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Brazil EV Sales Report: 153% Growth in May Brings Latin America’s Largest Market to 13.5% EV Market Share!
For long a regional leader (ranking consistently in the fourth position in our region), Brazil has shown long periods of relative stagnation followed by sudden bursts of growth triggered by the entrance of new, more competitive models in…
AI Summary
Brazil's electric vehicle market has experienced significant growth, with sales increasing by 153% in May. This surge has pushed the country's electric vehicle market share to 13.5%. The growth is attributed to the introduction of new, more competitive models in the country. This trend of sudden bursts of growth, followed by periods of stagnation, has been observed in Brazil's electric vehicle market in the past. The development underscores Brazil's position as Latin America's largest electric vehicle market, a title it has consistently held.
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