76,713 BYD vehicles were registered in Brazil in 2024, up 327.68% from 2023

In December 2024, 10,091 BYD vehicles were registered in Brazil, ranking 8th in sales, bringing BYD’s registration volume in Brazil to 76,713 vehicles for the entire year, an increase of 327.68% from 17,937 vehicles in 2023.

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Brazil has become BYD’s largest overseas market. BYD’s models sold in Brazil include compact vehicles, SUVs, and pickup trucks. Currently, the BYD Dolphin Latin America Special Edition is the best-selling electric car in Brazil, with the BYD Dolphin Plus and BYD Dolphin Diamond versions launched there in October 2023, priced at 179,800 Brazilian Real (34,900 USD) and 149,800 Brazilian Real (29,000 USD), respectively. The BYD Dolphin recently also earned five stars in the Latin NCAP crash and safety test, becoming the safest car in Latin America.

Furthermore, BYD has the fastest growth in investment in Brazil among Chinese automakers in the past two years. According to Brazilian government statistics, BYD’s factory in Camaçari, Bahia state, may bring the production capacity to 300,000 vehicles per year. Additionally, BYD planned to have 250 stores opened in Brazil by the end of 2024.

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Besides BYD, the other two major Chinese automakers in the Brazilian market are Chery and Great Wall Motor. Chery was the earliest Chinese automaker to set up shop in Brazil, with its Tiggo model exported there as early as 2009. Since then, Chery has invested 400 million USD in building new factories, but currently it still mainly sells gasoline-powered vehicles. For reference, from January to November 2024, China exported 228,235 vehicles to Brazil, including 149,923 new energy vehicles.

Brazilian automotive market

In 2023, Brazil’s automobile production and sales both exceeded 2.3 million units, making it the largest automobile market in South America and the sixth largest in the world. To promote sustainable development in the automotive sector, in 2015, the Brazilian government decided to exempt pure electric vehicles with a driving range of more than 80 km from import tariffs. Since then, in 2018, the Brazilian government began to implement the “Rota 2030” plan, proposing the goal of “electric vehicle sales to account for 30% of Brazil’s total car sales in 2030”, and will provide tax incentives of up to 19 billion Brazilian Real by 2028.

资料来源 Yiche