Brazil EV Gross sales Report: In February, For five Months In A Row, EV Gross sales Surpassed 10,000

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Final Up to date on: twenty second March 2025, 01:17 am

EV gross sales in February grew by 55% yr over yr in Brazil. The nation broke report after report. In 2024, it bought greater than 100,000 EVs, making it one of many few nations worldwide to have reached that quantity. In February 2025, it bought over 10,000 EVs for the fifth month in a row; and for the third month in a row, Brazil achieved an EV market share of over 5% (5.4% in December, 6% in January, 5.6% in February), making it the fourth most superior Latin American nation within the path in direction of electrification!

Market Overview

As Brazil market exploded in late 2023 and early 2024, and we had outrageous headlines speaking about 1,100% progress yr on yr (YoY), it was clear sooner or later progress must average considerably. That point appears to have come now, besides, 45% progress from a comparatively excessive base looks like excellent information, and extra in order Brazil has been in a position to persistently keep over 5% market share in the previous few months. In an total market simply shy of 200,000 items (not together with bikes), EV gross sales appear to have stabilized within the brief time period round 10,000 items a month:

Brazil’s market stays closely skewed in direction of PHEVs, one thing I’ve already commented on. Brazil, having guess huge on flexi-fuel engines (able to working on ethanol or ethanol-gasoline mixtures), and by far the biggest nation within the area so far as landmass, is of course going to be extra involved in PHEVs than the remainder of Latin America.

Market share has been steadily rising, even when the instances of meteoric progress appear to be over (April 23 to January 24). My guess, nevertheless, is on excessive progress returning within the close to future as BYD, Chery, and GWM begin churning out their BEVs and PHEVs within the coming months.

Brazil additionally has a class for “flexi-fuel HEVs,” which even when not EVs by any metric, might nonetheless make a major distinction so far as oil consumption goes. Nevertheless, the best-case state of affairs for ethanol is to be paired with PHEVs and long-range EREVs, as that might enable for electric-only use within the cities (powered by Brazil’s more and more clear era) and for ethanol use in hyper-efficient powertrains throughout longer journeys.

BYD stays the dominant model on this market regardless of the delays in Camaçari, commanding a tremendous 77% of the BEV market share in February:

PHEVs are more durable to find out, as many manufacturers have fashions that may be both HEV or PHEV, however since BYD has no HEVs, we all know for sure it bought practically 3,500 PHEVs, or 59% of all PHEVs bought in Brazil throughout February. On this month, BYD additionally received all the podium for itself, and even the 4^th place because of the BYD Dolphin:

12 months so far, BYD maintains a tremendous 71% BEV and 60% of PHEV gross sales. It’s necessary to notice that model rankings deal with BEV gross sales completely, whereas Brazil’s official knowledge mixes PHEVs and HEVs, making it very tough to calculate the precise quantity every model bought (other than BYD and Volvo which have solely PHEVs of their line-up):

Mannequin-wise, BYD as soon as once more received all the prime 4 for itself, however GWM will get forward of Volvo because of the ORA 03:

(As a sidenote, all fashions that may be bought as an HEV and a PHEV, together with the Haval H6 and the Chery Tiggo, are lacking from these rankings).

Ultimate Ideas

Three years in the past (in February 2022), at 0.8% market share, Brazil’s EV market might as properly haven’t existed. Two years in the past, it doubled to 1.5%, and a yr in the past, it practically tripled to 4.5%, making Brazil one of many main nations within the area. However this yr, at 5.6%, market share has grown by a mere 29%, not dangerous by any means, however far beneath the spectacular information of 2024. Market share did attain 6% in January, but the trail to 10% appears to be taking longer than I anticipated.

A big a part of this, little doubt, is the top of the exemption EVs beforehand had on tariffs. Brazil is a really protected market, and as soon as this profit was phased out, the price of EVs elevated. This additional will increase the significance of domestically produced EVs, but the Chinese language appear to be taking their candy time: GWM shouldn’t be producing the ORA 03 domestically, as a substitute specializing in the Haval H6, principally in a hybrid presentation (although it’s additionally supplied as a plug-in hybrid). Chery is producing all the Chery Tiggo lineup, however full ICEVs and HEVs stay far more inexpensive than the PHEV variants (the ICEV Tiggo 7 may be bought from USD$25,500, the PHEV model begins at $42,000), and the absolutely electrical EQ7 shouldn’t be even being supplied, a lot much less being constructed there. Additionally, BYD, which was supposed to begin constructing the Track and the Dolphin Mini within the nation, has confronted delays after an investigation opened into mistreatment and abuses in direction of the employees constructing the corporate (one thing that there was no new details about), however the model stays dedicated to begin manufacturing in 2025.

But I need to remind myself (and our pricey readers) that solely two months have handed since Brazil’s all-time EV gross sales report (December 2024), and that the very best market share ever was reached final January. The forces fueling the transition to EVs is probably not urgent as onerous as they have been final yr, however they exist nonetheless, and finally native manufacturing will start and EV adoption will enter a second wave of speedy progress.

And as soon as that occurs, Brazil may also gasoline EV adoption in these nations who import their autos from there. Therein lies the significance of Brazil for the way forward for electrification in Latin America.

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