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Yahoo
4 days ago
- Automotive
- Yahoo
Malaysia vehicle market falls 3% in May
Malaysia's new vehicle market declined by 3% to 68,007 units in May 2025 from 70,254 units a year earlier, according to registration data released by the Malaysian Automotive Association (MAA). Economic growth in the country slowed to 4.4% year-on-year in the first quarter of 2025 from a downwardly revised 4.9% growth in the fourth quarter of 2024, reflecting slowing export growth and slightly weaker domestic consumption growth. Malaysia's central bank has kept its benchmark interest rate unchanged at 3.0% for the last two years. In the first five months of 2025 the market declined by 5% to 316,737 units, from record sales of 333,309 units in the same period last year. Light passenger vehicle sales fell by 3% to 295,213 units in this period while commercial vehicle sales plunged by 23% to 21,524 units. Separate industry data showed that sales of battery electric vehicles (BEVs) increased by 59% to 13,871 units year-to-date, driven mainly by China's BYD Auto and its Denza brand with 4,880 units combined, and the recently-launched Proton with 3,400 sales, while Tesla sold 1,810 units. Total vehicle production in the country fell by 12% to 299,886 units in the five-month period. Market leader Perodua reported a 1.5% decline to 143,860 units year-to-date, slightly outperforming the overall market. Proton's global sales fell by 4% to 60,187 units in the first five months of 2025, including 1,327 units exported. The Saga was by far its best-selling model with 26,511 sales, followed by the Geely-based X50 compact SUV with 9,704 units, and the Geely-based S70 sedan with 7,944 units. The company confirmed that production of the Saga began at its CKD plant in Egypt in February, with the aim of supplying markets across North Africa. "Malaysia vehicle market falls 3% in May" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
05-06-2025
- Automotive
- Yahoo
BYD global sales rise 15% in May
Chinese automaker BYD Auto reported a 15% year-on-year increase in global sales of new energy vehicles to 382,476 units in May 2025, up from 331,817 units a year earlier, driven by strong overseas demand and heavy discounting in its home market. Sales of passenger vehicles increased by 14% to 376,930 units last month, with battery electric vehicle (BEV) sales surging by 40% to 204,369 units, while plug-in hybrid vehicle (PHEV) sales fell by over 6% to 172,561 units and commercial vehicle sales more than tripled to 5,546 units. Overseas sales increased by 137% to 89,047 units. In the first five months of the year, the company sold 1,763,369 vehicles globally, up by almost 39% on the same period last year. This includes a 37% increase in passenger vehicle sales to 1,735,643 units, with BEV sales rising by 41% to 816,497 units, while PHEV sales rose by 34% to 919,146 units. Commercial vehicle sales surged more than fivefold to 27,726 units. Overseas sales more than doubled to 374,217 units in the five-month period, as the company continued to expand into new markets. "BYD global sales rise 15% in May" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hindu
28-05-2025
- Business
- The Hindu
Brazilian prosecutors sue China's BYD over allegations of slave-like labour conditions
Brazilian prosecutors said on Tuesday (May 27, 2025) 'they are suing Chinese electric vehicle giant BYD Auto and two of its contractors over allegations of using workers in slave-like labour conditions and engaging in international human trafficking.' The labour prosecutors' office in Bahia state said in a statement that 'they are seeking 257 million Brazilian reais ($50 million) in damages from BYD, China JinJiang Construction Brazil and Tecmonta Equipamentos Inteligentes.' The lawsuit stems from an investigation that led to the rescue last year of 220 Chinese workers from the construction site of BYD's new factory in the city of Camacari. Prosecutors said 'the workers were brought to Brazil under false pretenses and with visas that did not match their jobs.' 'Working conditions were extremely degrading. Five settlements were kept by BYD, JinJiang and Tecmonta. Some workers slept on beds without mattresses and had their personal belongings alongside with their food,' the prosecutors' office said. 'There were few bathrooms, which were not gender-assigned. In one of the settlements, there was one toilet for 31 people, forcing workers to wake up at 4 a.m. for their personal hygiene before their work.' BYD said in a statement it is collaborating with the investigations from the start and will speak about the case during the course of the probe. It also said it respects Brazil's laws and international labour regulations. In December, a spokesperson for the Chinese automaker objected to reports about poor conditions at the construction site in Brazil, saying the allegations were aimed at 'smearing' China and Chinese brands.
