Why do China's new energy vehicles sell well in Brazil?

Just as some Western countries such as Europe and the United States frequently hyped the so-called "overcapacity" of China's new energy vehicles, China's new energy vehicles ushered in the sales season in Latin America.

According to data from Brazilian government departments and industry associations, in the first four months of 2024, the sales of Chinese new energy vehicles in Brazil reached 48,000, eight times that of the same period last year. How to see the bright performance of China's new energy vehicles in Brazil?

The rapid expansion of the new energy vehicle market and the performance of Chinese automobiles

First, we focus on Brazil's hot new energy vehicle market. In recent years, Brazil's new energy vehicle market has shown a momentum of rapid growth. In this round of rapid growth, the performance of China's new energy vehicles is particularly eye-catching. According to the statistics of the Brazilian Electric Vehicle Association, in the first four months of this year, among the top five new energy vehicle sales brands in the Brazilian market, Chinese brand cars, BYD, Great Wall Motor and Chery occupied three seats.

Alexandre Oliveira, sales director of China New Energy Vehicles Brazil Branch: China's electric vehicle market share in the overall passenger car market reached 1.1%.

Looking at the data in April alone, of the 15,206 new energy vehicles sold in the Brazilian market, 7045 were BYD's models, accounting for 46.3%; Great Wall Motor sold 2,281 units, or 15 percent.

Henri Antunes, Sales director of China NEV Brazil: In 2022, we sold less than 300 cars. In 2023 we sold almost 18,000, and this year we have [already] sold close to 30,000.

According to the Brazilian Electric Vehicle Association estimates that in 2024, the sales of new energy vehicles in Brazil will account for 10% of the total annual passenger car sales, reaching 150,000 units.

As the largest auto market in Latin America and the sixth largest in the world, Brazil has shown a rapid growth trend in the field of new energy vehicles in recent years. In 2023, the total sales of new energy vehicles in Brazil nearly doubled year-on-year, and the huge market potential has also attracted global auto manufacturers to pour in. One of the highlights of this is that the share of Chinese brand new energy vehicles has increased significantly. According to the data released by the Brazilian Foreign Trade Bureau in May, the progress of China's new energy vehicles in the Brazilian market is "irreversible".