In December 2024, 10,091 BYD vehicles were registered in Brazil, ranking 8th in sales and bringing the total number of BYD vehicles registered in Brazil to 76,713 for the year. This impressive performance marked a significant increase of 327.68% compared to 2023, when the number stood at 17,937.
BYD’s Record-Breaking Sales Performance in Brazil: A Massive 327.68% Surge from 2023
Brazil has emerged as BYD’s largest overseas market. The range of BYD vehicles available in Brazil includes compact cars, SUVs, and pickup trucks.
The BYD Dolphin Latin America Special Edition is currently the best-selling electric vehicle in Brazil. The BYD Dolphin Plus and BYD Dolphin Diamond, launched in October 2023, are priced at 179,800 Brazilian Real (34,900 USD) and 149,800 Brazilian Real (29,000 USD), respectively. The BYD Dolphin also achieved a 5-star rating in the Latin NCAP crash and safety test, making it the safest car in Latin America.
BYD has been the fastest-growing Chinese automaker in terms of investment in Brazil over the past two years. According to the Brazilian government’s statistics, BYD’s plant in Camaçari, Bahia, has the potential to increase its production capacity to 300,000 vehicles per year. Additionally, BYD plans to open 250 stores in Brazil by the end of 2024.
Alongside BYD, Chery and Great Wall Motor are the other two prominent Chinese automakers in the Brazilian market. Chery, the first Chinese automaker to establish a store in Brazil, began exporting its Tiggo model to the country in 2009. Since then, Chery has invested $400 million in building new factories but currently focuses primarily on gasoline-powered vehicles. For context, from January to November 2024, China exported 228,235 vehicles to Brazil, including 149,923 new energy vehicles.
In 2023, Brazil’s automobile production and sales volume surpassed 2.3 million units, making it the largest automobile market in South America and the sixth-largest worldwide. To promote sustainable development in the automobile sector, the Brazilian government decided to waive import taxes on pure electric vehicles with a driving range of over 80 km in 2015.
Subsequently, in 2018, the Brazilian government launched the “Rota 2030” plan, proposing the goal of “electric vehicles accounting for 30% of Brazil’s total automobile sales by 2030” and offering tax incentives of up to 19 billion Brazilian Real by 2028.
The Electric Revolution: BYD: Outselling Ford and Honda by 2024?
In 2024, BYD witnessed a remarkable surge in its global sales, reaching an impressive figure of 4.27 million vehicles.
BYD Breaks Sales Record with Nearly 4.3 Million Vehicles Sold in 2024
With a staggering 4.3 million vehicles sold in 2024, BYD has cemented its position as one of the world’s largest automotive manufacturers.
“VinFast 2024: Dominating the Home Market, Accelerating Global Success”
According to CNN Indonesia, under the leadership of billionaire Pham Nhat Vuong, VinFast made history in 2024 by becoming the number one automotive brand in Vietnam and leaving a strong impression in numerous global markets.
The Big Shake-Up: Are Two Chinese Auto Brands in for a Revamp?
The Geely Group is reportedly planning a strategic restructuring move by merging two of its brands, Lynk & Co and Zeekr. This bold initiative aims to consolidate resources and focus on the development and production of new energy vehicles. By bringing together these two brands, Geely is poised to create a powerful entity that will drive innovation and accelerate its presence in the rapidly evolving new energy automotive industry.
Electric Cars to Outsell Gas, Diesel Vehicles in China by 2025, Japanese Brands Fear the Worst
If the forecasts from major banks and analysts are anything to go by, China is on track to achieve its electric vehicle market share target a full decade early.
