Chinese electric vehicle giant BYD targets to sell 10,000 electric vehicles in Mexico by 2023. Meanwhile, a senior executive at BYD has set a sales target of 30,000 vehicles by 2024.
BYD Company Head Zhou Zoutahun said that next year BYD will start selling electric vehicles from sport utility vehicles (SUVs) and Han sedans through eight dealers across Mexico.
Zou hopes that BYD can sell 10,000 vehicles in Mexico by 2023 and between 20,000 and 30,000 by 2024. Zou said the company’s long-term goal is to achieve about 10% of the current total market share. Meanwhile, the Mexican Association of the Automotive Industry said that only 4.5% of cars were sold during August 2022 or around 31,000 out of a total of nearly 693,000 sold.
BYD declined to price its vehicles in Mexico, Zou emphasized the company’s affordability, saying, that “we are a brand for all people”.
In September 2022, BYD has set a pre-sale price for the Tang and Han models at 72,000 euros (US$72,500) in Europe. According to the Mexican statistics agency, very few people in Mexico earn more than US$10,000 a year.
Zou said the company aims to sell cars through 15 licensed dealers in Mexico by the end of 2023 and reach 30 by 2024. Representatives from eight distributors, including the Liverpool department store chain and other dealers such as Group Continental, were at the event with BYD on Tuesday (29/11).
Meanwhile, Mexico is working to make EVs more affordable by cutting sales taxes and import tariffs. According to Zou, this is a positive step taken by Mexico. In recent months, officials in Mexico have said the country is on track to achieve its goal of converting 50% of auto production to electric by 2030. However, a General Motors executive said Mexico will likely only reach 15% by 2030.
