The Latest Example of BYD Becoming No. 1 Globally Isn't a Joke

Key Points The Chinese carmaker's sales in Europe jumped 131% in August. It was the top-selling Chinese brand in Europe through the first eight months. With a brutal price war raging in China's domestic auto market, BYD is expanding overseas. 10 stocks we like better than BYD Company › At first, Chinese automakers were the butt of a joke by well-known Tesla CEO Elon Musk. Then Chinese autos became a real concern, and their rapid development and expansion became a hushed secret. Now it's an industry consensus: Chinese automakers such as BYD (OTC: BYDDY) are a serious threat to automakers globally, forcing the U.S. to quickly slap on massive tariffs to prevent, for now, their entry into the U.S. market.