A BYD new energy vehicle is being displayed at a BYD 4S shop in Yichang, Hubei Province, China, on January 4, 2024. According to the sales data released by BYD, the company's model sales reached 3,024,417 in 2023, marking an increase of 61.9% and securing the title of the global new energy vehicle sales leader. Photo Credit: NurPhoto/Getty Images
Environment BrazilCars on Batteries: 670% Growth in Sales!
During the second half of 2023, battery electric vehicle (BEV) sales experienced almost 700% growth in Brazil, one never seen in the South American country.
In the first half of 2023, less than 800 BEVs were sold every month, reaching 0.4% of the market share. But 6,008 BEVs were sold in December 2023 alone, a 670% growth year on year – and a sixfold increase from July 2023.
This growth has one source: BYD’s upcoming factory in Camaçari, which will start production in 2025. Consequently, competition had to lower their prices, and BYD gained local recognition and dominated the growing market in the second half of 2023. Brazil remains the fourth largest plug-in market share behind Colombia, Uruguay, and Costa Rica, which all presented significant growth.
