EV Sales Trends, Tesla, and BYD in Chile

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Certainly one of our readers, “Mateo from Chile,” wrote in with the next observe the opposite day: “I saw Zach’s good article on Tesla’s Superchargers in Chile earlier this week. I live in Chile, and noticed that the latest Chilean EV sales report was published yesterday (for the Jan–Sep 2024 period). I thought a little article on the Chilean EV market, on the back of the Chilean Supercharger article earlier this week, could make sense. Below are some raw materials that could be used for such an article — hope you find them helpful.”

What Mateo despatched in is mainly an article itself, so I’m going to publish it in full by itself beneath. However, first, Mateo additionally despatched in a few different notes in regards to the Superchargers. “1) Chile Superchargers will be free for Tesla customers for an as-yet undetermined amount of time, and 2) the Superchargers are very well located: one of the Supercharger locations is near the highway from Santiago to the Viña del Mar/Valparaiso area, right before the highway forks north (Viña) and south (Valpo). It is one of the highest-traffic roads in Chile. The other is on the northern outskirts of Santiago, just off the very busy Panamerican Highway. Great positions, both for practical customer purposes but more importantly for advertising purposes.” Helpful notes. Typically, although, on the second level, I believe one factor many people have realized is that Tesla is sort of adept at putting Superchargers in supreme places. So, it’s no shock the corporate has accomplished so in Chile. The primary half is one thing I actually was not conscious of. Attention-grabbing information.

Now, on to “some takeaways” from the brand new Chilean EV gross sales report for January–September 2024 (hyperlink in sources¹).

By “Mateo from Chile”

1) EV development in Chile has exploded in 2024. Pure EV gross sales in Chile have grown by almost 200% thus far this yr, in a market that has declined by almost 7% excluding EVs. In consequence, EV market share in Chile, whereas nonetheless small, has tripled vis a vis final yr (from 0.4% to 1.2%), with the market share for the month of September rising to 1.6%. Slowly however absolutely, Chile is getting there, regardless of comparatively few subsidies.

2) The Tesla Impact: This development has coincided with the arrival of Tesla to Chile. Tesla has 25% market share of EVs bought in Chile this yr, regardless of solely launching in late January and making its first deliveries in April (and regardless of having solely 2 fashions on the market). BYD, which arrived in Chile final yr, is #2 at 19%, and Volvo is #3 with 12%. Nevertheless, when you take away Tesla from the equation, complete EV gross sales in Chile have nonetheless grown 120%. One clarification for the expansion could be that there are lastly good, decently priced choices obtainable, which weren’t obtainable earlier than (see subsequent level).

3) The highest promoting EV in Chile is the Mannequin 3 (15%)adopted by the Mannequin Y (10%), Volvo EX30 (8%), and BYD “Mini Dolphin” (aka Seagull) (7%). All of those fashions had been launched to the market in 2024. Nothing else modified — no new subsidies, nothing. The market lastly has respectable EV choices, and take a look at what occurred — EV gross sales have tripled!

4) BYD’s 19% market share comes primarily from their downmarket choices (85% of their EV gross sales this yr are from the Dolphin Mini (aka Seagull, #4 EV by gross sales in Chile), Yuan Plus (aka Atto 3, #5 EV place), and Dolphin (#8 place)). Their much-hyped “Tesla killers” just like the Seal haven’t had success, doubtlessly a results of the Seal’s excessive worth (the Seal prices almost $16,000 greater than the entry degree Mannequin 3 RWD and over $2,000 greater than the costliest Tesla bought in Chile, the Mannequin Y Efficiency AWD) in addition to the Seal’s low floor clearance (solely 4.7 inches).

A observe right here: BYD beat Tesla to the Chilean market by about 8 months and had a golden alternative to seize potential Tesla clients who had given up hope that Tesla would ever enter Chile. However BYD’s upmarket Han, Seal, and Tang (SUV) fashions, which theoretically ought to cater to a Tesla buyer base, are horrendously overpriced. Arduous to justify shelling out $70,000 for a BYD Han when that they promote the identical mannequin in China for $30,000.…

Sources:

¹ https://www.anac.cl/class/estudio-de-mercado/ hyperlink “Zero and Low emissions vehicle sales report September 2024” for EV information, hyperlink “Automotive Market Report September 2024” for the general automobile market knowledge

² https://www.anac.cl/class/estudio-de-mercado/ hyperlink “Zero and Low emissions vehicle sales report September 2024” for EV information

³ IDEM

⁴ IDEM, plus www.tesla.com/es_cl for pricing of Mannequin 3 and Mannequin Y in Chile, and https://guillermomorales.cl/autos-nuevos/byd/seal for BYD Seal pricing in Chile and floor clearance

BYD observe: Private expertise, BYD web sites. By the way in which, the Han is a very cool automobile. I took it for a take a look at drive and beloved it. It’s simply horribly overpriced (and its floor clearance is just too low for a rustic with so many pace bumps and over-the-curb sidewalk parking).