INSUBCONTINENT EXCLUSIVE:
The Brazilian market for imported vehicles has experienced a remarkable transformation
Sales of imported cars soared by 204% in the first nine months of 2024 compared to the same period last year.Chinese manufacturers,
particularly in the electric vehicle sector, have largely fueled this impressive growth
BYD, a prominent Chinese automaker, has emerged as the dominant player in this surge.The company accounted for 71% of all imported vehicles
Association of Importing Companies and Vehicle Manufacturers (Abeifa) on October 15
The report highlighted the significant role of electrified vehicles in this growth.This category includes hybrid, plug-in hybrid, and fully
From January to September, Abeifa members imported 64,700 electrified vehicles.BYD Leads 204% Surge in Imported Car Sales in Brazil
Compared to the same period in 2023, this marks a substantial 245.1% increase in electrified vehicle imports.Marcelo Godoy, president of
Abeifa, expressed concern about a potential immediate increase in import taxes
Some large-scale domestic manufacturers are pushing for a 35% import tax on electric vehicles.Currently, there is a gradual tax increase
plan set to be implemented by July 2026
Abeifa represents several international brands in Brazil
These include Kia, Volvo, Porsche, BYD, Aston Martin, Jac, and Jaguar Land Rover.The association also includes luxury brands like McLaren
and Suzuki, as well as recreational vehicle manufacturers Polaris, BRP, and CFMoto.The total number of imported vehicles sold by these
brands reached 70,800 units in the first three quarters of 2024
This significant growth underscores the increasing popularity of Chinese-made vehicles in Brazil, especially in the electrified segment.
