Colombia’s EV Market Grew 23% in Q1 & Reached 4% Market Share in March

The first trimester is over, and countries are starting to present their official data for vehicle sales during the first three months of the year. Colombia, one of our leaders for EV sales in the region last year, started this one with reasonable growth amidst a generalized crisis in the vehicle sector that has been going on for two years now, with no end in sight. It’s all but certain that by now we have hit peak ICE in this country.

And yet, despite both ICEVs and EVs having significant price reductions, it’s only EVs that grew: 23% to be precise, while the general market fell 14%. This allowed EVs to go from 2.4% market share in Q1 2023 to 3.4% in Q1 2024, reaching 4% during March.

The government is still aiming to end diesel subsidies, but it hasn’t been able to do so due to pressure from the transportation guild, which is threatening to strike if prices go up. Regardless, several companies are bringing new and better electric trucks, so if the government gets its way, we will see a rapid increase in the sale of electric heavy vehicles.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Plugin EVs' Market Share in Sweden Decreases in MarchIn March, plugin electric vehicles (EVs) accounted for 58.1% of the auto market in Sweden, showing a decrease compared to the previous year. While plugin hybrid volumes slightly increased, battery-electric vehicle (BEV) volumes decreased significantly. The overall auto volume was also affected by the decrease in registration days. The decline in BEV registrations can be attributed to the reduction of purchase incentives.
Source: cleantechnica - 🏆 565. / 51 Read more »

Canon Aims to Achieve Overwhelming Market Share in Mirrorless Camera MarketCanon's 2024 corporate strategy includes the goal of becoming the number one player in the mirrorless camera market. The company plans to establish an absolute position in the market by expanding its EOS R system and targeting video-oriented customers. Canon already leads in interchangeable lens mirrorless sales in the United States, but aims for a more dominant position.
Source: petapixel - 🏆 527. / 51 Read more »