Latin American Auto Industry

Available statistics point to strong sales of Chinese EVs in Latin America. According to market research company Rho Motion global sales of electric (EV) and plug-in hybrid vehicles rose by 24% in May this year compared to the same month in 2024, to reach 1.6m units. Demand was led by China itself with a slower rate of expansion in North America. Chinese manufacturers such as BYD were beginning to focus more intensely on emerging markets. Rho Motion said the picture was complicated by import tariffs, with the US applying a 25% charge, forcing many non-US companies to reconsider their sales projections for this year. Sales in China were up by 24%, those in Europe grew 36.2%, and those in the rest of the world, including Latin America, were up by 38%.

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