Mobility Portal, Spain
Date: February 21, 2024
Mobility Portal Favicon
By Mobility Portal
Latin America

Record: Mexico surpasses 6% of sales in electric and hybrid vehicles for the first time in history

The electric and hybrid market exceeds historical sales percentage in Mexico. What is the market analysis? All the details in this article from Mobility Portal Latinoamérica.

As every year, the Mexican Automotive Industry Association (AMIA) revealed the highlights of the development of electric mobility in the country between January and November 2023.

During the observed period, 63,720 hybrid and electric vehicles were registered in Mexico, representing a 40.7 per cent increase compared to 2022, which recorded 45,292 registrations in 11 months.

This figure translates to a 5.2 per cent share of total light vehicle sales in the northern country.

With this result, seven consecutive months have seen a penetration of five per cent or more of total sales, surpassing the six per cent mark for the first time in the national automotive history, demonstrating the Mexican citizens’ trend towards electrifying their fleet and personal vehicles.

Within this figure, the best-selling segment was hybrids, whose market reached 73.5 per cent of car registrations with this technology, totaling 46,831 registrations.

Pure electric vehicles followed at a distance (18.46 per cent), with 11,766 units, and plug-in hybrids at (8.04 per cent), with 5,123 entries.

HEVs did not show a significant variation from the previous year compared to electric vehicles, increasing their sales by just 27 per cent, while BEVs grew by 169.2 per cent compared to 2023.

The increase in 100 per cent electric units resulted in a doubling of the market share held by these models, compared to the January-November cycle of the previous year.

Meanwhile, the offer of plug-in hybrids also increased by 27 per cent, maintaining its share in total sales below 0.5 per cent constant.

On the other hand, during the period under study, November proved to be the busiest month with 8,417 units registered.

With this figure, November records the peak of monthly registrations for hybrid and electric vehicles not only in 2023 but also in the history of the Caribbean country.

Which states recorded the highest sales of hybrids and electric vehicles?

2023 was a great year for next-generation vehicles.

As usual, this success was concentrated in states with the most activity and most populous cities.

The capital, Mexico City, leads the way with 16,518 sales, representing 25.9 per cent of the national total.

The State of Mexico comes in second, with 8,351 vehicles sold, reaching 13.1 per cent of the market.

Nuevo León closely follows with 6,436 units sold, representing 10.1 per cent of national sales, followed by Jalisco and Puebla, with 5,556 and 3,064 sales, respectively.

Guanajuato and Sinaloa also appear in the ranking, with 2,095 and 1,990 sales, representing 3.3 per cent and 3.1 per cent of the Mexican market for electric and hybrid vehicles.

Where are hybrid and electric vehicles standing?

José Zozaya of AMIA, advocate for electric and hybrid vehicles.

The 2023 statistics demonstrate the growing importance of vehicle electrification in the Mexican economy.

However, everything indicates that the Mexican population will see another presidential term end without a regulatory framework for electromobility in the pipeline, according to José Zozaya, President of AMIA, in dialogue with Mobility Portal Latinoamérica.

This has been the trend for the last five years, and the sector does not believe it will be reversed in the coming months.

While the government has expressed interest in the electric and hybrid market and has shown openness to dialogue with industry stakeholders, traditionally, the last year of each administration sees little progress in this area.

Read more: From Spain to the world: Vega Chargers launches a 600 kW charger with dynamic balancing that arrives in Latin America

Separator Single Post

Leave a Reply

Your email address will not be published. Required fields are marked *