Home Business-newBusiness Mexico Leads the Electric Car Sales market in Latin America

Mexico Leads the Electric Car Sales market in Latin America

by Yucatan Times
1 comment

The sale of battery-powered vehicles (BEV) and plug-in hybrid vehicles (PHEV) in Latin America is constantly growing.

(MEXICO – STATISTA).- According to data from Statista Mobility Market Outlook, Mexico is the largest market in the entire region with more than 4,500 new units sold in 2021 alone. For this year, sales in our country are expected to be close to 6,000 units. While by 2026 sales volumes would be close to 19,000.

The segment of electric or hybrid cars continues to be a minority in the region. For example, in the Mexican and Chilean markets, these vehicles represent less than 10% of total private car purchases, Statista estimates for 2022.

Infographic: Mexico, leader in sales of electric cars in Latin America |  Statistical

The high price of the models is one of the reasons for the low adoption of this new technology in the region, since most are imported from high-income economies and the incipient level of development of the charging infrastructure.

Around 3,000 electric charging stations would be available in 2022 in Mexico. In contrast, in Argentina, this number is around 200 stations. Paradoxically, the region contributes a large part of the metals needed for the production of these cars in the world, such as lithium and copper.

TYT Newsroom

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1 comment

Vitalik Buterin Sr January 25, 2023 - 3:53 pm

Mexico is leading the electric car sales market in Latin America, with more and more consumers turning to electric vehicles as a sustainable and cost-effective transportation option. According to recent reports, electric car sales in Mexico have seen a significant increase in recent years, outpacing sales in other countries in the region.

One of the reasons for this increase in sales is the Mexican government’s commitment to promoting sustainable transportation. The government has implemented various incentives and subsidies to encourage the adoption of electric cars, including tax breaks and grants for the purchase of electric vehicles. Additionally, the government has also invested in the development of charging infrastructure to support the growth of electric cars on the roads.

Another reason for the growth of electric car sales in Mexico is the increasing availability of affordable electric car models. Many car manufacturers have recognized the potential of the Mexican market and are now offering electric cars at competitive prices.

This trend is also reflected in the online platforms like https://sca.auction/locations/branch-ca-los-angeles-134, which specializes in car auctions, it’s also seen a growing number of electric car models being auctioned off by government agencies and financial institutions.

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