Latin America EV Market Share H1 2023, Part 3: Leaders of the Pack (Colombia, Uruguay & Costa Rica) - CleanTechnica

In here, we will meet the market leaders, most of which have shown significant growth and could be ripe for rapid disruption … plus a leader that, to be honest, absolutely surpassed my expectations. Let’s begin!Columbia’s EV market in 2023 is probably the most complex to understand in our entire list. In the face of it, the data would seem to point to a generalized stagnation of the market. Plug-in car sales have been dropping month after month, falling over 10% in H1.

On the other hand, even though EVs are getting cheaper , local currency revaluation has also fueled price reductions in ICEVs, many times in equal or larger proportion than EVs. Currency revaluation has happened so fast that many EVs with significant price reductions are nonetheless more expensive today that they were a few months ago.

As for the market composition, once again, we meet the reign of the Chinese: 8 out of the 11 most sold models come from a ChineseLike the entire region, Uruguay suffers from extremely high EV prices. Given the popularity of EVs, the government support, and the comprehensive charging network, it wouldn’t surprise me if once they lower their cost, we will see massive increases in sales … but lower prices are needed.

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