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% 12 months over 12 months in Brazil. The nation broke file after file. In 2024, it bought greater than 100,000 EVs, making it one of many few international locations 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 the 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 12 months on 12 months (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 as if superb information, and extra in order Brazil has been capable of persistently preserve over 5% market share in the previous few months. In an total market simply shy of 200,000 models (not together with bikes), EV gross sales appear to have stabilized within the brief time period round 10,000 models a month:

Brazil’s market stays closely skewed in the direction of PHEVs, one thing I’ve already commented on. Brazil, having guess large on flexi-fuel engines (able to operating on ethanol or ethanol-gasoline mixtures), and by far the most important nation within the area so far as landmass, is of course going to be extra considering 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. Nonetheless, the best-case state of affairs for ethanol is to be paired with PHEVs and long-range EREVs, as that will 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 an incredible 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 almost 3,500 PHEVs, or 59% of all PHEVs bought in Brazil throughout February. On this month, BYD additionally bought the complete podium for itself, and even the 4^th place due to the BYD Dolphin:

Yr thus far, BYD maintains an incredible 71% BEV and 60% of PHEV gross sales. It’s essential to notice that model rankings give attention to BEV gross sales solely, whereas Brazil’s official knowledge mixes PHEVs and HEVs, making it very troublesome to calculate the precise quantity every model bought (apart from BYD and Volvo which have solely PHEVs of their line-up):

Mannequin-wise, BYD as soon as once more bought the complete high 4 for itself, however GWM will get forward of Volvo due to 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).

Remaining Ideas

Three years in the past (in February 2022), at 0.8% market share, Brazil’s EV market might as effectively haven’t existed. Two years in the past, it doubled to 1.5%, and a 12 months in the past, it almost tripled to 4.5%, making Brazil one of many main international locations within the area. However this 12 months, at 5.6%, market share has grown by a mere 29%, not unhealthy 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 question, 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 will not 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 the complete Chery Tiggo lineup, however full ICEVs and HEVs stay far more inexpensive than the PHEV variants (the ICEV Tiggo 7 will be bought from USD$25,500, the PHEV model begins at $42,000), and the totally electrical EQ7 will not 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 the 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 file (December 2024), and that the very best market share ever was reached final January. The forces fueling the transition to EVs will not be urgent as laborious as they had been final 12 months, 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 will even gas EV adoption in these international locations who import their automobiles from there. Therein lies the significance of Brazil for the way forward for electrification in Latin America.