By David Sachs Volkswagen and BMW sales rose in 2023 but analysts predict a tougher road ahead for the European car industry. BMW said Tuesday that it sold.
Elon Musk once scoffed at the notion that BYD could compete with his company. Now, the automaker run by billionaire Wang Chuanfu is poised to be the new No. 1 in electric vehicles.
Auto-industry executives long complained that electric cars aren’t as profitable as their combustion-engine counterparts. BMW AG Chief Executive Officer Oliver Zipse says those days are over.
BYD extended its lead over Volkswagen as China’s top-selling carmaker, with its wide range of electric vehicles proving hugely popular among local buyers.