In 2021, 118,145 hybrid and electric vehicles were registered in Latin America, an increase of 107.1% compared to 2020 when 57,078 units were registered. By country, where more electric and hybrid vehicles were registered was Mexico with 44,783 units, followed by Brazil with 34,990 units, and Colombia with 17,702 units.
According to data from the National Association of Sustainable Mobility (Andemos) based on the numbers provided by the associations of vehicle distributors in each country, of the total:
- 6,011 units were fully electric vehicles (BEVs)
- 7,887 plug-in hybrid electric vehicles (Phev)
- 104,293 hybrid electric vehicles (HEV)
Growth in Colombia
In Colombia, all electric vehicle segments showed growth in 2021, but the figure was affected by the non-delivery of 400 electric buses out of the 1,002 pending from the Bogotá tender. For this year, it is expected that with the pending deliveries to Transmilenio the country will consolidate its leadership in Latin America in all-electric vehicles for the fifth year.
Hybrid vehicles registered in Colombia totaled 16,406 units, registering a 250% growth in 2021 compared to 2020. However, while in Mexico and Brazil more than 40 hybrid vehicles are registered for each electric vehicle, in Colombia this ratio is four times lower.
Andemos also highlighted that, currently the national emissions standard for gasoline engines is below Euro 4, and as of 2023 it will go to Euro 4. However, thanks to the public policy of incentives, 42% of the hybrid vehicles registered in 2021 met the Euro 6 emission standard, the highest of the European norm, and in the first two months of 2022, the share increased to 56%.
According to the president of Andemos, Oliverio Enrique García Basurto: “The accelerated increase of hybrid vehicles in Latin America is a sign that this technology is the right strategy in the aspirations to achieve a zero-emission transportation sector since it is more likely that a consumer of a hybrid vehicle will upgrade to an electric vehicle in their next purchase”.
Mexico: Sales Leader
According to estimates from the Statista Mobility Market Outlook, Mexico is the largest market in this segment in the entire region, with a total of more than 4,500 new units sold in 2021, a volume slightly lower than the combined estimates for Colombia, Chile and Costa Rica last year.
By 2022, electric car sales in Mexico are expected to reach 6,000 units, an increase of more than 30% over the previous year. By 2026, this figure could reach a sales volume of 18,900 new electric vehicles, almost triple the figure projected for Colombia that same year.
Even so, the electric or hybrid car segment remains a minority in the region. For example, in the Mexican and Chilean markets, these vehicles represent less than 10% of total private car purchases, according to Statista estimates for 2022.
Some of the reasons for the low adoption of this new technology in the region are related to the high price of the models, and the incipient level of development of charging infrastructure.
In Mexico, around 3,000 electric charging stations will be available in 2022, according to Statista forecasts. In Argentina, on the other hand, this number is around 200 stations.
