Mexico’s EV Market Grows 67% in 2024, Hybrids Top Sales

Mexico’s adoption of electrified vehicles reached 124,000 units in 2024, a 67% increase from 2023, though hybrids continue to dominate the market. Hybrid vehicles accounted for 74% of total electrified sales, while pure electric models represented 19.6% and plug-in hybrids 6.4%.

Structural challenges limit full electrification. Mexico lacks direct subsidies for EVs, maintains an underdeveloped charging network of 51,800 points, and operates under ambiguous regulations. “There was a major error in using the term ‘eco vehicle’ instead of defining ‘electric or plug-in hybrid,’” said Eugenio Grandio, president of the Asociación de Electro Movilidad en México (EMA), to Expansión. This ambiguity allows minimal electric systems, such as 48-volt mild hybrids, to qualify for incentives and green plates, reducing differentiation between vehicle types.

Regulations and tariffs also constrain adoption. Mexico plans a 50% import tariff on vehicles from countries without free trade agreements, including China, which could push entry-level EV prices above MX$500,000 (US$27,000). “Any measure that limits access to technologies by country of origin could raise costs and slow competitiveness,” EMA noted.

Automakers are responding by focusing on hybrids and plug-in hybrids. Toyota leads with 11 hybrid models, followed by Hyundai with four, reporting 25% year-on-year growth in sales of models such as Tucson, Santa Fe, and Elantra. Other manufacturers have introduced hybrid versions of Renault Koleos and Arkana, Ford Territory, Kia Sportage and Sorento, and Honda Accord and CR-V. Pure electric model launches have declined, with some Chinese brands pivoting toward plug-in hybrids.

Consequently, Mexico’s market is consolidating around hybrid technologies. While the share of pure electric vehicles fell from 19.6% in 2024 to 15.2% in 2025, total electrified vehicle sales grew 17%, driven mainly by hybrids. The country continues to lag in full electric adoption, constrained by tariffs, infrastructure, and regulatory clarity.

Guillermo Rosales, president, AMDA, noted that economic uncertainty, combined with the upcoming 2026 USMCA review, is keeping both investors and consumers cautious. “We expect 2026 to remain under complicated conditions, closer to stagnation,” he said. Despite these challenges, Rosales highlighted the sustained growth of the electrified vehicle segment, which continues to gain market share. He added that the transition to cleaner, technologically advanced mobility will define the future of the Mexican automotive industry, while legal certainty and economic stability remain essential to maintain investment momentum.