Looking at the
EV trends in Latin America, most being sold are subcompact. I think it is pretty obvious that people in the USA prefer larger vehicles at this point in time (right, wrong or indifferent). The first SUV that appears on the list for Latin America is the #6.
Looking at
other places in the world, it looks like they have reduced or eliminated import taxes/tariffs ( and/or or VATs) way below what other vehicles would be (1% versus 11% in Thailand's case) - which reduces the cost BIGLY
But, what I found most interesting was the first graph in the link just above. China is first in purchasing BEV and PHEV (not surprising), Europe is second and USA is third. The REST OF THE WORLD (including Latin America, Viet Nam, Uruguay etc) adds up to just slightly less than the USA.
Ah, looking at this IEA report for EVs takes me back to the days of looking at their predictions for renewable energy 10 years ago.
Global EV Outlook 2025 - Analysis and key findings. A report by the International Energy Agency.
www.iea.org
They predict that EU and China will be >50% and >80% EVs in new light vehicle sales in 2030. And they predict that US and Japan will be at 20%. For the US, that means a doubling of EV sales (fraction) and ~4X larger EV fleet component (still under 10%) in 2030.
This is derived from looking at 'stated policies' of the different countries. Under the Biden admin, the US was targeting 50% EV sales share in 2030, so I suppose that under the current regime that has to be revised down to minimal growth.
Ofc this post is mostly what the kids call 'cope'.
But the IEA has a clear history of underestimating growth (e.g. doing linear projections of exponential growth) in renewable energy: solar, wind and batteries. Especially during times when 'stated policies' were weak.
So I'd like to think that this IEA prediction will be no more accurate than those other ones from 10 years ago.
The report points out that their projection lat year was EVs would reach 50% sales in 2030, and they revised it down to 20% based upon policy announcements in Q1 2025. That's quite a revision!
Ofc, if the US decides to kill domestic production, and tariff (or outright ban) foreign models from the market, then ofc EV sales will be squat. Right now, the situation is not quite that bad (foreign brands have eluded most tariffs, domestic makers are still selling EVs)... so we shall see.
The biggest unknown is how long the current (EV) policies will last.
Here is the 2024 equivalent for comparison. Predicts US at 70% EV light vehicle sales in 2035.
Global EV Outlook 2024 - Analysis and key findings. A report by the International Energy Agency.
www.iea.org