More Chinese companies are becoming global players. BYD and other Chinese electric car brands flocked to a German auto show in the last week to announce plans for the European market . Car exports remain a bright spot in China's overall trade slump, customs data show. Those overseas sales helped boost China's auto sector earnings by 46% in the second quarter from a year ago, UBS Securities' China Equity Strategist Lei Meng said in a note Wednesday.
on Sept. 4 raised its BYD price target by 10 Hong Kong dollars to 310 HKD — 25% upside from BYD's close for the week. Analyst Xiao Feng and a team expect that this year, BYD will enter the ranks of the world's ten largest original equipment manufacturers – before climbing into the top 5 in 2026. Toyota ranks first worldwide, with 10.43 million units sold in 2022, the
report said. The analysts expect BYD's sales will grow by 65% to 3.05 million units this year – including 250,000 to 300,000 vehicle exports. That's a move in the footsteps of Toyota. About 60 years ago, the Japanese automaker began to increase its overseas exports , and grew over the decades to surpass General Motors in 2008 as the world's largest automobile manufacturer, according to Britannica.