CNA
28-05-2025
- Automotive
- CNA
BYD plans to roll out smart driving system in overseas markets soon, including Singapore
SHENZHEN: Chinese electric vehicle giant BYD plans to make its intelligent driving technology, known as 'God's Eye', available in overseas markets like Singapore soon. The world's largest EV maker told CNA that while it cannot commit to a specific timeline, the technology could be rolled out progressively, with certain features made available first instead of all at once. Singapore, where BYD has become the top-selling car so far this year, will get some smart driving features by next year at the latest, said Liu Xueliang, general manager of the company's Asia Pacific auto sales division. These features include automated parking, adaptive cruising and remote parking, where a driver can use their mobile phone to park or drive their vehicle. The system relies on different cameras, radar and lidar sensors to do this, though the specific configuration is based on different tiers. Liu noted that BYD first needs to test its assisted-driving system on actual roads and 'constantly evolve the algorithm', given the differing road conditions in various countries. 'Of course, there are also some habits of local consumers, including some (assisted) self-driving, parking, and highway conditions,' he added. On top of that, he noted that automakers need to adhere to each country's laws and regulations on unmanned driving, which are rapidly evolving as autonomous vehicle technology advances. 'We respect the laws and regulations of any market and need to pass their rigorous certification system,' Liu said. 'When everything is mature, we will gradually push this to the market in the short term.' SHIFTING GEARS This comes as China seeks new markets for its vehicles to boost its economic growth and exports, amid ongoing trade tensions and accusations of overcapacity by the likes of the United States and Europe. Liu also said the highly competitive EV market in China is shifting gears from vehicle electrification. 'Now, the Chinese market is in the stage of intelligence competition,' he pointed out to CNA during a media visit to the firm's headquarters in Shenzhen. China, which is the world's largest automotive market, has seen a years-long price war where carmakers have been slashing prices and offering features previously perceived as premium, such as smart assisted driving, for free. BYD announced in February that it will offer the 'God's Eye' smart driving system, which was first unveiled in 2023, in nearly all of its vehicles at no additional cost to buyers. The cheapest model it offered was the popular Seagull hatchback, priced at US$9,555 at the time. Last weekend, the company announced a fresh round of subsidies and incentives for more than 20 models, reducing the price of the Seagull to about US$7,800. BYD's move to integrate smart features in almost all its future vehicles was part of efforts to challenge its domestic rivals like Xpeng as well as American EV maker Tesla. LARGER SCALE THAN COMPETITORS Xpeng and Nio have announced smart features in their cars as well, but both Chinese EV makers sold about 100,000 to 200,000 vehicles each last year – significantly fewer than BYD, which sold more than 4 million vehicles globally in 2024. Experts said this scale brings not just cost savings, but other benefits too. Tu Le, founder and managing director of consulting firm Sino Auto Insights, said the data BYD can collect from the cars it sells will enable the technology to 'get better very fast'. 'Some of these other car companies (that) don't have as many vehicles on the road and aren't collecting as much data, it might take a little bit longer,' he added. 'They're already ahead of BYD currently (in terms of technology). Whether they can stay ahead of BYD in the long term, I'm not that sure.' This has also put smart driving features within reach of many countries. 'If you were talking to somebody in Mexico, Thailand or Vietnam, it wasn't on their radar,' he said. 'Now, because BYD already sells into these markets, these capabilities are going to become standard. It's something that could be used all over the world within the next four or five years. In terms of foreign markets, he also flagged concerns over whether countries or regions, such as Southeast Asia, are ready for assisted-driving technology. Other challenges include data privacy and whether users will accept the technology. "I have concerns and fears, such as what problems may arise in traffic jams, and scratches,' said 33-year-old Xi'an native, who only wanted to be identified as Mr Dong. Thirty-three-year-old Su Na, who works in the exhibitions and events industry, told CNA: "I am still sceptical about new energy vehicles because there are too many that will catch fire or lock when there is an accident.
Yahoo
25-05-2025
- Automotive
- Yahoo
China's BYD Overtakes Tesla in European EV Sales
On Thursday, Reuters reported that the Chinese automaker BYD surpassed Tesla Inc. (NASDAQ:) in EV sales in Europe for the first time, according to a report by JATO Dynamics. In April, BYD registered 7,231 BEVs in Europe, while Tesla registered 7,165 units. This marks a shift in the European car market, as Tesla had previously led the European BEV market for years, and BYD only officially expanded its operations beyond Norway and the Netherlands in late 2022. Despite the EU's imposition of tariffs on Chinese-made EVs, registrations of such cars increased by 59% in April from a year earlier and reached almost 15,300 units. In comparison, carmakers from Europe, Japan, South Korea, and the US saw a 26% growth in EV registrations during the same period. In April 2025, BEVs and PHEVs combined accounted for 26% of new car registrations in Europe, which was a new record. Chinese brands' PHEV volumes increased by a 546% year-on-year, from 1,493 units in April 2024 to 9,649 units in April 2025. This represents almost 10% of the total PHEVs registered in Europe. Tesla's declining sales in Europe are attributed to factors like an aging model lineup, production halts for retooling factories for the redesigned Model Y crossover, and CEO Elon Musk's political views. Tesla Inc. (NASDAQ:TSLA) reported its first drop in annual deliveries last year, and analysts anticipate another fall in 2025 after a 13% decline in Q1. Conversely, BYD's success is driven by its broad and competitive lineup of fully electric vehicles and plug-in hybrids, which led to a 359% increase in overall EV sales in April compared to the previous year. While we acknowledge the potential of TSLA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TSLA and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
