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Latin American Hybrid and Electric Vehicles Growth Opportunities
Competitive Intensity Driven by the Entry of New Participants Stimulates Electrified Vehicle Sales
06-Jul-2023
North America
Market Research
K920-01-00-00-00
AU02557-GL-MT_27791
The electrified vehicle (xEV) industry in Latin America is at an emerging stage, in terms of vehicle sales, charging infrastructure, and regulations. However, it has been growing at a fast pace, primarily because of the entry of new models and the launch of purchase incentives. For example, in 2022, almost 157,000 electrified units were sold in the region, 32.6% more than the previous year. Currently, Colombia and Uruguay are the countries with the highest penetration rate of xEVs in total light vehicle sales in the region, reaching shares of 11.9% and 6.9%, respectively.
'Latin American Hybrid and Electric Vehicles Growth Opportunities' examines the qualitative and quantitative aspects of the xEV market by evaluating its performance and identifying the various trends that impact demand for this technology. This study focuses on passenger cars and light commercial vehicles from eight countries: Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, and Uruguay). These countries were selected according to their relevance in the region and the size of their EV parcs. The base year for analysis is 2022, and the forecast period is from 2023 to 2035. The forecasts included in this report are related to total electrified vehicle sales, sales by technology (BEV, PHEV and HEV), total electrified vehicle parc, and vehicle parc by technology.
This growth analytics will provide a comprehensive outlook on the electrified vehicle market in Latin America and meaningful insights for automotive participants wishing to explore this growing and competitive industry.
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Hybrid Vehicle (HV) and Electric Vehicle (EV) Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Questions This Study Will Answer
Segmentation
xEV Definitions: BEV, PHEV and HEV
Key Competitors*
Growth Metrics
Growth Drivers
Growth Drivers (continued)
Growth Restraints
Growth Restraints (continued)
Forecast Assumptions
LV Sales Forecast by Powertrain
xEV Sales Forecast by Country
xEV Sales Forecast by Technology
xEV Sales vs. xEV Parc Forecast
xEV Parc Forecast by Technology
Pricing Trends and Forecast Analysis
Competitive Environment
Market Share
OEMs Line Up*
Key Market Trends
Key Growth Metrics
xEV Market Share by Brand and Technology
xEV Performance by OEM
LV Sales Forecast by Powertrain
xEV Sales Forecast by Technology
xEV Sales vs. xEV Parc Forecast
xEV Parc Forecast by Technology
Regulatory Framework
xEV Market Analysis
Key Growth Metrics
xEV Market Share by Brand and Technology
xEV Performance by OEM
LV Sales Forecast by Powertrain
xEV Sales Forecast by Technology
xEV Sales vs. xEV Parc Forecast
xEV Parc Forecast by Technology
Regulatory Framework
xEV Market Analysis
Key Growth Metrics
xEV Market Share by Brand and Technology
xEV Performance by OEM
LV Sales Forecast by Powertrain
xEV Sales Forecast by Technology
xEV Sales vs. xEV Parc Forecast
xEV Parc Forecast by Technology
Regulatory Framework
Chilean Regulatory Framework (continued)
xEV Market Analysis
Key Growth Metrics
xEV Market Share by Brand and Technology
xEV Performance by OEM
LV Sales Forecast by Powertrain
xEV Sales Forecast by Technology
xEV Sales vs. xEV Parc Forecast
xEV Parc Forecast by Technology
Regulatory Framework
xEV Market Analysis
Key Growth Metrics
xEV Market Share by Brand and Technology
xEV Performance by OEM
LV Sales Forecast by Powertrain
xEV Sales Forecast by Technology
xEV Sales vs. xEV Parc Forecast
xEV Parc Forecast by Technology
Ecuadorian Regulatory Framework
Ecuadorian Regulatory Framework (continued)
xEV Market Analysis
Key Growth Metrics
xEV Market Share by Brand and Technology
xEV Performance by OEM
LV Sales Forecast by Powertrain
xEV Sales Forecast by Technology
xEV Sales vs. xEV Parc Forecast
xEV Parc Forecast by Technology
Mexican Regulatory Framework
xEV Market Analysis
Key Growth Metrics
xEV Market Share by Brand and Technology
xEV Performance by OEM
LV Sales Forecast by Powertrain
xEV Sales Forecast by Technology
xEV Sales vs. xEV Parc Forecast
xEV Parc Forecast by Technology
Peruvian Regulatory Framework
xEV Market Analysis
Key Growth Metrics
xEV Market Share by Brand and Technology
xEV Performance by OEM
