The supply, demand and purchase intention for the hybrid cars (combustion engine and electric) has been growing at a good pace in Uruguay, accompanying a phenomenon that has been occurring in several Latin American countries. According to a study carried out by the Mercado Libre platform, in the period from January to October, demand in Uruguay had a notable growth of 62%, the purchase intention of 50%, while the supply increased 33% compared to the same period in 2020.
The behavior of Uruguayans is similar to that of other Latin American markets: in Mexico the figures were: 53% increase in demand, 43% purchase intention and 17% for supply, in Argentina demand grew 64%, 31% the offer and 15% the offer, and it stands out Colombia with growths greater than 100% in all variables. The only country analyzed where there was a drop in both supply and demand was in Brazil, probably associated with the energy crisis that country is currently experiencing, according to the report.
The growth of interest in hybrid cars stands out within the general category of cars and truckss: while so far this year, the demand to purchase intention of that category fell 2.5% and 12% respectively (compared to the same period last year), the hybrid section specifically grew 62% in demand and 54% in purchase intention. Even in April of this year there was a year-on-year increase of 193% in visits and 207% in contacts to hybrid vehicle ads.
The most wanted and how much they cost
In uruguay, The most sought after hybrid cars are the Suzuki Swift, followed not so far by the Toyota Corolla, Toyota Prius and Rav 4. Toyota’s hybrid models are the most popular in the countries analyzed. Both in Argentina, as in Brazil, Colombia and Mexico, a model of the Japanese brand is among the most sought after in the category, according to Mercado Libre.
Regarding the purchase intention (understood as the number of times a user presses the “contact” button of a publication on the site) the order of preferences changes, but the models remain: the Prius is in first place, followed by the Corolla and the Swift completes the podium. The rest of the top 5 is taken up by two other Toyota models.
The offer in as much partially accompanies the demand, and especially the purchase intention. Since among the five models with the greatest offer are the three most sought after and contacted Toyota models, but the Hyundai Ioniq sneaks in fourth.
“The hybrid and electric car market is starting to gain momentum in Uruguay. Supported by a greater environmental awareness on the part of consumers and also thanks to its good performances, we are seeing more and more participation of this segment in both supply and demand. 100% of the brands that import hybrid and electric vehicles are in Mercado Libre, so we have the most complete offer in the segment ”, said Jonathan Szwarcman, manager of Marketplace Vehicles at Mercado Libre Uruguay.
The price range to access these vehicles also expanded. The arrival of new models, as well as the appearance of a used supply in this segment, made it more accessible to access a hybrid.
For example: for 0 km vehicles, the mThe most economical model is the Swift GL Hybrid, model 2021 with an entry price of US $ 20,990, then the scale goes up with values of up to US $ 65,000 for the most demanded models such as the Toyota Rav4 LIMITED 4X4 2021 0 km and even higher for high-end cars that use this technology. As for the used ones, within the most sought after models, you can find, for example, a Toyota Prius 1.8 Hybrid with 2 years of use for $ 16,500.
Two weeks ago, The Uruguayan government published a decree lowering Imesi rates for hybrid vehicles according to their category and cylinder capacity, “so it is to be expected that the prices of this segment will fall in the future, making them more accessible” for consumers, according to Mercado Libre.
From June 2022 the current general rate of Imesi of 3.45% will be divided into bands. Plug-in hybrids will pay 2% up to 2,000 cc of displacement and 34.5% for more than 2,500 cc. Non-plug-in hybrids will pay 3.45% up to 2000cc displacements, 23% between 2,000 and 2,500cc, and 34.5% above 2,500cc. While the mild hybrid or mild hybrid will pay up to 7% up to 1,500 cc, 14% between 1,500 and 2,000 cc, and 34.5% above 2,000 cc.
