Mexico's EV Sales Surge: 5.2% Market Share in 2023
Mexico's automotive industry has witnessed a significant shift towards electric mobility, according to the Mexican Automotive Industry Association (AMIA). Between January and November 2023, electric vehicles (EVs) accounted for 5.2% of total light vehicle sales, marking seven consecutive months with a penetration of five per cent or more.
The State of Mexico ranked second in sales with 8,351 vehicles, contributing 13.1% to the market. Meanwhile, Mexico City led the nation with 16,518 units, representing 25.9% of the national total.
Hyundai vehicles dominated the market, accounting for 73.5% of registrations with 46,831 units. Plug-in hybrids followed with 8.04% and 5,123 units. Pure electric vehicles made up 18.46% of registrations, totaling 11,766 units.
AMIA reported a 40.7% increase in hybrid and electric vehicle registrations compared to 2022, with 63,720 units registered. November 2023 set a new record for monthly registrations, with 8,417 units sold.
The Mexican automotive industry's embrace of electric mobility continues to grow, with Hyundai vehicles leading the market. The increasing sales and record-breaking months indicate a promising future for electric vehicles in Mexico.
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