Summary
– Chile has the potential to lead Latin America in electric mobility
– EV sales in Chile have surged in the last three months
– BYD and Tesla have played a significant role in increasing EV sales in Chile
– BEVs have seen a significant increase in sales compared to PHEVs
– Tesla Model 3, BYD Dolphin Mini, and BYD Song are leading EV models in Chile market
Article
Chile has the potential to lead Latin America in electric mobility due to its abundance of renewable electricity, lack of meaningful oil reserves, and small, wealthy population. However, EV sales in the country lagged behind other Latin American countries like Uruguay, Brazil, and Colombia until recently. In the last three months, EV sales in Chile have soared, with more than 400 vehicles sold each month, getting close to a 2% market share and rising 300% cumulatively and 500% in May year-over-year. This surge in EV sales has turned Chile into a rising star in the region.
Despite being a smaller market compared to some of its Latin American peers, Chile has seen a significant increase in EV sales, with battery electric vehicles (BEVs) crossing the 1% market share mark and plug-in hybrids (PHEVs) nearing 2%. The market in Chile is predominantly focused on BEVs, with sales growing sevenfold since January 2022. BYD and Tesla have played a significant role in the increase in EV sales in the country, with their models contributing to the rising market share of electric vehicles in Chile.
The most popular EV models in Chile include the Tesla Model 3, BYD Dolphin Mini, and BYD Song. Other brands like Kia and Volvo also have models in the top 10, but the market is dominated by Chinese-made vehicles. The presence of these Chinese brands in the market has solidified their position as leaders in the Chilean EV market, with Korean brands not far behind and Legacy Auto brands falling behind in the race for market share. The affordability and availability of Chinese EV models have driven the growth of the electric vehicle market in Chile.
Chile is experiencing rapid growth in its EV market, with sales of electric vehicles expected to continue to increase throughout the year. The introduction of models like the BYD Seagull/Dolphin Mini has triggered a shift in the market, similar to what was seen in Costa Rica with the Geometry E last year. By the end of the year, several countries in the region are likely to have high EV market shares, with Chile potentially reaching or surpassing a 10% market share. The future of the EV market in Chile looks promising, with more growth and adoption of electric vehicles expected in the coming months.
In conclusion, Chile has seen a significant increase in EV sales in recent months, with BYD and Tesla leading the charge in expanding the market. The country’s EV market share has risen to nearly 2%, with BEVs dominating the sales figures. Chinese brands like BYD have made a significant impact on the Chilean EV market, with Korean and Legacy Auto brands also making their presence felt. The future of electric mobility in Chile looks bright, with continued growth and adoption of electric vehicles expected in the near future.
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