- In 2024, the company sold 109 NEV models in Latin America, establishing itself as a key player in the transformation of the automotive sector.
On World Energy Day, Inchcape reaffirms its commitment to sustainable mobility and the growth of New Energy Vehicles (NEVs) in the region. In 2024, the company achieved a 17% market share in the NEV segment in the countries where it operates in Latin America, with the sale of 109 models from the various automotive brands it distributes.
Since 2022, the NEV offering in Inchcape’s portfolio has grown from 59 vehicle versions to 278 in 2024, quadrupling its availability. This increase has been driven by a strategy focused on innovation and accessibility.
As a result, the company has consolidated a strong presence in the NEV segment across several markets, achieving notable market shares: 76% in Bolivia, 44% in Chile, 27% in Peru, 18% in the Caribbean, 16% in Colombia, 11% in El Salvador, 10% in Panama, 6% in Guatemala and Ecuador, and 2% in Uruguay.
«Mobility requires energy, and it is essential that its use becomes increasingly efficient and generates fewer emissions. The path to zero emissions in transportation requires, among other things, a transition and the availability of various technologies in vehicles that meet users’ needs. To achieve this, it is important to promote the adoption of new energy vehicles, including hybrids and electric vehicles,» emphasized José Miguel Silva, Regional Director of New Energy Vehicles at Inchcape Americas.
In recent years, the mainstream segment has led the growth of NEVs, surpassing the premium category in 2024. «Initially, electrified vehicles were priced at very high, unaffordable levels. Today, their availability is expanding, from microhybrids to 100% electric vehicles in more mass-market segments, making them more accessible to a wider audience,» José Miguel stated.
Inchcape identifies key factors in the transition to zero-emission mobility, including the development of electric charging infrastructure and the presence of public policy incentives that support the adoption of less polluting technologies. These factors are essential for offsetting the higher costs of new technologies, accelerating their adoption, and increasing consumer preference.
«We want to be a key player in global sustainable mobility, particularly in Latin America. Not only through the sale of units from the various brands we distribute but also by educating consumers about the benefits of these new options. Our goal is to offer vehicles with technologies that produce lower emissions and meet the diverse needs of our customers in each country. We are already leading the NEV market in several countries, and without a doubt, we will continue to grow,» José Miguel concluded.
With a strategy centered on innovation, education, and accessibility, Inchcape Americas continues to lead the transition toward cleaner mobility in Latin America, reaffirming its commitment to a sustainable future.
Attachment: Specifications of Inchcape Americas’ NEV Registrations
- Market data corresponds to light and medium vehicles, excluding trucks and buses.
- Market Share Source: Registrations from all markets, except Costa Rica (nationalisations). Excludes Argentina and Honduras. Figures are for 2024, except for the Caribbean (YTD Oct 2024).
- Models sold by Inchcape: Data as of January 2025, based on the Rundown S&OP Automotive database.