[Economics] 87.5% more in sales in the first quarter of 2023 underpins diversification and preferences among 'electrified' vehicles in the local market

[#Steeven.™]

In Ecuador there are five types of electrified vehicles, the best sellers are plug-in hybrid electric vehicles that grew 336.8%

2022 was a record year for the automotive sector in Ecuador. 139,517 vehicles were sold, the highest value reported in the last 11 years -since 2011-. This figure represented a growth of 16.9% compared to the same period of the previous year, according to statistics from the Association of Automotive Companies of Ecuador (Aeade).

Within all the segments, electric cars were one of the ones with the best performance. 405 units were sold, which represented 16% more than those sold in 2021 (348 units). However, this growth was overshadowed by hybrid vehicles that closed 2022 with 6,800 units sold, 59% more than in 2021 when 4,280 were sold.

This trend was also reflected in sales for the first quarter of 2023. 2,361 hybrids and 149 electrics were sold.

In the case of electric cars, it represented a growth of 175.9% when comparing the figure with sales for the same period of 2022, which were 59 units. However, when it comes to hybrids, the statistics must now be broken down into four sub-segments and five if 100% electric cars are included in that equation that is classified as electrified vehicles. Aeade began to do so in February of this year.

These five subcategories are:

• MHEV: Mild Hybrid Electric Vehicle -mild hybrid electric vehicle-
• PHEV: Plug in Hybrid Electric Vehicle -plug-in hybrid electric vehicle-
• HEV: Hybrid Electric Vehicle -hybrid electric vehicle-
• BEV: Battery Electric Vehicle -battery electric vehicle-
• EREV: Extended Range Electric Vehicle -extended range electric vehicle-

This specification also began to be applied by the Chamber of the Ecuadorian Automotive Industry (Cinae). Its executive director, David Molina, explained that Ecuadorian regulations determine that an electric vehicle is one that is propelled solely with an electric motor, that is, with electric batteries; while hybrid vehicles share traction as they move through a combustion engine but also with electric batteries.

However, he indicated that there is a new technology that uses a fuel tank, but not to drive the vehicle's engine, which is electric, but its purpose is to charge the electric battery.

“With the current norm of Ecuador, these are electric vehicles, they qualify as electric vehicles and enjoy all the incentives that electric vehicles have; however, with a much more technical and comparative perspective with what happens in the laws of Europe and the rest of Latin America, these vehicles are not considered electric, but hybrids because they have a combustion engine," Molina clarified, who pointed out that for Not to distort the statistics, they consider these vehicles as hybrid and not electric, which are those that do not produce emissions and do not have an exhaust pipe.

The best-selling type of electrified vehicle in the first quarter of the year is the MHEV with 1,260 units, followed by the HEV (731), EREV (287), BEV (149) and PHEV (83) which was the one with the highest sales growth presented compared to the first three months of 2022 with 336.8% more.

In total, all electrified vehicles posted a sales increase of 87.5% in the first quarter.

For his part, Genaro Baldeón, executive president of Aeade, highlighted the preparation of a catalog of electrified vehicles that was drawn up with the companies that make up the Association. The list includes 106 models from 16 brands that are currently available on the market.

Of those 106 models, 29 are BEV, 3 are EREV, 12 are PHEV and 62 are from the other subcategories.

 

Brands project more hybrid and 100% electric models by 2023
The brands for their part plan to continue inserting more vehicles of this type into the Ecuadorian market.

For example, the Korean brand KIA that has in its catalog in Ecuador the hybrids K5, Stonic, Óptima, Niro; and the 100% electric Soul EV, EV6; plans to introduce two new eco-friendly models to the local market (100% electric hybrids), revealed José Antonio Errazuriz, commercial director of KIA Motors del Ecuador.

"Kia has been working on its sustainable mobility plan in recent years with a view to incorporating a total of 7 EVs -electric vehicles- into its global portfolio by 2025," said the executive, who noted that in 2022 they sold 2,552 electric vehicles and in the first quarter of this year they have sold 301 units.

Meanwhile, Corporación Maresa plans to bring a 100% electric Chery vehicle to the local market by the end of this year, revealed Nicolás Buñay, Maresa Product Manager.

The Chinese brand, which is distributed by Maresa in Ecuador, launched its Tiggo 8 Pro PHEV model at the Autoshow in August 2022, which to date has sold 31 units, according to Buñay, who indicated that the firm expects 2023 to be a record year for sales of hybrid vehicles projecting an estimate of more than 1,500 units in total, while projections for electric vehicles are expected to start with 1% of sales of the brand's total portfolio this year.

Currently, the only 100% electric vehicle that Maresa sells is the Dongfeng RICH 6 EV van, which in 2022 sold 36 units, while in the first quarter of this year they have already sold 27, said Paola Ramírez, Dongfeng's deputy brand manager.

Before the announcement of the brands to bring more electric models, Molina indicated that "it is possible, and it is natural, that the technology grows little by little", but he also analyzed that the preference of the clients for the hybrid vehicles before the 100% electric is due to the lack of infrastructure (electric stations), which does not allow you to have a vehicle that can move outside the city”.

 

https://www.eluniverso.com/noticias/economia/875-mas-en-ventas-en-el-primer-trimestre-del-2023-apuntala-la-diversificacion-y-preferencias-entre-los-vehiculos-electrificados-en-mercado-local-nota/