Latin America: E-vehicles revenue, by country 2023

Mexico is leading the ranking by electric vehicles revenue in the electric vehicles market, recording 34 billion U.S. dollars. Following closely behind is Brazil with 5.3 billion U.S. dollars, while Argentina is trailing the ranking with 21.69 million U.S. dollars, resulting in a difference of 34 billion U.S. dollars to the ranking leader, Mexico.

Find more statistics on other topics: a comparison of countries or regions regarding the electric vehicles revenue and a comparison of the value share by brand in the United Arab Emirates.

The Statista Market Insights cover a broad range of additional markets.

Electric vehicles revenue in selected Latin American countries in 2023 (in million U.S. dollars)

Characteristic	Revenue in million U.S. dollars
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Supplementary notes

Data provided by Statista Market Insights are estimates.

CO2 emissions exert a profound influence on climate and the environment, fueling the greenhouse effect and contributing significantly to global climate change. Nearly one-fourth of these emissions worldwide can be attributed to the transportation sector. Electric vehicles (EVs) emerge as a promising solution, potentially acting as a carbon-neutral alternative when powered by renewable energy sources. This underscores their pivotal role in mitigating the impact of traditional combustion engine vehicles on the environment.

The Electric Vehicles market includes information about electric vehicles in countries where, according to our sources, a public electric vehicle charging infrastructure is already available. In this context, “public” means that people have unrestricted access to the charging infrastructure. A vehicle can be defined as electric if it is self-contained with a battery or classified as a plug-in hybrid. All key figures shown represent the sales of new cars, and their basic configuration in the respective year. The figures do not include the sale of used vehicles nor adapted equipment for the new cars sold. The prices and revenues shown are accordingly based on the basic models.

The Electric Vehicle market is divided into distinct two distinct markets, namely Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). This categorization allows for a nuanced understanding of the market dynamics, considering the specific attributes and market penetration of each electric vehicle type. The emphasis on new car sales and their foundational configurations ensures clarity, while the exclusion of used vehicles and customizations maintains focus on the evolving landscape of electric vehicles.

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