LV Sales Forecast by Powertrain
xEV Sales Forecast by Technology
xEV Sales vs. xEV Parc Forecast
xEV Parc Forecast by Technology
Uruguayan Regulatory Framework
xEV Market Analysis
Growth Opportunity 1: The Rise of BEVs
Growth Opportunity 1: The Rise of BEVs (continued)
Growth Opportunity 2: Electrification of Taxis
Growth Opportunity 2: The Electrification of Taxis (continued)
Growth Opportunity 3: Partnerships for EV Charging Infrastructure Development
Growth Opportunity 3: Partnerships for EV Charging Infrastructure Development (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
List of Figures
- Hybrid and Electric Vehicles: Growth Metrics, Latin America, 2022
- HVs and EVs: Growth Drivers, LATAM, 2023-2035
- HVs and EVs: Growth Restraints, LATAM, 2023-2035
- HVs and EVs: LV Sales Forecast by Powertrain, LATAM, 2020-2035
- HVs and EVs: xEV Sales Forecast by Country, LATAM, 2020-2035
- HVs and EVs: xEV Sales Forecast by Technology, LATAM, 2020-2035
- HVs and EVs: xEV Sales vs. xEV Parc Forecast, LATAM, 2020-2035
- HVs and EVs: xEV Parc Forecast by Technology, LATAM, 2020-2035
- HVs and EVs: Market Share, LATAM, 2022
- Growth Metrics: Argentina, 2022
- HVs and EVs: xEVs Sales by Brand, 2022
- HVs and EVs: xEVs Sales by Technology, 2022
- HVs and EVs: xEV Sales by Brand, 2020-2022
- HVs and EVs: xEV Market Share by Brand, 2020-2022
- HVs and EVs: LV Sales Forecast by Powertrain, Argentina, 2020-2035
- HVs and EVs: xEV sals forecast by Technology, Argentina, 2020-2035
- HVs and EVs: xEV Sales vs. xEV Parc Forecast, Argentina, 2020-2035
- HVs and EVs: xEV Parc Forecast by Technology, Argentina, 2020-2035
- Growth Metrics: Brazil, 2022
- HVs and EVs: xEVs Sales by Brand, 2022
- HVs and EVs: xEVs Sales by Technology, 2022
- HVs and EVs: xEV Sales by Brand, 2020-2022
- HVs and EVs: xEV Market Share by Brand, 2020-2022
- HVs and EVs: LV Sales Forecast by Powertrain, Brazil, 2020-2035
- HVs and EVs: xEV Sales Forecast by Technology, Brazil, 2020-2035
- HVs and EVs: xEV Sales vs. xEV Parc Forecast, Brazil, 2020-2035
- HVs and EVs: xEV Parc Forecast by Technology, Brazil, 2020-2035
- Growth Metrics: Chile, 2022
- HVs and EVs: LV Sales Forecast by Powertrain, Chile, 2020-2035
- HVs and EVs: LV Sales Forecast by Technology, Chile, 2020-2035
- HVs and EVs: xEV Sales vs. xEV Parc Forecast, Chile, 2020-2035
- HVs and EVs: xEV Parc Forecast by Technology, Chile, 2020-2035
- Growth Metrics: Colombia, 2022
- HVs and EVs: xEVs Sales by Brand, 2022
- HVs and EVs: xEVs Sales by Technology, 2022
- HVs and EVs: xEV Sales by Brand, 2020-2022
- HVs and EVs: xEV Market Share by Brand, 2020-2022
- HVs and EVs: LV Sales Forecast by Powertrain, Colombia, 2020-2035
- HVs and EVs: xEV Sales Forecast by Technology, Colombia, 2020-2035
- HVs and EVs: xEV Sales vs. xEV Parc Forecast, Colombia, 2020-2035
- HVs and EVs: xEV Parc Forecast by Technology, Colombia, 2020-2035
- Growth Metrics: Ecuador, 2022
- HVs and EVs: LV Sales Forecast by Powertrain, Ecuador, 2020-2035
- HVs and EVs: xEV Sales Forecast by Technology, Ecuador, 2020-2035
- HVs and EVs: xEV Sales vs. xEV Parc Forecast, Ecuador, 2020-2035
- HVs and EVs: xEV Parc Forecast by Technology, Ecuador, 2020-2035
- Growth Metrics: Mexico, 2022
- HVs and EVs: xEVs Sales by Brand, 2022
- HVs and EVs: xEVs Sales by Technology, 2022
- HVs and EVs: xEV Sales by Brand, 2020-2022
- HVs and EVs: xEV Market Share by Brand, 2020-2022
- HVs and EVs: LV Sales Forecast by Powertrain, Mexico, 2020-2035
- HVs and EVs: xEV Sales Forecast by Technology, Mexico, 2020-2035
- HVs and EVs: xEV Sales vs. xEV Parc Forecast, Mexico, 2020-2035
- HVs and EVs: xEV Parc Forecast by Technology, Mexico, 2020-2035
- Growth Metrics: Peru, 2022
- HVs and EVs: LV Sales Forecast by Powertrain, Peru, 2020-2035
- HVs and EVs: xEV Sales Forecast by Technology, Peru, 2020-2035
- HVs and EVs: xEV Sales vs. xEV Parc Forecast, Peru, 2020-2035
- HVs and EVs: xEV Parc Forecast by Technology, Peru, 2020-2035
- Growth Metrics: Uruguay, 2022
- HVs and EVs: xEVs Sales by Brand, 2022
- HVs and EVs: xEVs Sales by Technology, 2022
- HVs and EVs: xEV Sales by Brand, 2020-2022
- HVs and EVs: xEV Market Share by Brand, 2020-2022
- HVs and EVs: LV Sales Forecast by Powertrain, Uruguay, 2020-2035
- HVs and EVs: xEV Sales Forecast by Technology, Uruguay, 2020-2035
- HVs and EVs: xEV Sales vs. xEV Parc Forecast, Uruguay, 2020-2035
- HVs and EVs: xEV Parc Forecast by Technology, Uruguay, 2020-2035
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