By Brazil Stock Guide – Brazil recorded its first-ever electric vehicle leading retail auto sales, as BYD Co. Ltd.’s (1211.HK) Dolphin Mini ranked first in showroom registrations in February, excluding fleet and direct corporate sales.
The Chinese automaker reported 4,100 units of the compact EV were registered during the month. Official consolidated figures are still pending release from Brazil’s national dealers association, Fenabrave.
The Dolphin Mini outperformed traditional combustion-engine leaders in retail channels, including Volkswagen AG’s (VOW3.DE) Tera SUV, Hyundai Motor Co.’s (005380.KS) Creta, and Fiat’s Strada pickup, produced by Stellantis NV (STLA).
When fleet and direct sales — typically negotiated at discounted rates with rental companies and corporate buyers — are included, the rankings shift. Fiat’s Strada, Volkswagen’s Polo, Fiat’s Mobi and Argo, and General Motors Co.’s (GM) Chevrolet Onix occupied the top five positions in February. In that broader count, the Dolphin Mini placed 11th, according to consultancy K.Lume.
Across all sales channels and models, BYD ranked fifth among automakers operating in Brazil last month, trailing Fiat, Volkswagen, Chevrolet and Hyundai.
The milestone coincides with the Dolphin Mini’s two-year anniversary in Brazil. Since its official launch in February 2024, more than 62,000 units have been sold in the country. The model carries a starting price of 119,990 reais ($).
K.Lume projects Chinese brands could approach a 20% share of Brazil’s passenger car market this year. Their market participation reached 16.3% in February, up sharply from 9.8% in the same month a year earlier.
Import taxes on hybrid and electric vehicles are set to rise to 35% in July, from current rates ranging between 25% and 30%, depending on technology — a change that may influence short-term purchasing dynamics.
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