Join daily news updates from CleanTechnica on e-mail. Or follow us on Google News!
Earlier than November 2023, Colombia had been a constant member of the rostrum in Latin America so far as EV adoption goes. That month the place obtained snatched by Brazil due to the decreasing of the BYD Dolphin’s worth and, later, the arrival of a extra reasonably priced BYD Dolphin Mini (BYD Seagull).
It took a number of months for Colombia to get its personal reasonably priced EVs, however now they’ve arrived, and the nation is as soon as once more rising in gross sales, surpassing Brazil in July 2024 and reaching and all-time excessive share of 5.3% (4.7% BEV). Let’s take a look at the numbers!
Basic overview of the market
Colombia’s EV panorama in 2024 was utterly reworked due to the arrival of three reasonably priced champions: the Volvo EX30 (COP$180’000.000, or $44,900), the BYD Seagull (COP$78’000.000, or $19,500), and the BYD Yuan Up (COP $105’000.000, or $26,200). These three EVs for the primary time in historical past arrived at worth factors just like and even decrease than comparable ICEVs, permitting them to quickly acquire market share from the previous combustion-mobiles. Furthermore, the arrival of those three champions triggered worth wars of their respective segments, making a extra various ecosystem of reasonably priced EVs even when — for now — a lot of the gross sales stay throughout the most-known manufacturers. The outcomes, sales-wise, converse for themselves: the arrival of the Volvo EX30 in February, the BYD Seagull in June, and the BYD Yuan Up in July are clearly seen, as every one represented a big leap in gross sales over the earlier month.
EV gross sales reached a brand new excessive in July, and extra curiously, they did in order PHEV gross sales fell. That is very fascinating as a result of in earlier years PHEVs held a big a part of the market: for instance, in 2021 and 2022, there have been months after they turned extra quite a few than BEVs:
By 2023, BEVs had been persistently extra well-liked, however PHEVs nonetheless held to a 3rd of the market or so. The pattern was solely (and abruptly) damaged in June 2024, when BEVs turned rather more well-liked and began commanding an absolute majority: over 85% of the market.
From my perspective, nonetheless, there’s no thriller as of why that is occurring. PHEV costs stay excessive, with solely two fashions under the psychological barrier of 200 million COP ($49,900) and none under 100 million COP ($24,950). In the meantime, there are no less than six BEV fashions presently underneath 100 million COP (extra in case you embody quadricycles) and we’re in all probability getting shut to twenty fashions out there for underneath 200 million COP. In growing markets, affordability is vital, and the instances when hybrids had been cheaper than BEVs is now within the rear-view mirror.
Market-share sensible, Colombia has lastly reached the 5% barrier (surpassing Brazil), that means we’re into what José calls the Disruption Zone! And the rise within the final two months has been appreciable, which suggests there’s momentum and market share might but rise extra earlier than stabilizing.
The unhappy information is that ICEV gross sales (together with HEVs and MHEVs) have barely elevated, as the general automobile market has been recovering from the depths it reached in earlier months. Thus far, the restoration is gradual and there stays an opportunity that EVs will snatch all of it after which some extra — however, for that to occur, even quicker development is required.
Gross sales rating
It shouldn’t come as a shock for many of our readers that BYD is absolutely the chief in EV gross sales, adopted by Volvo. Extra fascinating issues are occurring under, the place three established automakers are preventing for the bronze (BMW, Renault, and Kia), after which within the second half of the chart, the place three Chinese language and two legacy automakers make an look.
Yr so far, BYD holds some 30% of the entire market, adopted by Volvo (17%) and BMW (13%). Renault, in fourth place, is certain to progressively lose positions, as its success early within the yr was largely as a result of Renault Kwid E-Tech (Dacia Spring), a automobile that has fallen out of grace because the extra reasonably priced, higher geared up BYD Seagull has entered the market. In the meantime, Kia is bolting forward, and although it could not have the ability to snatch the bronze from BMW by the top of the yr, it managed to beat it in July and get onto the rostrum!
Kia’s “secret sauce” is the Kia EV5, a big SUV by Colombian requirements that gives a compelling worth, being extra reasonably priced than the PHEV BYD Music Plus, its most direct competitor. It’s necessary to notice that Kia proudly boasts its Kia EV5 is supplied with a BYD Blade Battery: by now, the connoisseurs within the nation appear to seek out BYD probably the most dependable model so far as batteries go, and its Blade Battery the non-plus-ultra, the usual different batteries have to be upheld to in the event that they want to be thought-about worthy. Actually, BYD has achieved an ideal job making itself a reputation on this small market … and in July, thanks the arrival of the BYD Yuan Up and the energy of the Seagull, it obtained practically half of Colombia’s EV marketplace for itself!
