Written by Cláudio Afonso | LinkedIn | X
Chinese automaker BYD continued its dominance in the Brazilian electric vehicle (EV) market in May, securing an impressive 71.4 percent market share, according to data released by Fenabrave, the Brazilian vehicle distribution federation.
Out of 5,175 electric cars sold in Brazil last month, 3,695 were from the Shenzhen-headquartered automaker. The second place was held by Volvo, which sold 571 units, translating to an 11.03 percent market share, nearly one-seventh of BYD’s sales.
BYD’s supremacy is not a recent phenomenon. In April, the company achieved a nearly 80% share of the electric vehicle market, with 5,346 units sold, accounting for 79.73% of the market. Year-to-date, the company has registered 19,097 electric vehicles, capturing 73.45% of the market.
The brand’s dominance is largely attributed to the popularity of its hatchback models, particularly the BYD Dolphin and the BYD Dolphin Mini.
Launched in late February, the Dolphin Mini has quickly become the best-selling electric car in Brazil. In May, 2,104 units of the Dolphin Mini were registered, making up 56.94% of BYD’s total electric vehicle sales for the month.
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Adding to the strong sales figures, BYD’s competitive pricing strategy has played a crucial role. The Dolphin Mini is priced at R$ 115,800, while the Dolphin costs R$ 149,800, making them accessible options in the electric vehicle market.
While other brands have yet to offer significant competition, GWM sold 534 electric vehicles in May, representing a 10.32 percent market share, and JAC sold 114 units, accounting for 2.20 percent.
BYD’s strong market presence underscores its strategic focus on the Brazilian electric vehicle market, bolstered by its hatchback models’ affordability and appeal. This trend suggests BYD’s continued dominance in the rapidly growing EV sector in Brazil.
Explorer No.1, BYD’s first carrier designed to transport up to 7,000 Vehicles, docked last week in Brazil after a 27-day transcontinental journey from China.
The docking of Explorer No.1 marks a significant achievement for Brazil’s Suape Port, as — for the first time — it received 5,459 new energy (electric plus hybrid) vehicles in a single shipment. Last week, China largest automaker reached 100 stores in the South American country and it is targeting to reach 250 by the year end.
In March, the company began construction on a manufacturing complex in Camaçari, Bahia. The China auto giant expects it to be operational by late 2024 or early 2025, will initially produce models such as the Dolphin hatchback and Dolphin Mini. The first phase of the complex aims for an annual production capacity of 150,000 units.
Written by Cláudio Afonso | LinkedIn | X
