South Korean media: Chinese electric vehicles are sweeping the South American market!
On December 18, the South Korean media "Global Economy" published an article stating that Chinese automakers are rapidly expanding their market share in South America, launching both traditional fuel and electric vehicle models, especially in the electric vehicle market, where the growth momentum is strong.
Chinese brands are consolidating their electric vehicle sales in the region through active investments in Peru and Brazil.
New car sales in Peru from January to September 2025 reached a record 135,394 units, with 7,256 hybrid and electric vehicles, representing a 44% year-on-year increase.
This growth is mainly driven by the opening of the Chankillo Super Port located north of Lima. The port was built under China's Belt and Road Initiative and has halved trans-Pacific shipping time.
This logistics corridor will help Chinese brands such as BYD, Chery, and Geely accelerate regional deliveries.
In September, COSCO Shipping made its first shipment of 250 cars through the Chankillo Port in Peru to Chile. Chinese brands already hold a 33% share in Chile's automotive market.
New batches of goods will also be transported to Ecuador and Colombia, further solidifying Peru's position as a regional distribution center. BYD, a leading global electric vehicle manufacturer, plans to open its fourth dealership in Lima by the end of the year.
BYD already dominates the electric vehicle markets in Brazil, Colombia, Ecuador, and Uruguay. In October, despite economic and trade challenges, BYD entered the Argentine market for the first time.
In Uruguay, BYD has become the third largest car brand in terms of overall model sales, following Chevrolet and Hyundai. Since 2023, the market share of Chinese brands has doubled to 22%. The pricing of BYD's pure electric vehicle models is highly competitive, starting at $19,000.
According to data from the International Energy Agency (IEA), the adoption rate of electric vehicles in Latin America doubled in 2024, reaching nearly 4%. The electric vehicle market in Chile is growing strongly, with new car registrations accounting for 10.6% in September, 9.4% in Brazil in August, and as high as 28% in the third quarter in Uruguay.
Especially in Brazil, the market is becoming a strategic one for Chinese automakers. BYD started assembling electric vehicles in a former Ford factory in Bahia state in October, and Great Wall Motors has also begun partial production in a renovated Mercedes-Benz factory.
Through investments in the Chankillo Port and Brazil, Chinese automakers are reshaping the regional automotive landscape, expanding the electric vehicle market, and offering more affordable models for consumers, positioning themselves as pioneers in the transition to electric vehicles in South America.
Original: toutiao.com/article/1851846007718920/
Statement: This article represents the personal views of the author.