Market Insights Mobility Electric Vehicles

Plug-in Hybrid Electric Vehicles - Argentina

Argentina

In Argentina, the revenue in the Plug-in Hybrid Electric Vehicles market is projected to reach US$2.9m in 2024.
The revenue is expected to exhibit an annual growth rate (CAGR 2024-2028) of 12.19%, leading to a projected market volume of US$4.6m by 2028.
It is anticipated that the unit sales in the Plug-in Hybrid Electric Vehicles market will reach 73.00vehicles in 2028.
The volume weighted average price of the Plug-in Hybrid Electric Vehicles market in 2024 is expected to amount to US$63.3k.
When considering the international perspective, it is evident that the highest revenue will be generated in China, with US$110,200m in 2024.
Argentina is experiencing a growing demand for Plug-in Hybrid Electric Vehicles due to the country's commitment to reducing carbon emissions and promoting sustainable transportation.

Key regions: China, United States, Norway, France, Germany

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Analyst Opinion

The Plug-in Hybrid Electric Vehicles market in Argentina has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for this growth is the increasing demand for more environmentally friendly transportation options. Customers in Argentina are becoming more conscious of the impact of traditional gasoline-powered vehicles on the environment and are looking for alternatives that can help reduce carbon emissions. Plug-in Hybrid Electric Vehicles offer a solution by combining the benefits of electric vehicles with the convenience of internal combustion engines.

Trends in the market: Another factor driving the growth of the Plug-in Hybrid Electric Vehicles market in Argentina is the government's push towards promoting sustainable transportation. The Argentine government has implemented various policies and incentives to encourage the adoption of electric and hybrid vehicles, including tax credits and subsidies. These measures have made Plug-in Hybrid Electric Vehicles more affordable and attractive to consumers, leading to an increase in sales.

Local special circumstances: Argentina also has a unique set of circumstances that make Plug-in Hybrid Electric Vehicles particularly appealing to consumers. The country has a large urban population, with many people living in major cities where air pollution is a significant concern. Plug-in Hybrid Electric Vehicles offer a cleaner and quieter alternative to traditional vehicles, making them a popular choice for city dwellers. Additionally, Argentina has a well-developed infrastructure for electric vehicle charging, which further supports the growth of the Plug-in Hybrid Electric Vehicles market.

Underlying macroeconomic factors: The growth of the Plug-in Hybrid Electric Vehicles market in Argentina is also influenced by macroeconomic factors. The country has been experiencing economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, more people are able to afford Plug-in Hybrid Electric Vehicles, contributing to the market's expansion. Additionally, the rising fuel prices in Argentina have made Plug-in Hybrid Electric Vehicles a cost-effective alternative for consumers, further driving demand. In conclusion, the Plug-in Hybrid Electric Vehicles market in Argentina is experiencing growth due to customer preferences for more environmentally friendly transportation options, government incentives and policies, local special circumstances, and favorable macroeconomic factors. As these factors continue to drive the market, it is expected that the Plug-in Hybrid Electric Vehicles market in Argentina will continue to expand in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).