Electric Car Sales in Brazil Hit Record in 2023

Electric car sales in Brazil reached a record high in 2023, with 93,927 registrations of electrified light vehicles throughout the year, as reported by the Brazilian Electric Vehicle Association (ABVE). This figure represents a 91% growth compared to the results of 2022.

1. The growth in electric car sales in Brazil is driven by several factors, including:

    • Increased awareness of the environmental benefits of electric vehicles. Electric vehicles do not emit pollutants, contributing to the reduction of air pollution and global warming.
    • Improvement in technology and reduction in the costs of electric vehicles. Electric vehicles are becoming more efficient and affordable, making them a more attractive option for consumers.
    • Government incentives. The Brazilian federal government offers various incentives for the purchase of electric vehicles, including exemption from IPI and ICMS.

In 2023, plug-in electric vehicles (PHEV and BEV) represented 56% of light electric vehicle sales in Brazil, totaling 52,359 units and surpassing conventional hybrids.

2. The best-selling electric car models in Brazil in 2023 were:

According to data from the Brazilian Electric Vehicle Association (ABVE), the best-selling electric car models in Brazil in 2023 were:

    • 1st place: BYD Dolphin (2,868 units)
    • 2nd place: Volvo XC40 (1,279 units)
    • 3rd place: BYD Yuan Plus (1,137 units)
    • 4th place: Volvo C40 (1,071 units)
    • 5th place: Chevrolet Bolt EV (1,036 units)
BYD Dolphin, the best-selling electric car in Brazil in 2023.

3. Development of Charging Infrastructure:

Investment in charging infrastructure is also a crucial factor to observe in the electric car market. According to the National Electric Energy Agency (ANEEL), there was a 30% increase in the number of charging stations across the country, facilitating the adoption of electric vehicles.

Electric car charging station.

4. Impact on the Tracking and Vehicle Protection Industry:

The increase in electric vehicle sales is creating new market opportunities for tracking and vehicle protection companies. For example, companies can offer battery monitoring and charging station location services. Additionally, they can provide services for the recovery of electric vehicles that have experienced battery failures.

Specific Data:

According to a Frost & Sullivan study, the global tracking and vehicle protection market for electric vehicles is expected to grow at a compound annual rate of 20% between 2023 and 2028. The study estimates the market to reach $20 billion by 2028.

The study also identified the following factors as key drivers of market growth:

  • Increase in electric vehicle sales
  • New technologies and consumer needs
  • New market opportunities

5. Tracking of Electric Vehicles by Softruck:

In response to this paradigm shift, Softruck already offers its technology for the monitoring and protection of electric vehicles.

“We are the first in Brazil to work with electric vehicle tracking! Currently, our technology is used by the company Vindrais, a brand that started in Montevideo, Uruguay, with two brothers using Softruck’s tracking technology on their electric bikes. In 2019, the brand expanded to Brazil, opening a store in Balneário Camboriú, SC.

Vindrais electric bicycles.

Conclusion:

The significant increase in electric car sales in 2023 reflects the ongoing transformation in the Brazilian automotive market. Softruck, committed to innovation and vehicle safety, is ready to accompany this evolution by offering customized solutions to meet the demands of electric car owners. Join us on this journey towards a more sustainable and secure future in the Brazilian automotive scenario.