’s sales of 6,191 vehicles.
However, this year, BYD has taken the lead, demonstrating its growing influence in the global electric vehicle market.
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