BYD surpasses Tesla in Latin America in a race that is reshaping the landscape of sustainable mobility.
While the U.S. firm maintains its global prestige, the Chinese company has taken the lead in key markets such as Brazil, Mexico, and Colombia, establishing itself as the regional leader in electric vehicle sales.
Read also: BYD Revolutionizes the Market with 1,000 kW Chargers: China Deployment Imminent
Chinese Dominance in Major Markets
BYD’s expansion in the region has been both strategic and consistent. In Brazil, the brand ended 2024 with over 43,000 vehicles sold, compared to only 13 Tesla deliveries, according to data from Fenabrave.
Beyond sales leadership, BYD is also building a factory in Bahia to boost its industrial presence in the country.
In Mexico, BYD leads with more than 14,000 units sold, capturing 30% of the market — well ahead of Tesla’s 10%.
Competitive pricing and a diverse product offering have helped BYD position itself in a region where affordability and technological options are crucial.
Colombia, Peru, and Costa Rica Back Chinese Mobility
In Colombia, BYD grew from 714 vehicles sold in 2023 to over 3,900 in 2024, while Tesla barely registered 14 units.
In Peru, BYD expects to sell 1,000 battery electric vehicles this year. Costa Rica has already passed a 70% share of EVs coming from China, led by BYD.
The company’s strategy combines hybrid and fully electric models with long range, affordable pricing, and a regional approach that resonates with Latin American consumers.
Tesla Holds Ground in Chile
Chile is the exception. In 2024, Tesla led the market with 948 EVs sold, followed by BYD with 723.
However, across the rest of the continent, BYD surpasses Tesla in Latin America, closing the technology and sales gap more rapidly.
According to BloombergNEF projections, the market share of EVs in Latin America could reach between 10% and 20% of new car sales by 2028, highlighting major opportunities for brands like BYD that are already firmly established.
The Future of Electric Mobility Remains Contested
BYD surpasses Tesla in Latin America thanks to its competitive prices, regional production plans, and responsiveness to local needs.
While Tesla retains its global reputation, it continues to face barriers in scaling its business model across countries with limited EV infrastructure and lower purchasing power.
China’s fast-growing electric automotive industry suggests that the next few years will bring even more intense competition, with consumers benefiting from broader and more affordable options.
