The Volvo EX30 Arrives In Latin America, Signaling The End Of The Beginning For ICEVs Available deliveries will start in Q1 2024
Despite some promising countries , Latin America remains a laggard in the transition to cleaner, greener transportation. Those of you who readmay remember that only four countries have surpassed 1% BEV market share, and some of them even remain below 0.1%.
For one, they’re bringing the full might of the Volvo brand, one that unlike BYD, JAC, Changan or Dongfeng, has ample recognition and compels significant prestige in the region. Sure, the car is made in China. Who cares? People who I’ve spoken to certainly don’t: they trust Volvo. when the price of EVs fell nearly 15% in a whim after its arrival. BYD in particular has enjoyed a near complete reign in the small SUV segment, and the BYD Atto 3/BYD Yuan Plus comes to mind as a vehicle that may require a significant discount if it wishes to remain competitive. A price comparison among the largest Latin American vehicle markets feels usefulAll prices are in USD for the 51 kWh LFP EX30, and for the 60 kWh Atto 3.
I expect for the arrival of the EX30 to cause a cascade of discounts in Chinese EV models that will slowly trickle down to cheaper segments . I expect the car to be a success, and to take the regional market by storm, causing an upheaval that will see doubled or tripled EV market share once the dust settles. I also expect that this will be the start of a new trend: more and more mainstream automakers will start building their EVs in China to maintain market share in developing markets.
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