Electric vehicles unit sales in Mexico 2020-2023

In June 2023, nearly 1,200 battery-electric vehicles were sold in Mexico. December 2022's sales were the highest on recent record, an increase over four times the sales volume recorded in December 2021.

Electric vehicles worldwide

From 2015 to 2022, global plug-in electric light vehicle sales have risen significantly. Battery electric vehicles have also seen sizable growth in sales, though at a slightly slower rate than plug-in EVs. As electric cars evolve from the hybrid model to less gasoline-dependent models, the market value of smart grid technology worldwide is predicted to more than double from 2022 to 2028.

Market growth in Latin America

Though the electric vehicle industry continues to expand in Latin America, the region currently has the lowest smart grid market value, just behind the Middle East and Africa. Within Latin America, the number of registered electric and hybrid vehicles has rapidly risen in Colombia as well as in Brazil, where the market's growth has been comparatively steady. As Mexico builds its charging infrastructure for plug-in electric vehicles, hybrids have been a more popular choice for customers seeking a petrol-saving alternative to the conventional automobile.