Chinese automakers may be facing tariff barriers in Europe snd restrictions getting into the USA but in Southeast Asia, they are growing at a rate faster than the Japanese when they appeared in the 1960s.
In just a few years, major Chinese brands have entered various regional markets and quickly grown volumes. They are competing in the hottest traditional segments as well as the new EV segments. In some markets like Malaysia, they have even entered the top 10 brands during 2024.
In Singapore, BYD last year overtook Toyota to claim the No. 1 spot. The automaker, which began as a battery manufacturer in 1995 and ventured in making cars in 2003, sold 6,191 vehicles in the republic last year, beating Toyota by 455 units. A close margin but also a sign of how the market could be reshaped in coming years.
Sime Motors was appointed as BYD’s distributor in 2020 through Vantage Automotive Limited. The automotive group has also been he brand’s distributor in Malaysia since 2021.