EV Gross sales Developments, Tesla, and BYD in Chile

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Certainly one of our readers, “Mateo from Chile,” wrote in with the next be aware the opposite day: “I noticed Zach’s good article on Tesla’s Superchargers in Chile earlier this week. I stay in Chile, and observed that the newest Chilean EV gross sales report was revealed yesterday (for the Jan–Sep 2024 interval). I assumed slightly article on the Chilean EV market, on the again of the Chilean Supercharger article earlier this week, might make sense. Under are some uncooked supplies that may very well be used for such an article — hope you discover them useful.”

What Mateo despatched in is principally 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 probably be free for Tesla clients for an as-yet undetermined period of time, and a couple of) the Superchargers are very effectively positioned: one of many Supercharger areas is close to the freeway from Santiago to the Viña del Mar/Valparaiso space, proper earlier than the freeway forks north (Viña) and south (Valpo). It is likely one of the highest-traffic roads in Chile. The opposite is on the northern outskirts of Santiago, simply off the very busy Panamerican Freeway. Nice positions, each for sensible buyer functions however extra importantly for promoting functions.” Helpful notes. Basically, although, on the second level, I feel one factor many people have realized is that Tesla is sort of adept at putting Superchargers in splendid areas. So, it’s no shock the corporate has finished so in Chile. The primary half is one thing I actually was not conscious of. Fascinating 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 progress in Chile has exploded in 2024. Pure EV gross sales in Chile have grown by almost 200% thus far this 12 months, 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 12 months (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 progress has coincided with the arrival of Tesla to Chile. Tesla has 25% market share of EVs offered in Chile this 12 months, 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 12 months, is #2 at 19%, and Volvo is #3 with 12%. Nonetheless, for those who 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 have 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 12 months 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, probably 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 most costly Tesla offered in Chile, the Mannequin Y Efficiency AWD) in addition to the Seal’s low floor clearance (solely 4.7 inches).

A be aware 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. Onerous 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 “Informe de ventas vehículos Cero y Bajas emisiones Septiembre 2024” for EV information, hyperlink “Informe del Mercado Automotor Septiembre 2024” for the general automotive market knowledge

² https://www.anac.cl/class/estudio-de-mercado/ hyperlink “Informe de ventas vehículos Cero y Bajas emisiones Septiembre 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 be aware: Private expertise, BYD web sites. By the best way, the Han is a extremely cool automotive. I took it for a take a look at drive and cherished it. It’s simply horribly overpriced (and its floor clearance is just too low for a rustic with so many velocity bumps and over-the-curb sidewalk parking).