South Korean reporters take photos of a new passenger car model launched by BYD Co. in Incheon, South Korea, on Jan. 16, when the Shenzhen-based carmarker officially announced to enter South Korea’s passenger car market.

BYD moved up one spot to the fifth in the global top-selling automaker rankings for 2024, selling 4.27 million vehicles globally last year, according to official data. Japan’s Toyota Motor maintained its position as the world’s top-selling automaker for the fifth consecutive year, with 10.8 million vehicles sold in 2024. It was followed by Germany’s Volkswagen Group and South Korea’s Hyundai. Stellantis of France ranked fourth. Geely was another Chinese automaker that made it onto the list, ranking 10th. China News Service