BYD (01211) has overtaken Toyota (TM.US) to become the king of cars in Singapore, causing a significant change in the Southeast Asian car market landscape.

BYD Company has beaten Toyota Motor for the first time, winning the title of the most popular car brand in Singapore.

Zhitong Finance16:28

Market overview: The three major Indices opened high but fell lower, with the Tech Index closing down over 1%. The performance of the domestic Silver and Insurance Sectors was impressive, as China Everbright Bank rose over 4% against the market trend, and

Network Technology stocks fell, with XIAOMI-W down 2.27% and Bilibili-W down 1.47%; many Apple Supplier stocks declined, with FIH down 4.82% and BYD Electronics down 3.23%; Lithium Battery stocks generally fell, with Zhongxin Innovation down 3.78% and CHAOWEI POWER down 3.42%.

Futu News16:25

According to the China Automobile Association, more than 4.22 million electric vehicle charging facilities were added last year.

The China Automobile Industry Association's battery charging and swapping branch has released data showing that by the end of December 2024, the total number of electric vehicle charging facilities in mainland China reached 12.818 million sets, a year-on-year increase of 49.1%; of which, public charging facilities accounted for 3.579 million sets, while private charging facilities totaled 9.239 million sets. Throughout 2024, the increase in electric vehicle charging facilities in mainland China was 4.222 million sets, with an average monthly growth of 0.352 million sets.

AASTOCKS15:48

BYD (01211.HK) was the best-selling automobile brand in Singapore last year.

According to reports, BYD (01211.HK) has for the first time outperformed Toyota Motor to become the most popular car brand in Singapore last year. The report indicates that BYD's sales in Singapore more than quadrupled last year, reaching 6,191 units, surpassing Toyota's 5,736 units. BYD's market share in Singapore is 14%, and its sales also exceed those of Tesla Incorporated, Mercedes-Benz Group AG, and BMW (Bavarian Motor Works).

AASTOCKS15:06

BYD Outsells Toyota to Becomes Singapore's Most Popular Car

The Edge Markets14:27

Cui Dongshu from the Passenger Car Association: It is expected that there will be significant pressure on electric vehicle exports this year, recording zero growth.

Cui Dongshu, Secretary General of the China Passenger Vehicle Market Information Joint Conference, stated that the overall automobile export growth is expected to reach 10% by 2025, reaching 7 million vehicles. Cui pointed out that with the slowdown of electrification in Europe and the USA, along with the USA's announcement of withdrawing from the New energy Fund subsidy policy, there will be significant pressure on electric vehicle exports in 2025, with a projected zero growth. In 2024, the growth rate of pure electric exports is only 15%. Specifically, the expectation for 2025 is zero growth in pure electric exports, a 9% increase in RBOB Gasoline vehicle exports, and a 70% increase in plug-in hybrid exports. The Statistics from the Passenger Vehicle Association estimate that passenger vehicle exports will reach 5.3 million units, growing by 10%.

AASTOCKS14:13