Leading Chinese automaker BYD recently revealed that it had opened its first co-built store in Brasilia with renowned Brazilian auto dealer Saga, as per CnEVPost. BYD has opened ten dealerships in Brazil and has been granted franchise rights in 31 of the country’s largest cities.
“Saga Group has reached a significant milestone as we opened the first electrified vehicle store in Brasília. Working with BYD, the world’s leading manufacturer of new energy vehicles, means being completely updated with the world’s sustainable portfolio”, said Sérgio Maia, CEO of Saga.
BYD’s market presence in Brazil
In December 2021, BYD formally entered the Brazilian electric passenger vehicle industry, as per Pandaily. The Chinese automaker also disclosed collaborations with prominent Brazilian auto dealers like Eurobike, Saga, Servopa, IESA, Guia Branca, GNC, Parvi, and Dahruj. Meanwhile, the most recent advancement in BYD’s operations in Brazil is the establishment of the dealership store with Saga.
“The cooperation with the biggest dealership group in Brazil is very important to consolidate BYD’s brand in the Brazilian market and to catalyze the electrification of local transportation,” said Tyler Li, General Manager of BYD Brazil.
Remarkably, BYD has already launched several of its models in Brazil. It includes the luxury pure-electric SUV Tang EV, Han EV, and D1. Meanwhile, pre-sales of the hybrid Song Plus DM-i have just begun.
By the end of 2022, BYD’s foothold in Brazil is anticipated to spread to 45 cities. By the end of 2023, 100 stores are anticipated to be operational.
In October this year, BYD and Santander, the dominant player in Brazil’s auto finance market, agreed to collaborate. According to a BYD press release, the service offers Brazilian customers digital car finance options, including credit assessment, credit review, and payment alternatives, when they purchase BYD automobiles.
Brazil’s automotive production growth
Anfavea reported that Brazilian auto production climbed to 207,800 units in September, up 19.3% YoY. Moreover, 1.75 million automobiles were produced overall in the first nine months of this year, an increase of 6.3% from the same period last year.
It is hardly surprising that BYD is striving to forge a significant footprint in Brazil, given the country’s rapid expansion in the automotive sector.