Latin America closes the first quarter of 2026 with strong growth in EV sales. Ecuador, Colombia, Uruguay, and Argentina lead the growth.

The first quarter of 2026 ends withexcellent news for electric mobility in our region. With a solid annual growthof 74%, a record of more than 115,000 electric vehicles sold in the region wasreached, surpassing the previous record from the last quarter of 2024, andachieving a market share of 7.7% (4.32% BEV). This compares to 5.31% and 3.06%in the first quarter of 2025 and 2024, respectively.

Leading regional growth is Argentina, withapproximately 700% growth (a more precise calculation is difficult due tolimitations in 2025 data). As a result, Argentina reached a 1% market share forbattery electric vehicles (BEV), plus 1.7% for plug-in hybrid vehicles (PHEV).

Next, Ecuador recorded 244% growth duringthe quarter and reached a 6% BEV market share. Colombia, meanwhile, achieved187% growth, but starting from a higher base, reached a 12.6% BEV market share and2.2% PHEV market share.

However, Uruguay, with an impressive 166%growth from an already high base, consolidates itself as the sales leader inthe region, reaching a strong 28.6% BEV market share (plus 3% PHEV). Othermarkets with notable growth were Chile (+131%) and Brazil (+74%).

It is important to highlight that thesegrowth figures occur in a context prior to the visible impacts of the oilcrisis, due to the legal infrastructure that limits price variations in mostcountries in the region. For this reason, given the current disruptions in theoil market, there is significant growth potential for the second quarter due topossible increases in fuel costs.

For further details, we invite you to readthe following note: Latin America EV Sales Report, Q1 2026.