BYD Dethrones Volkswagen as China's Best-Selling Car Brand

BYD, backed by Warren Buffett, surpassed Volkswagen in Q1 sales, selling 13,000 more units. This highlights the growing influence of Chinese EV makers as they offer affordable models. Despite price cuts from competitors, BYD's sales in Hong Kong have exceeded expectations, with a target of 8,000 units. Globally, BYD sold 550,000 cars from January to March, more than all UK passenger vehicle registrations. The company aims to sell up to 3.7 million vehicles in 2023, focusing on expanding in Europe, Latin America, and Asia.

Which company did BYD surpass in sales during the first quarter?

• Nissan

• Ford

• Volkswagen

• Toyota

What factor is contributing to the declining influence of legacy foreign brands?

• Rise of affordable Chinese EV models

• Lack of innovation

• Decreased consumer interest in EVs

• Increased production costs

What percentage did some competitors cut their prices by earlier this year?

• 14%

• 10%

• 5%

• 20%

How many cars did BYD sell globally from January to March?

• 600,000

• 550,000

• 450,000

• 500,000

What is BYD's potential sales target for the year according to Bloomberg Intelligence?

• 3.7 million vehicles

• 2 million vehicles

• 3 million vehicles

• 3.5 million vehicles