Sales of hybrid and electric vehicles experienced a 55.7% increase during September 2023 compared to the same month of the previous year.
According to the report from the Mexican Automotive Industry Association (AMIA) based on information published by the National Institute of Statistics and Geography (INEGI), a total of 6,235 vehicles were sold that month, representing 5.3% of the total sales in the country.
This increase was mainly driven by the sales of 1,240 EVs, 500 plug-in hybrids, and 4,495 hybrids.
Within this segment, EVs saw an increase of 232% compared to the year 2022.
Following were plug-in hybrids, which showed a 44.5% increase compared to the previous year.
Finally, in terms of variations, hybrids increased by 36.8%.
In the first nine months of 2023, a total of 48,745 vehicles with hybrid and electric technologies were sold, constituting 5% of the total sales of light vehicles in Mexico.
It is worth mentioning that compared to the year 2022, the registration of hybrid and EVs increased by 39.2% in the period from January to December.
Breaking down the aforementioned data, during January and September 2023, 12,363 units with this type of technology were sold in Mexico City, accounting for 25.4% of total sales.
In the sales ranking, the State of Mexico follows with 6,422 units, Nuevo León with 5,064, and Jalisco with 4,222.
In this way, five consecutive months with a penetration of 5% or more of total sales in the Mexican automotive market are consolidated.
What’s the reason for this rise in electric vehicle sales?
According to the “Mapping of Electromobility in Mexico” report presented by the Automotive Directory of Mexico, 83 new investments in the electromobility sector were identified in the third quarter of 2023.
This represents an investment of 5.021 million in the country, mainly in the northeast, with 41 projects.
In the Western Lowlands, 27 projects were presented, ten of them in Guanajuato and another seven in San Luis Potosí.
Among the main investments are those of vehicle manufacturers such as BMW, with an investment of 872 million dollars, including a plant for high-voltage batteries to produce EVs in 2027.
Stellantis also announced that by the end of this year, they would start production of electric models of minivans and pickups.
This involved an investment of 200 million dollars to adapt their production lines in the country.
In addition, Toyota invested 328 million dollars in its Guanajuato plant to produce the fourth generation of the Tacoma model, including its electric hybrid version.
What are the projections for 2024 in Mexico?
According to data obtained by the Mexican Automotive Industry, official announcements are expected from Audi and Volkswagen for the upcoming year.
As mentioned in an official report, Volkswagen could begin to produce engines for electric vehicles at its Silao plant and integrate electric production lines into its Puebla plant.
On the other hand, Audi has already started producing hybrid versions of the Audi Q5 models, and it is expected to announce the integration of a fully electric version of the Q5 at its plant in San José Chiapa, Puebla, in 2024.
As well as Tesla Gigafactory Mexico in Santa Catarina, Nuevo León, which is set to begin construction in the first half of 2024.
“Approximately $15 billion in investments could be generated solely in the arrival of first and second-level suppliers for Tesla,” the report states.