South America Electric Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028

The South America Electric Vehicles Market is segmented by Vehicle Type ( Commercial Vehicles ) , by Fuel Type ( ) and by Country ( Rest-of-Latin America )

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South America Electric Vehicles Market Size

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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2016 - 2028
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR 6.98 %
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Concentration High
https://s3.mordorlabs.com/passenger_vehicles/1629285650768_test~passenger_vehicles_passenger_vehicles.svg Largest Share by Vehicle Type Commercial Vehicles
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country Argentina
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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South America Electric Vehicles Market Analysis

The South America Electric Vehicles Market is projected to register a CAGR of 6.98%

  • Largest Segment by Vehicle Type - Commercial Vehicles : With the increase in electric mobility, the sales of electric passenger cars have grown significantly in recent years. Moroever growth in fuel prices is also shifting people to green vehicles.
  • Fastest-growing Segment by Vehicle Type - Light Commercial Vans : Transportation sector in South America is highly potential for e-mobility, and governmental efforts in terms of rebates and subsidies are promoting electric buses in South America.
  • Largest Segment by Fuel Type - BEV : Many OEMs have manufactured BEV across South America due to the increase in prices of gasoline and diesel. Government incentives and rebates along with norms are making BEV the largest fuel type.
  • Largest Segment by Country - Argentina : In 2021, nearly 35 thousand units were sold in Brazil, an increase of 77% over the previous year, growing population, government norms, and rebates are adding to the growth of EVs.

South America Electric Vehicles Market Trends

This section covers the major market trends shaping the South America Electric Vehicles Market according to our research experts:

Commercial Vehicles is the largest segment by Vehicle Type.

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Argentina is the largest segment by Country.

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South America Electric Vehicles Industry Overview

The South America Electric Vehicles Market is moderately consolidated, with the top five companies occupying 58.70%. The major players in this market are Audi AG, Hyundai Motor Company, Nissan Motor Company Ltd, Toyota Motor Co. and Volkswagen AG (sorted alphabetically).

South America Electric Vehicles Market Leaders

  1. Audi AG

  2. Hyundai Motor Company

  3. Nissan Motor Company Ltd

  4. Toyota Motor Co.

  5. Volkswagen AG

*Disclaimer: Major Players sorted in no particular order

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South America Electric Vehicles Market News

  • August 2022: General Motors Middle East (GM MEO), announced the signing of a Memorandum of Understanding (MoU) with Al Wegdaniya Transport to explore electric vehicle (EV) leasing opportunities. The MoU reinforces the mutual commitment to bring electrification to all modes of transport.
  • July 2022: Ford has announced a series of initiatives for sourcing battery capacity and raw materials that helps reach its targeted annual run rate of 600,000 electric vehicles by late 2023 and more than 2 million by the end of 2026.
  • June 2022: The United Arab Emirates’ Ministry of Energy and Infrastructure (MoEI), Audi Middle East, and Siemens signed an agreement to cooperate on boosting electric vehicle (EV) charging capacity on federal roads and increasing adoption of EVs across the country.

South America Electric Vehicles Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1. Study Assumptions & Market Definition

    2. 1.2. Scope of the Study​

    3. 1.3. Research Methodology

  2. 2. KEY INDUSTRY TRENDS

    1. 2.1. Population

    2. 2.2. GDP

    3. 2.3. CVP

    4. 2.4. Inflation Rate

    5. 2.5. Interest Rate For Auto Loans

    6. 2.6. Battery Price (per Kwh)

    7. 2.7. Logistics Performance Index

    8. 2.8. Electrification Impact

    9. 2.9. New XEV Models Announced

    10. 2.10. Charging Stations Deployment

    11. 2.11. Regulatory Framework

    12. 2.12. Value Chain & Distribution Channel Analysis

  3. 3. MARKET SEGMENTATION

    1. 3.1. Vehicle Type

      1. 3.1.1. Commercial Vehicles

    2. 3.2. Fuel Type

    3. 3.3. Country

      1. 3.3.1. Rest-of-Latin America

  4. 4. COMPETITIVE LANDSCAPE

    1. 4.1. Key Strategic Moves

    2. 4.2. Market Share Analysis

    3. 4.3. Company Landscape

    4. 4.4. Company Profiles

      1. 4.4.1. Audi AG

      2. 4.4.2. BMW AG

      3. 4.4.3. Fiat

      4. 4.4.4. Ford Motor Company

      5. 4.4.5. General Motors

      6. 4.4.6. Honda Motor Co. Ltd.

