Chinese automaker BYD has officially entered the Brazilian medium-sized pickup truck market with the launch of its highly anticipated Shark hybrid pickup truck. The new model, priced at 379,800 reais ($66,700), marks BYD’s sixth model in Brazil and positions the company to compete with industry giants such as Toyota and Ford in the country.
Brazil, an essential market for BYD, has gained even more importance amid growing trade barriers in the United States and European Union. To counter these challenges, BYD is executing its “chicken-rib” strategy, which emphasizes strengthening its foothold in emerging markets like Brazil and India.
The Shark has attracted a lot of attention since its October 3rd pre-order debut, with almost 1,000 of the 1,500 units available already booked. This early demand surpasses the pre-sales success of BYD’s previous model, the Yuan Pro electric SUV, which secured 600 bookings.
This rapid growth reflects BYD’s global ambitions. The firm has quickly gained popularity in the global automobile sector, temporarily surpassing Tesla as the world’s top seller of electric vehicles. With the introduction of the Shark, BYD is positioned to strengthen its position as a significant player in the global automotive industry.
