Uruguay has established itself because the second most superior nation in Latin America relating to automobile electrification, usually competing with Costa Rica for the highest place. Resulting from its small market dimension, with fewer than 100,000 automobile gross sales yearly, Uruguay experiences important seasonal fluctuations, making its market dynamics tougher to research in comparison with bigger nations like Mexico, Colombia, or Peru.
Final June, a outstanding surge in electrical automobile (EV) gross sales propelled Uruguay’s market share to fifteen%. Nonetheless, this spike was an anomaly, and gross sales reverted to the standard vary, progressively rising from 7% to 10% through the second half of 2024. Now, in 2025, Uruguay is as soon as once more demonstrating robust progress, and there are hopes that battery electrical automobile (BEV) gross sales will proceed to rise.
Presently, Uruguay doesn’t present separate information for plug-in hybrid electrical autos (PHEVs), categorizing all hybrids collectively. However, it’s noteworthy that BEVs account for greater than double the gross sales of hybrid autos. Like Costa Rica, Uruguay’s market is closely oriented towards BEVs.
Month-to-month automobile gross sales usually hover round 6,000 models. In February, practically 900 BEV gross sales had been achieved, pushing Uruguay’s market share over the essential 10% threshold, marking a file excessive for BEVs, whilst total automobile gross sales decreased in comparison with earlier months. Market share rose to fifteen.4% in February, in comparison with 10% in January and 12.1% in December. Though this determine represents substantial progress, it doesn’t appear to be an remoted prevalence.
BYD stays the dominant participant in Uruguay’s EV market, although its share has declined from 75% in June 2024 to 60% in February 2025. Different manufacturers reminiscent of Dongfeng, JMC, and Chery path considerably behind. Notably, solely Hyundai and BMW from non-Chinese language producers made it into the highest ten manufacturers.
By way of fashions, BYD leads the way in which, taking the highest three spots in February with the Seagull, adopted by a wide range of metropolis automobiles and hatchbacks. Whereas SUVs just like the BYD Yuan Professional and Plus, Chery EQ7, and Hyundai Kona do seem, the market presently favors smaller autos.
Yr-to-date rankings mirror comparable tendencies, with GWM changing Volvo within the prime ten. The BYD Yuan Professional stays on the forefront, sustaining a commanding 60% market share.
Uruguay’s excessive gasoline costs, roughly USD $7 per gallon, considerably contribute to the rising adoption of EVs. The nation’s reliance on inexpensive wind vitality, a lot of which is exported to Brazil, helps its rising EV fleet.
Though developments are minimal, it’s value noting that Sensible, a European model owned by a Chinese language firm, is about to enter the Uruguayan market. Given the astronomical progress of 246% in EV gross sales year-to-date, a slowdown is anticipated because the market matures. There may be ongoing hypothesis about when Uruguay will obtain a 50% BEV market share; beforehand estimated to happen by 2030, some analysts are actually contemplating the opportunity of an earlier date, maybe in 2028 or 2029.
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