Ford Motor Co. lost global vehicle sales to BYD for the first time last year, as the Chinese company continued to climb the ranks of the world's largest automakers. Ford's wholesale sales fell nearly 2% last year to just under 4.4 million vehicles, down from the 4.6 million BYD reported in January. Figures released by the U.S. automaker on Tuesday confirmed that BYD has jumped to sixth place in the global sales rankings, one spot ahead of Ford.
While Ford's U.S. sales grew last year, its market share fell in Europe and especially in China, where local manufacturers such as BYD, Xiaomi Group and Geely Automobile have seized market share from foreign automakers with affordable, technologically advanced electric vehicles.
Ford has encountered difficulties in its electric vehicle transformation and announced a large-scale restructuring of its electric vehicle business, which has been difficult to make profits for many years, and has set aside US$19.5 billion in charges for this purpose.
BYD has also successfully entered the European, South American and Asian markets, with exports reaching 1.05 million vehicles in 2025. The company aims to increase exports to 1.3 million vehicles this year.
Overall, Toyota held the number one spot for six consecutive years, with global sales increasing 4.6% to 11.3 million vehicles.