Japan EV sales in 2024: BYD surpasses Toyota

On January 9, the Japan Automobile Importers Association announced the domestic pure electric vehicle sales in 2024. BYD of China increased by 54% year-on-year to 2,223 units, surpassing Toyota (2,038 units) for the first time. This is the first time that BYD's sales in the Japanese market have surpassed local brands, marking an important breakthrough for Chinese brands in the Japanese market and achieving a curve overtaking in the new energy era.

Japan is a traditional powerhouse of automobile brands, and Japanese automobile brands have a strong influence in the global market. Japanese automobile consumption is mainly based on local brands. In the past, many brands that wanted to enter the Japanese market found it difficult to make a breakthrough. It is not easy for BYD to surpass Toyota in this fiercely competitive market.

Figure 1: BYD EV sales surpass Toyota

BYD entered the Japanese market in July 2022 and is the first Chinese new energy vehicle brand to enter the market. The first model is BYD ATTO 3, priced at 4.4 million yen (about 228,000 yuan), and then the Dolphin, Seal and other models were introduced. The sedan "Seal" drove the sales growth, with the standard version priced at 5.28 million yen (about 241,000 yuan). The "Dolphin" limited edition is set at 2.99 million yen (about 139,000 yuan) and has won the recognition of the market and consumers for its moderate price and high cost performance. BYD has opened stores in Tokyo, Osaka, Yokohama, Nagoya, Fukuoka and other cities, and it is expected that the number of stores will reach 100 by the end of 2025.

In the "Japan Car of the Year" selection, BYD Haibao won the "Top Ten Best Models" award for the 2024-2025 Japan Car of the Year with its outstanding performance. This is one of the oldest and most authoritative automobile awards in Japan. It is also the first time that a Chinese automobile brand has won this honor, which is of milestone significance.

Figure 2: Japan's Car of the Year - Seal won the "Top Ten Best Cars" award