      7. 4.4.7. Hyundai Motor Company

      8. 4.4.8. JAGUAR LAND ROVER LIMITED

      9. 4.4.9. Kia

      10. 4.4.10. Mercedes-Benz AG

      11. 4.4.11. Nissan Motor Company Ltd

      12. 4.4.12. Porsche

      13. 4.4.13. Renault

      14. 4.4.14. Toyota Motor Co.

      15. 4.4.15. Volkswagen AG

  5. 5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

  6. 6. APPENDIX

    1. 6.1. Global Overview

      1. 6.1.1. Overview

      2. 6.1.2. Porter’s Five Forces Framework

      3. 6.1.3. Global Value Chain Analysis

      4. 6.1.4. Market Dynamics (DROs)

    2. 6.2. Sources & References

    3. 6.3. List of Tables & Figures

    4. 6.4. Primary Insights

    5. 6.5. Data Pack

    6. 6.6. Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 2:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 3:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 4:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 5:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 6:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 7:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 8:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 9:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 10:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 11:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, VOLUME IN UNITS, 2016 – 2026
  1. Figure 12:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, VALUE IN USD, 2016 – 2026
  1. Figure 13:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, BY VEHICLE TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 14:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, BY VEHICLE TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 15:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
  1. Figure 16:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
  1. Figure 17:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 18:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 19:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 20:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 21:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 22:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 23:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 24:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 25:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 26:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 27:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 28:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 29:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, BY REST-OF-LATIN AMERICA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 30:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, BY REST-OF-LATIN AMERICA, BY VALUE IN USD, 2016-2028
  1. Figure 31:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 32:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 33:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 34:  
  2. SOUTH AMERICA ELECTRIC VEHICLES MARKET SHARE(%), BY MAJOR PLAYERS, 2021

South America Electric Vehicles Industry Segmentation

Commercial Vehicles are covered as segments by Vehicle Type. are covered as segments by Fuel Type. Rest-of-Latin America are covered as segments by Country.
Vehicle Type
Commercial Vehicles
Country
Rest-of-Latin America

Report scope can be customized per your requirements. Click here.

Market Definition

  • Body Type - It includes buses, light commercial vehicles, medium& heavy-duty vehicles, medium and heavy-duty buses, trucks, M&HDT.
  • Engine Type - Hybrid and electric vehicles are vehicles that run on batteries and use one or more electric motors for propulsion. .
  • Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV.
  • Sub Body Type - Under this category, buses, heavy-duty commercial trucks, light commercial pickup trucks, light commercial vans, and medium-duty commercial trucks have been included.
  • Vehicle Type - It includes passenger vehicles, commercial vehicles, and two wheelers.

For any queries related to market definition, click here to schedule a call with our analysts.

Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms

For any queries related to research methodology, click here to schedule a call with our analysts.

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South America Electric Vehicles Market Research FAQs

The South America Electric Vehicles Market size accounted for USD 7.78 billion in 2022 and grow at a CAGR of 6.98% to reach USD 11.66 billion by 2028.

In 2022, the South America Electric Vehicles Market size accounted for USD 7.78 billion.

Audi AG, Hyundai Motor Company, Nissan Motor Company Ltd, Toyota Motor Co. and Volkswagen AG are the major companies operating in the South America Electric Vehicles Market.

In the South America Electric Vehicles Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.

In 2023, Argentina accounts for the largest share by country in the South America Electric Vehicles Market.

South America Electric Vehicles Industry Report

Statistics for the 2023 South America Electric Vehicles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Electric Vehicles analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

South America Electric Vehicles Report Snapshots