Latin America EV Market Share H1 2023, Half 1: Story of the Laggards — Argentina, Peru, Ecuador, & Panama

Time flies. The primary half of 2023 has already been over for some time, and the EV transition is accelerating, so we’re bringing information from a area typically forgotten when talking about electrical automobiles: Latin America.

We are going to divide this collection of articles into three elements: the laggards, the center of the pack, and the leaders. For every, we’ll current three international locations with some element, plus one honorable (or dis-honorable) point out, relying on the circumstances. The data shall be offered on the element allowed by the supply (usually, a authorities establishment or EV-promoter affiliation), so some international locations can have extra detailed data than others: in some circumstances, we can current mild and heavy-duty automobiles and embody PHEVs; in others, we should current solely mild automobiles (or all automobiles) and solely BEVs. We are going to concentrate on 4-wheelers, so three-wheelers and bikes/scooters is not going to be a part of this evaluation.

That being stated, let’s begin!

Dishonorable point out: Argentina (0.06% BEV market share)

We begin this text with the dishonorable point out. Argentina is a comparatively large, comparatively rich nation, and but the presence of EVs there may be so marginal that it’s not even current in official statistics (which principally seek advice from “electrified automobiles,” together with HEVs and even MHEVs).

407,532 automobiles had been bought in Argentina in 2022. Of those, 261 had been BEVs, presenting a powerful market share of … 0.06%.

That’s proper, of us, Argentina is the one nation in our total checklist but to surpass not 1%, however 0.1% BEV. Electrical automobiles within the nation are principally a margin error, a statistical anomaly, and though PHEVs could possibly carry plug-in market share to 0.1%, we will’t know, as a result of they aren’t categorized individually from HEVs.

Within the first half of 2023, issues have considerably improved, with 170 BEVs being bought in a market totaling 235,100 items. That brings market share as much as … 0.07%! I wouldn’t be holding my breath right here. Argentina appears prone to stay a laggard within the foreseeable future, although imports from Brazil should still change the route of the market. Not many particulars about BEV gross sales will be discovered on-line, however evidently the domestically produced Tito Corradir stays probably the most bought BEV within the nation.

#9. Perú (0.2% plug-in market share)

Not like Argentina, Peru no less than has already surpassed 0.1% market share, presenting 110 BEVs and 96 PHEVs in H1 2023 in a market totaling 94,983 items. All in all, BEVs and PHEVs correspond to 0.1% of the market every. That greater than doubles Argentina’s market share!

Jokes apart, it’s clear that Peru has a marginal EV market share, and although issues appeared to be rushing up in 2022 (when gross sales tripled, as in comparison with 2021), 2023 has up to now proven disappointing outcomes, with solely a 50% enhance. Usually, that might be excellent news, however after we’re ranging from a place so low, way more is required to maintain the optimism.

There’s a normal pattern that, each time a rustic has marginal EV market share (akin to Peru and Argentina), all information retailers current “electrified” gross sales as an alternative of BEVs or PHEVs, so it’s onerous to search out plug-in gross sales leaders. In Peru’s case, we had been capable of finding out that the Toyota RAV4, the Volvo CX40 and CX90 (all PHEVs) comprise the rostrum for H1 2023.

#8. Ecuador (0.7% plug-in market share)

Subsequent in our checklist is Ecuador, and though numbers stay low, we’re nearly reaching the symbolic 1% milestone right here.
In H1 2023, 69.947 automobiles had been bought in whole within the small equatorial nation (pun meant), with 303 of those being BEVs and 180 PHEVs. Moreover, plug-in gross sales greater than doubled from H1 2022, with BEVs rising 87% and PHEVs rising 246%. Now, these are the charges that make one maintain the optimism on!

The rising pattern for EVs in Ecuador has sparked the curiosity of Terpel Voltex, Colombia’s largest fast-charging community, which entered the nation with a 94kW fast-charging station in Guayaquil final month. Nonetheless, the corporate appears to have foregone the teachings discovered within the Colombian market, and nonetheless opted for the CHAdeMO plug over the way more wanted GB/T.

Ecuador nonetheless belongs to the aforementioned group the place “electrified” automobiles are all listed collectively, however we nonetheless came upon that the Audi E-Tron (43 items) and the Mercedes GLE line (33 items) had been the plug-in leaders.

#7. Panama (0.8% plug-in market share)

And we end our first half with a tragic be aware, for even the chief of the laggards stays beneath the symbolic 1% milestone. Issues will get higher in our subsequent chapter, so there’s that.

Not like Peru and Ecuador, Panama doesn’t appear to have any official establishment publishing numbers for month-to-month gross sales. H1 whole gross sales couldn’t be discovered, however primarily based on earlier years’ developments, and the numbers for Q1, we calculated them to be round 23.000 automobiles (give or take just a few), 157 of which had been BEV and 24 PHEV. Gross sales in H1 2023 almost attain the entire numbers for 2022, that means a fast-growing market right here as effectively:

Panama can be focused on selling Electrical Buses and taxis and has obtained -alongside Paraguay and Uruguay- 122 million USD to maintain advancing in its electrical technique.

Regardless of Panama being probably the most EV-friendly nation within the first a part of our checklist, I have to admit my disappointment. By far, that is the wealthiest nation in all the rating (and in Latin America), but it stays up to now behind many others, though it has the sources and the geography to have the ability to quickly electrify, in that case it wished. However hey, no less than it’s not Argentina!

Fairly quickly, we’ll publish the second a part of the collection, so keep tuned!

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