Some new names seem within the latter elements of the record, notably FAW — a Chinese language model that offered 18 taxis in July, however that in any other case has not been current out there. Renault, extremely dependent within the Kwid E-Tech, is now in fifth place and falling, whereas BMW maintains an honest place due to its aggressive EVs in its personal phase.
Mannequin-wise, July was dominated by the three “reasonably priced champions” talked about above, from least to dearer, adopted by the Kia EV5. BYD dominates, with 6 fashions within the prime 10; Volvo has an extra two; and Renault and Kia make up the remaining. Yr so far, nonetheless, the record is completely different and BYD solely manages to get 4 out of the highest 10 spots:
The truth that the Seagull is main this rating after solely being out there for 2 months is telling. Likewise, the BYD Yuan Up offered 121 items in July (its first month out there), that means it was solely lacking 3 items to make it into the yearly prime 10! These two automobiles are poised to dominate the Colombian EV market within the foreseeable future.
The silver goes to the Volvo EX30 (no surprises right here), which elevated gross sales in July, that means it might properly keep its place by way of the remainder of the yr. The bronze goes to the BYD Music Plus, the most well-liked PHEV within the nation, nevertheless it’s virtually a certainty this place will go to the BYD Yuan Up in a pair months at most.
Additional down we discover the BMW iX3 and the Chevrolet Bolt making an look within the eighth and ninth positions, respectively. The Bolt is on its approach out, however, being offered at $40,000, it makes an excellent omen for the upcoming Equinox EV (a greater automobile in all points) as long as they will promote it at an identical worth. As for the Renault Kwid E-Tech, it has been successful, however the Seagull has taken that phase for itself and now the Kwid lingers on the sidelines.
Last ideas
The EV transition is accelerating. Value parity is lastly right here, and years of preparation by these electrical manufacturers are paying dividends because the nation surpasses the 5% share mark. Development is quick and there’s momentum, so it would stay so for no less than a number of months.
And but, I can solely assume on what comes subsequent. The Seagull has arrived with a bang, but equally reasonably priced EVs for different automakers (JAC, Changan, JMC) are failing to achieve traction. The Yuan Up is a game-changer for certain, however it could possibly’t make a transition by itself. The place are the reasonably priced SUV-ish automobiles from different automakers? The place are the small BEV sedans?
On this sense, my hope stays that the present momentum lasts us till new arrivals convey a brand new wave of development. These new arrivals, within the quick time period, are largely targeted on the SUV phase and embody Chevrolet’s EV Armada (Equinox EV, Blazer EV, maybe Baojun Yep Plus), a few of the Zeekr champions, and Kia’s new EV lineup. And Tesla, in fact, which was speculated to arrive a number of months in the past however by no means did. I generally surprise if Elon fired the individuals in control of that.
It’s Kia that I’ve the best hopes for. This model made itself a reputation on this nation with the profitable Kia Picanto and maintains an excellent fame so far as sedans and SUVs go. The Kia EV3 — if offered at a worth close to the promised $30,000 for the 61kWh model — may very well be a sport changer with a far bigger impression than the Yuan Up, for its vary can be sufficient for the most typical inter-city journeys on this nation. It could even be aggressive even with Kia’s personal ICEV lineup and strengthen the EV presence in Colombia’s most offered phase. And in contrast to BYD, Kia already has model recognition and the boldness of the costumer.
Finally, infrastructure is lagging, however to date, this doesn’t appear to have an effect on gross sales. Nonetheless, it’s solely a matter of time till we begin seeing strains on the fast-charging stations (most of which have just one stand) or complaints in regards to the one stand being out-of-order, successfully leaving vacationers stranded. This needs to be mounted beforehand, however I doubt will probably be, and that might take momentum off the transition sooner or later within the close to future.
For now, although, the solar shines and the sky’s brilliant blue as Colombia’s EV transition gathers steam and gross sales bolt forward. With the US at some 8% BEV gross sales, and Canada at round 12%, I ponder if Colombia might surpass both by the top of the yr, fulfilling an omen I’ve been prophesizing for some time: that growing nations will transition quicker than developed ones.
It’s an extended shot, however the sport is simply beginning.
Have a tip for CleanTechnica? Need to promote? Need to recommend a visitor for our CleanTech Discuss podcast? Contact us here.
Newest CleanTechnica.TV Movies
CleanTechnica makes use of affiliate hyperlinks. See our coverage here.
CleanTechnica’s Comment Policy