Ford Motor Company recorded global wholesale sales of just under 4.4 million vehicles in 2025, a decline of nearly two percent from the previous year, falling short of the 4.6 million units reported by China’s BYD.
According to Bloomberg, this marks the first time BYD has outsold Ford in annual global deliveries. The milestone lifts the Chinese electric vehicle manufacturer to sixth position in worldwide industry rankings, while Ford slips to seventh.
At the top of the global standings, Toyota Motor Corporation retained its leadership for a sixth consecutive year, posting a 4.6 percent increase in sales to 11.3 million vehicles. Volkswagen Group followed with approximately 8.98 million units, while Hyundai Motor Group, which includes Kia, recorded 7.28 million vehicles, confirming the established hierarchy among the world’s largest automakers.
Ford’s performance reflected a mixed regional picture. The company achieved growth in its domestic United States market, driven by strong demand for trucks and commercial vehicles, which boosted its market share at home. However, it lost significant ground in Europe and particularly in China, the world’s largest automotive market. In China, domestic brands such as Xiaomi and Geely have joined BYD in capturing share from foreign manufacturers through competitively priced, technology-focused electric vehicles.
The US automaker has also borne substantial costs linked to its transition toward electrification. Ford reported charges amounting to $19.5 billion as it restructured its electric vehicle strategy amid slower-than-anticipated global demand for EVs.
Meanwhile, BYD has accelerated its global expansion. The company’s exports reached 1.05 million vehicles in 2025, spanning Europe, South America and parts of Asia. It has set a target of 1.3 million export units in 2026, underscoring the growing importance of overseas markets in its overall growth strategy.
At home, however, BYD faces potential headwinds. Chinese authorities are scaling back subsidies for new-energy vehicles, while regulators have warned manufacturers against sustained aggressive discounting practices that have intensified price competition. The policy adjustments come after years of rapid domestic expansion and signal a more challenging environment even for market leaders.
The shifting rankings highlight broader industry dynamics, as Chinese manufacturers leverage scale and supply chain advantages in electrified vehicles to challenge established global players. Toyota’s continued dominance reflects a diversified portfolio strategy, combining hybrids with internal combustion engine models as the global industry navigates the transition toward lower-emission mobility.
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