Peru’s electric vehicle market continues to grow significantly. According to data provided by the Asociación Automotriz del Perú(AAP), sales of electric vehicles increased by 50 percent in the first quarter of the year, with the total number of unregistered vehicles reaching 1,433.
The dynamism of the electric vehicle market in Peru can be attributed to a large extent to the demand for hybrid vehicles,” said David, Marketing and Corporate Affairs Manager at Toyota Peru. Approximately 89% of the cars sold in Peru have this technology, 36% of which are hybrid electric vehicles (HEVs) and the rest are mild hybrids (Mild HEVs).”
The executive emphasized that electric hybrids are the most convenient option for consumers because they do not need to worry about charging, which is one of the main problems with the limited number of charging stations. Peru has 58 charging stations throughout the country, but only eight of them are fast charging stations. In addition, the price range of these vehicles is more affordable for consumers than other electrification technologies. For this reason, electric hybrids are the most suitable transition option in Peru.
In the first quarter of this year, more than 1,200 hybrid vehicles were sold, including 514 unregistered hybrids. This technology, which combines an internal combustion engine with an electric engine, helps reduce CO2 emissions by up to 40%, compared to 10% for mild hybrids.
In terms of the geographical distribution of sales, Lima concentrated nearly 83 percent of electric vehicle sales, followed by Arequipa and Trujillo with shares of 5.7 percent and 3.3 percent, respectively. He said, “Since last year, automotive brands have shown great interest in expanding their operations to more regions of Peru.”
Electric vehicle sales in 2023 will be 4,484 units, an increase of 67.3% over 2022 sales.
