While brands see that they will not reach a 25% market share of electric cars in Europe, one in four cars sold in Costa Rica Last July was an electric month. Specifically, sales of Electric cars have reached a 27% share last July.
Costa Rica is by far the Latin American country with the highest share of electric cars, even surpassing Uruguay – a segment that had a growth of almost 81% in 2023- and Colombia, until now the two countries with the highest penetration of electric vehicles on a continent where electric vehicles are conspicuous by their absence. MexicoFor example, electrified cars (hybrid, PHEV and electric) accounted for 5.3% of new car sales in 2023, with electric cars being a small exception as they represented 14% of that 5.3%.
Costa Rica, the Norway of Latin America
In Costa Rica, the total market share for July of electric cars reached 27%, which would raise the annual rate at almost 17%. Let us remember that in Spain, the electric market share barely exceeded 5% in 2023.
On the other hand, sales of electric cars in Costa Rica in the first seven months of 2024 are already 10% higher than in all of 2023. Last year, the market share of electric cars in Costa Rica was 11.7%.
The enormous growth in the sale of electric cars in Costa Rica is partly explained by a new taxation on cars, which will come into force in 2025. Faced with the prospect of having to pay more taxes and receive less purchase aid in the form of tax reductions, many motorists have brought forward their purchases.
In any case, currently, there are more than 15,000 electric cars in circulation out of a fleet of 1.6 million cars. This is practically 1% of the fleet.
Compared to Norway, where more than 25% of the vehicle fleet is electric, this is rather small, but it is still double the share of Spain, where the more than 150,000 electric cars in circulation out of a vehicle fleet of 25 million cars represent just 0.6% of the vehicle fleet.
In many ways, such as the electric car, Costa Rica could be said to be the Norway of Latin America. And it has in common with the Scandinavian country that more than 99% of the energy used comes from renewable energy sources, both from hydroelectric plants and wind farms, but also from a geothermal project that produces almost 273 GWh per year.
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Source: www.motorpasion.com
