BYD Edges Ford in 2025 Deliveries, Rewriting the Global Auto Standing

BYD extended its lead over Ford in 2025 for the first time, posting roughly 4.6 million vehicle deliveries worldwide versus Ford?s about 4.4 million. The result nudges BYD up the global manufacturer ladder to sixth place, ahead of Ford. Toyota remains the industry?s top seller with 11.3 million units, followed by Volkswagen (around 9 million), Hyundai (about 7.2 million), General Motors (roughly 6.2 million), and Stellantis (about 5.5 million).

Key figures for 2025
- BYD deliveries: approximately 4.6 million
- Ford sales: about 4.4 million (roughly a 2% decline)
- BYD?s international share: around 25%, with over 1 million vehicles exported
- BYD?s 2026 overseas delivery target: 1.3 million
- Mexico plant (Aguascalientes): annual capacity up to 230,000 vehicles

Export-led expansion and capacity build-out

A notable driver of BYD?s overseas push is export activity. Bloomberg data released on Monday show that, in 2025, exports accounted for roughly a quarter of BYD?s global sales, with more than 1 million vehicles shipped abroad. For 2026, the company is aiming for 1.3 million overseas deliveries.

To support these international markets, BYD is establishing production sites in multiple regions?specifically in Brazil, Thailand and Hungary? intended to improve supply for South America, Southeast Asia and Europe.

Mexico plant as a strategic shortcut

Reuters reported that BYD and Geely were among the finalists in a bid for a Nissan-Mercedes-Benz plant in the Mexican city of Aguascalientes. VinFast was also cited as a top contender among nine participants.

The Aguascalientes facility, which opened in 2017, can produce up to 230,000 vehicles annually. It would close following Mercedes? decision to move GLB production to Hungary. Nissan has also discontinued the Infiniti QX50 and QX55 models produced there.

A potential acquisition would bring several practical advantages: no need for Mexican government approvals, an already skilled workforce, established logistics and, crucially, no lengthy permit processes for a greenfield build. BYD reportedly scrapped plans for a separate Mexico plant with a 150,000-vehicle capacity in July 2025, due to geopolitical uncertainties and trade frictions. China?s Ministry of Commerce had delayed approval amid concerns about technology leakage near the United States.

Tariffs and the regulatory backdrop

The tariff landscape remains hostile to Chinese-made EVs: the United States maintains a 100% import duty on cars built in China. Mexico, in turn, instituted a 50% tariff on Chinese vehicles last year.

Stock-market backdrop

investor sentiment has been volatile recently. In Hong Kong, BYD shares slipped after January sales came in softer than expected, marking the lowest level in about a year. Reuters notes that January 2025 sales were down 30.1% year over year?the fifth consecutive monthly decline?and BYD was overtaken by Geely Auto in January, marking the weakest January performance since 2020.