“The neglect of traditional automakers has led to consistently high vehicle prices and inadvertently pushed consumers towards more affordable Chinese alternatives,” said Jato analyst Felipe Munoz.
 "Chinese automakers outsold U.S. automakers for the first time last year")
Japanese brands performed best overall, accounting for seven of the 10 best-selling models and selling a total of about 23.6 million units. European brands came in second last year. Bloomberg
Stephane Nicolas
Chinese automakers outsold their U.S. counterparts for the first time last year, signaling a shifting balance of power in the global auto market.
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Research firm Jato Dynamics said on Thursday that BYD and other brands sold 13.4 million new cars last year, ahead of the 11.9 million sold by U.S. brands such as Ford and Chevrolet. Japanese brands maintained their lead over the overall industry.
Chinese manufacturers' market share has soared in the Middle East, Eurasia and Africa, while companies such as SAIC Motor and Geely Automobile have expanded into more mature markets such as Europe and Australia.
“The neglect of traditional automakers has led to consistently higher vehicle prices, inadvertently pushing consumers towards more affordable Chinese-made vehicles,” said Jato analyst Felipe Munoz.
Chinese automakers are increasingly turning to exports after seizing the lead in a domestic market where a price war for electric vehicles is squeezing profits. Tesla Inc. Chief Executive Elon Musk warned in January that Chinese companies would “all but destroy” most other manufacturers if trade barriers weren't erected.
Munoz said the European Union's announcement this week to impose additional tariffs on electric vehicle imports from China may encourage BYD and its peers to expand further in already strong emerging markets where trade barriers are lower.
EVs made by Chinese brands accounted for just under 9% of all fully electric vehicles sold in Europe last year, according to Dataforce.
The United States scored a big win last year when Tesla Inc.'s Model Y became the world's best-selling car. Shipments of the sports utility vehicle rose 64% to 1.22 million units, surpassing Toyota Motor Corp.'s RAV4 SUV.
Japanese brands performed best overall, taking seven of the 10 best-selling models and selling a total of around 23.6 million units. European brands came in second last year.
