Chinese EVs beat Tesla in South America as sales soar thanks to prices nearly 40% lower

Tesla has lost its EV crown on yet another continent, as sales of Chinese EVs have beaten the American brand in South America.

It’s been a commonly reported story in recent months, as Chinese EVs make gains in territories that were formerly Tesla-dominated due to their prices being around 40 percent lower.

Peru has a Chinese-built megaport, which has been seen as a gateway into the region.

So what does this mean for Tesla – and how are Chinese manufacturers making the most of the opportunity?

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Why are Chinese EVs on the rise in South America – and does this spell disaster for Tesla?

Both traditional and electric vehicles from Chinese manufacturers are making gains in South America.

EVs are still a relatively small portion of the 135,394 cars sold in Peru in the nine months up until September, but it’s a growing number, Reuters reported.

7,256 hybrid and electric vehicles were sold in that period – a 44 percent increase on the previous year.

Ever since the Port of Chancay opened north of Limo last year, shipping times from China have halved.

With barriers being mounted in the US and Europe, South America is looking like a more viable market.

BYD has three dealerships in the Peruvian capital, with a fourth planned.

Chery and Geely have more than a dozen of their own throughout the country.

And it’s not just in Peru that these cars are becoming increasingly popular.

Just BYD alone leads EV sales in Brazil, Colombia, Ecuador, and Uruguay, as well as having recently launched in Argentina.

In Uruguay, BYD is the third biggest seller across all car types, and China has a 22 percent share in the country’s car market.

It’s a similar story in other parts of the world

If there’s been one runaway success story this year, it’d be BYD.

More than any other Chinese manufacturer, this company has made an impact in foreign markets.

In the UK, it is now the top-selling EV maker, outselling Tesla sevenfold.

And it’s a similar story in the rest of Europe, where it beat Tesla sales by just 100 vehicles.

Things aren’t that way in the US, where Chinese cars are largely blocked from the market.

But with one survey finding that half of Americans would be open to buying a Chinese EV, things could change further down the line.

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