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Chery’s EQ7, Ambacar’s Neta U, Kia’s EV5, BYD’s Seagull, and Ford’s new F150 hybrid pickup truck were some of the new technology vehicle models introduced to the Ecuadorian market during Autoshow 2024, which ended on Sunday, July 14, at the Guayaquil Convention Center. Other firms also showcased models already sold in Ecuador, such as Hyundai’s Ioniq 5 and Chevrolet’s Bolt EUV. Vehicles expected to enter the market soon, like the ID Buzz from Volkswagen, a 100% electric van, were also featured.
These new technology vehicles are increasingly seen as an alternative for local consumers, which is reflected in the companies’ interest in bringing them in. According to Expoplaza, the organizer of the Autoshow, of the approximately 100 models launched during the six days of the event, 25% were hybrid and electric.
This segment is not affected by the 18% drop in new vehicle sales in Ecuador in the first half of the year, according to figures from the Association of Automotive Companies of Ecuador (Aeade). From January to May, 5,304 hybrid vehicles were sold in Ecuador, 49.5% more than in the same period in 2023, and 768.1% more than in 2019 when only 611 were sold.
Electric vehicle sales grew by 74.5% from January to May, from 277 to 484 units sold. Compared to sales in 2019, when only 22 were sold, the increase is 2,000% for 100% electric cars (BEV). If EREV vehicles are added—also electric but with a small auxiliary combustion engine to recharge the battery—420 were sold in the first five months, leading to a segment growth of over 4,000% compared to 2019.
When will new technology vehicles replace fuel-powered vehicles?
Christian Cazar, Brand Manager of Chery Ecuador, says the advancement of these new alternatives is a global trend, driven by China, where 30% of vehicles sold are already electric. In Ecuador, Chery is expanding the charging network to be ready. He expects that within the next three to five years, these new energy models will account for 50% of the brand’s sales in Ecuador. To achieve this, significant infrastructure work is needed in Quito, Guayaquil, Cuenca, Ambato, and Loja.
Ecuador has tariff benefits that encourage these new technologies. Hybrid and electric cars are exempt from paying the excise tax (ICE) to make them cheaper and promote their purchase for environmental benefits. Hybrids do pay value-added tax, which increased from 12% to 15% on April 1, 2024, but hybrids up to 2,000 cc do not pay tariffs.
According to Daniel Yanez, Brand Manager of Orgu Ford, these advantages allow brands to bring better-equipped vehicles to the country. Ford focuses on migrating its portfolio to hybrids and electrics, with several models already having 100% electric versions, such as the Explorer, F150, and Mustang. The entire Ford portfolio is expected to be completely electric by 2032.
BYD, a brand specializing in hybrids and electrics, offers seven electric models and one hybrid in Ecuador. According to Paúl Núñez, regional commercial manager of BYD, the brand aims to reduce the planet’s temperature by 1 degree to protect the environment. BYD went from 0.01% to 1% of sales participation in the country within a year. He believes that eliminating fuel subsidies will boost sales of these new technologies.
Other brands, such as Peugeot, are also preparing to introduce their clean energy models. Alejandro Bastidas, Marketing Manager of Nexumcorp, representing Peugeot in Ecuador, said they are planning with Stellantis to enable the models for the country, considering factors like after-sales service and market penetration of electric vehicles.
Jaime Cucalón, president of the Ecuadorian Automotive Association (AEA), does not believe gasoline vehicles will disappear overnight. He acknowledged that electric cars are gaining strength, representing over 10% of cars sold in Ecuador, driven by people looking for less fuel-consuming cars.
Could the elimination of gasoline subsidies help lower the price of combustion vehicles?
Cucalón hopes that eliminating fuel subsidies will have a positive effect on the price of combustion vehicles. He stated that fuel subsidies have always been the government’s excuse to impose high taxes on vehicles. Without subsidies, there is no longer an excuse to equalize car prices in Ecuador with those in the rest of Latin America. He calls on the government to lower tariffs and the ICE to make cars more affordable and environmentally friendly.
As an early adopter of Toyota’s non-plug-in hybrids, I’m all for them. For 100% EV’s–yikes! While EV buses, motos and cars would be nice in the cities, I don’t see how adding to the load on our electric grid is a good course of action. Not until they get the shortage problem sorted and that appears a LONG way off.
Given the recent power outages and high price of imported energy, is anyone asking whether there will be enough renewable electricity to power the new EVs?? And, what is the advantage of driving an EV if the electricity is generated by fossil fuel power plants??
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Shanghai (Gasgoo)- Recently, BYD officially launched its new-generation mainstream commuter vehicle, the BYD SEAGULL, in Ecuador. The launch event was held in Guayaquil, the largest city in Ecuador.
The BYD SEAGULL adopts the "Ocean Aesthetics" design concept and is built on the e-Platform 3.0. This model boasts a range of 400 kilometers, meeting the needs of daily urban commuting and providing consumers with an eco-friendly and efficient travel option. It features a safety body structure exclusive to battery electric vehicles and is equipped with a Blade Battery, along with six airbags. In terms of intelligent features, the vehicle includes a 10.1-inch adaptive rotating floating pad and an intelligent network system, ensuring users enjoy a fun and smart driving experience.
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