Subscribe to our daily newsletter from CleanTechnica for the latest updates or follow us on Google News!
Electric Vehicle Trends in Latin America
The largest automotive markets in Latin America are witnessing a notable surge in electric vehicle (EV) adoption. Predictions indicate that Brazil’s market share of plug-in vehicles will exceed 5% by 2024, while Mexico is projected to surpass 2%. In addition, smaller nations like Costa Rica, Uruguay, and Colombia are experiencing rapid growth in EV sales. However, this overall trend does not reflect uniform progress across the entire region; there are still several slower-moving markets that warrant attention.
Admittedly, my previous lack of coverage regarding developments in countries like Brazil and Mexico stems from minimal changes within those markets recently. For those interested, my earlier analysis confirms a largely static situation among major players.
Latin America’s Automotive Landscape
The combined vehicle market across Latin America—encompassing cars, buses, trucks (excluding widespread motorcycles and fewer three-wheelers)—approximates an annual volume of about 5.5 million units sold. This figure includes all types of vehicles: fossil-fueled models as well as hybrid and electric variants.
A majority of the region’s automotive activity is concentrated within its two largest countries—Brazil and Mexico—which collectively account for approximately two-thirds of sales:
This concentration highlights a paradox where both nations have made substantial strides towards electrification compared to a backdrop where the region still trails behind China, Europe, and even the United States. While many leaders focus heavily on battery electric vehicles (BEVs), other countries such as Brazil and Mexico exhibit a significant presence of plug-in hybrids (PHEVs). This analysis will zoom in specifically on BEV performance across the landscape:
Support Independent Clean Technology Coverage
Your contributions can help bolster independent clean technology reporting crucial for advancing initiatives within this sphere!
Engage with CleanTechnica
If you have insights or news tips related to clean technology or would like to propose guest participants for our CleanTech Talk podcast series, we invite you to reach out.
