Market Analysis from Sales Volume

In 2024, the new energy vehicle market in South America and Australia will grow significantly, and BYD's sales will be very impressive.

 

Brazil:

In the first half of 2024, Brazil's electric vehicle sales reached 31,000 units, which is 150% of the full year of 2023, and far exceeded the 8,500 units in 2022. So far, Brazil has become the fastest growing electric vehicle country in the world (24 years increased by 700% over the same period of 23 years, and the share of electric vehicles increased to 3%). 

In the first half of 2024, the best-selling electric vehicle models in Brazil are: 1. BYD Dolphin; 2. Ora Good Cat; 3. BYD Seal. 

The growth rate is rapid and the potential is huge.

 

Chile:

In the first half of 2024, Chile's electric vehicle sales reached 1,700 units, which is 125% of the full year of 2023. The best-selling electric vehicle brands in Chile are: 1. BYD; 2. Tesla; 3. Volvo. 

The current market share is only 1.2%, but Chile is accelerating. The government has implemented a series of incentives, including tax breaks, new car registration discounts and charging infrastructure construction. Chile is a major importer of pure electric vehicles in China, with brands such as BYD, Dongfeng, SAIC Maxus, JAC, Geely and Jiangling listed in Chile.

 

Uruguay:

In June 2024, the Uruguayan market exploded, with monthly pure electric vehicle sales reaching 776 units and semi-annual sales exceeding 2,000 units. The steady growth from the beginning of the year to the end of the year reflects the gradual acceptance of electric vehicles by Uruguayan users. In terms of brands and models, BYD Seagull occupies 25% of the market share, and domestic cars such as BYD and Geely account for 80% of the total sales.

 

Australia:

The electric vehicle market is unprecedentedly hot. As of July 2024, the total sales volume reached 55,045 units, which is expected to set a new record. Tesla model Y and model 3 sold 25,708 units from January to July 2024, ranking first and second in Australia's electric vehicle sales ranking from January to July. BYD's Seal, Atto3 and Dolphin models ranked third, fourth and sixth in the sales rankings, with a total sales of 10,296 units. The sales of these two brands of electric vehicles accounted for nearly two-thirds of Australia's total electric vehicle sales from January to July 2024, highlighting the strong market demand and brand influence.

 

At the macro policy level, in 2023, Australia built 397 new car charging stations and 755 charging piles, with the number of charging stations increasing by 90% year-on-year and the charging capacity increasing by 93%. This year, the Australian government has increased its investment in new energy transportation and added an additional A$178 million to accelerate the construction of charging piles across the country. This will further stimulate people's willingness to buy electric vehicles and increase the market share of electric vehicles in Australia. In the future, the Australian electric vehicle market will be a blue ocean

 

 

New Zealand:

As the third fastest growing country in the world for electric vehicles, New Zealand has seen sales of 6,800 electric vehicles in 2021 to 19,000 in 2022, a growth rate of 179%. 

In the period from January to July 2024, Tesla still leads the New Zealand electric vehicle market with a total sales of 726 vehicles. But the rise of the BYD brand cannot be ignored. Its three models - BYD Atto 3, BYD Seal and BYD Dolphin - have a total sales of 363 units, ranking second in New Zealand's electric vehicle market. The share of domestic electric vehicles in New Zealand's electric vehicle sales increased from 22% in the first quarter to 24% in the second quarter, while Tesla's sales share fell from 35% in the first quarter to 22% in the second quarter. This shows that domestic electric vehicles are showing a steady upward trend in New Zealand's electric vehicle market.Although traditional fuel vehicles still dominate, New Zealand Climate Minister Simon Watts is convinced that New Zealand's pure electric vehicle sales will pick up without government intervention, and more and more consumers will choose environmentally friendly and efficient electric vehicles for travel.