How does EV adoption vary throughout the Americas?
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By Daniel Bland – March 20, 2024 (Fleet Mobility Today Newsletter No. 21)
Twitter @DanielBlandBiz
Hello Fleet & Mobility Players,
The Western United States still leads in terms of electric vehicle (EV) adoption throughout all the Americas despite many buyers in the country still not keen to jumping on the EV bandwagon.?
Considering the number of EV registrations per overall population coming into 2023, California takes the top spot by far with one EV per 43 people, based on data Fleet Mobility Today compiled from the US Department of Energy.
The golden state, where 25% of every new car bought was an EV, is followed by Hawaii which reported one EV per 73 people, Washington (one per 75), Oregon (one per 90), and Nevada (one per 96). In terms of total registrations, 903,620 units were sold in California, 19,760 (Hawaii), 104,050 (Washington), 46,980 (Oregon), and 32,950 (Nevada).
Adoption rates are influenced by EV charging infrastructure of which California and Washington are among the leaders in the country. ??Keep an eye on Florida, New York, and Texas, however, which are also preparing for robust EV charging infrastructure networks. ?
Top five EV adopting states in the US
On the opposite side of the spectrum, one EV registration per 1,220 people was reported in North Dakota and Mississippi, followed by one to 952 in West Virginia, one to 781 in Louisiana, and one to 775 in South Dakota.
In North Dakota, only 640 EVs in all were sold, and this is significantly due to it being a spread-out state with a low population density and a state that faces quite a few cold winter days. Long distance driving and cold weather are not the best for EVs.?
Mississippi reports some of the lowest average salaries in the country so this makes it more difficult to acquire EVs which still have purchases prices which are higher than your average car.
As for the United States as a whole, nearly 8% of new vehicle registrations in 2023 were EVs, being nearly 1.2 million of the 15.6mn light vehicles sold. This equates to one EV per 352 people. ?
Regarding the overall fleet, of the 267 million light vehicles in the country, more than 32 million EVs (mainly hybrids) are on US roads, according to IHIS Markit, or to say 12% of the national fleet.
For would-be EV buyers, tax credits up to $7,500 are available for eligible new EVs and up to $4,000 for eligible used EVs. You can claim the credit yourself or work with your vehicle provider to make sure you meet all requirements.
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Keep in mind that the EV adoption in Canada is on par with the United States, but total numbers are significantly lower owing to the much smaller population.
Latin America
When it comes to the rest of the Americas, Latin America is registering new EVs at just under half the pace of the United States and Canada. While new EV registrations up north are seen representing approximately 10% of sales this year (2024), they represent approximately 4% of new sales in Latin America, according to regional data compiled by Fleet Mobility Today.
Seen leading the region is Costa Rica which is just under the United States (9% of new sales), followed by Uruguay (6%), and then Colombia, Brazil and Mexico at 5%. The rest of the countries could reach 2% of new vehicle sales.
Top five EV adoption countries in the Americas
Keep in mind that new lower price offerings – especially from Chinese automakers – are changing the name of the game in the two largest markets Brazil and Mexico. The largest player, 比亚迪 , is even considering the construction of a factory in Mexico so that it can ship some of its new models into the United States.?
Meanwhile, other players such as Tesla and the legacy automakers are preparing their strategies with multi-billion-dollar investment plans throughout the region. Let’s see how things pan out in the coming years.
If you have any suggestions, comments, or ideas, feel free to leave us a message in the chat below or send me a private message.
Thank You, Gracias, Obrigado!
Daniel Bland, Fleet Mobility Today
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FAVR Vehicle Program Consultant at Cardata ??
7 个月The transition to EV’s is not straightforward, especially taking into account geographical factors that can affect their adoption, such as more remote areas where range is an issue. It will also be interesting to see how vehicle reimbursement is navigated with the rise of EV’s for companies who employ a mileage reimbursement model as an alternative to fleet!
Absolutely thrilling to see the #west leading the #EV charge! ???? It makes one think of Henry Ford's wisdom - moving forward in harmony of purpose. Let's continue to spread this energy across the #Americas! #Innovation #FleetMobilityToday