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Will BYD Surpass Toyota in the Brazilian Automotive Industry? Understand Entrepreneur Sérgio Habib’s Position, Owner of JAC Motors on this clash of industry giants.
Will BYD Surpass Toyota in the Brazilian Automotive Industry? The first half of 2024 revealed that Toyota may not maintain its leadership in the hybrid car segment in Brazil. Previously, the brand was the undisputed leader, but now it faces strong competition from two Chinese automakers, BYD and GWM, who are on the verge of taking its place. However, in a recent interview, Sérgio Habib, owner of JAC Motors, shared a different view of the competitive landscape. According to him, the situation is more complicated than it appears.
Sérgio Habib Claims BYD’s Strategy May Not Work
According to the entrepreneur, when asked if BYD will surpass Toyota, he replied that there are vehicles from the Chinese company parked in various vacant lots at the ports, stating that the brand has indeed imported the vehicles but has not sold them. Sérgio Habib also emphasizes that BYD’s strategy to increase its sales in the automotive industry by expanding the number of dealerships, will not help at all, and sales may even decline.
“Take Cuiabá, for example, which has a BYD dealership that sells 50 cars, which is quite impressive, as it already represents 5% of the market. If a new dealership opens, sales won’t increase and may even drop below 50” , in the entrepreneur’s words, he highlights that it is nearly impossible.
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Sérgio Habib further states that, in ten years in the market, even with the country experiencing various economic crises, model introductions and withdrawals, declining sales, and many other adversities, the Toyota Corolla sells around 60,000 units per year, peaking at 66,000 and dipping to a minimum of 58,000. Thus, it is a vehicle with excellent resale value, low maintenance, and almost impossible for BYD to surpass.
What Do Automotive Industry Numbers Indicate?
Despite Sérgio Habib’s statements, when asked if BYD will surpass Toyota, in the early months of this year, Toyota sold 10,514 hybrids in the country. The brand has two products in this category, Corolla and Corolla Cross.
Second place went to BYD, which registered 10,113 units sold, compared to 9,043 for GWM. The numbers indicate that BYD may surpass Toyota, being the first automaker to achieve this feat.
However, in June, the brand that sold the most hybrids in the country was GWM, with 2,153 units, compared to 1,989 from the other Chinese company, the runner-up. Toyota took third place (1,644).
It is most likely that BYD will become the new leader in the hybrid segment. And this could happen as early as the end of this month. The main reason for the bet is not the advantage that the brand currently has over GWM, but rather its newest product.
Toyota is on Another Level in the Automotive Industry and it is Almost Impossible for the Automaker to be Surpassed
In the general market, without restrictions from the hybrid segment, Toyota is on another level of sales when compared to BYD and GWM. The Japanese automaker, which also offers only combustion versions of the Corolla and Corolla Cross, in addition to achieving high volumes for the Hilux, registered 91,714 units sold in the first half.
This number places Toyota in fourth place in the overall light commercial vehicle sales ranking, behind Fiat (leader), Volkswagen (runner-up), and Chevrolet (third place). BYD is in tenth place on this list, with 32,558 units sold.
GWM is 15th (12,731). A phenomenon that caught attention in the first half of this year was the growth of the electric car segment, a rise of 757.77% compared to the same period in 2023.
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