. If you haven’t read it yet, you can find the previous article here:In this article, we’ll finally see countries surpassing the symbolic 1% market share, as well as meet some of the fastest growing EV markets in the region. So, let’s begin!Sure, Chile is technically behind Ecuador and Panama in market share, but it has one of the most complete charging networks in the region and has recently surpassed Colombia as the country with the largest electric bus fleet anywhere outside of China.
Unsurprisingly, 6 out of the top 10 are Chinese models. Consider this an omen for the rest of the world: the Chinese are coming … and they bring affordable EVs with them! Sadly, sales per brand or model are not available so far. Though, most news outlets expect the small, locally produced JAC E10X to keep the reign in 2023 due to its affordable price: $26,000.The Dominican Republic is a relevant player in the EV landscape in Latin America. However, the country provides no access to public data and is not large enough to make it to the regional newsletters, so it is very hard to get any sort of information.
Therefore, BEV market share will depend on whether you consider these jeep-like vehicles as cars or not. If that’s the case, then 56,137 total vehicles were sold in Dominican Republic in the first 10 months of 2022, presenting a BEV market share of 1%. However, if we exclude them and only consider “regular” cars, 23,240 vehicles were sold in this period and BEVs rise to an impressive 2.5% market share.
It is perhaps important to mention that Brazil and Mexico present, by far, the most stable macroeconomic situations in the region, having almost controlled inflation and thus presenting low interest rates — hence the booming vehicle markets.
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