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Friday, May 09, 2025

Electric Vehicles Market in Costa Rica Showcases Significant Growth at Expomóvil 2025

Electric Vehicles Market in Costa Rica Showcases Significant Growth at Expomóvil 2025

Costa Rica's electric vehicle registrations projected to exceed 35,000 by end of 2025, highlighting rapid market expansion.
By the end of 2025, Costa Rica is expected to surpass 35,000 registered electric vehicles (EVs), representing a 56.6% increase from the previous year, according to projections from the Costa Rican Electric Mobility Association (Asomove).

Currently, the country has 22,732 registered electric vehicles.

Silvia Rojas, the director of Asomove, noted that the electric vehicle market will be a key focus at Expomóvil 2025, featuring a diverse range of electric cars, motorcycles, pick-ups, and trucks.

The Expomóvil event hosts more than 70 brands showcasing a wide variety of vehicles.

A comprehensive price survey conducted by local media includes nearly 60 electric vehicle models offered by participating dealerships.

Roberto Sánchez, the marketing manager for Grupo Cori Motors, which distributes Chinese brands BYD, Kaiyi, Baic, and Foton, highlighted that BYD, a manufacturer exclusively of electric vehicles, ranks third in global sales, behind Toyota and Volkswagen.

At the event, BYD launched its Shark model, priced at $69,990, while the most affordable model is priced at $19,990.

Sánchez emphasized that BYD's commitment to electric vehicles enables the company to dominate the market with innovative renewable technology.

Electric vehicles now account for approximately 23% of Costa Rica’s vehicle fleet, according to Sánchez.

He pointed out that two years ago, there were very few electric vehicles available, but now nearly every brand has introduced an electric line.

He referred to this year's event as the 'Expomóvil Eléctrica' due to the rapid evolution of the market.

Sánchez provided details on the longevity of BYD's batteries, stating they can achieve a lifespan of 1.2 million kilometers across 5,000 charging cycles, which translates to roughly 70 years of use with bi-weekly charging.

Quick charging takes between 30 to 50 minutes, while standard charging requires 4 to 6 hours.

Grupo Q introduced three new brands at Expomóvil 2025: Arcfox and Ora, both offering 100% electric vehicles, and Tank, which focuses on combustion engines.

Rodolfo Araya, the commercial director of Grupo Q, noted the exponential growth of electric mobility and the need for a broader range of vehicles to attract diverse customer profiles.

Market expectations are optimistic.

Sebastián Richard, the commercial manager of AutoStar, which distributes brands such as Mercedes-Benz and Jeep, confirmed a rise in reservations for electric vehicles, encouraged by public interest and the differentiation in pricing and vehicle autonomy.

Richard anticipates that electric vehicles could represent 35% of total sales at Expomóvil, a significant increase from the current average of 15% in the overall market.

Gabriel Vargas, brand manager for Andes Motor, which markets Neta and Maxus vehicles, expressed confidence in growing demand and indicated a strategic repositioning of brands, focusing on compact vehicles with improved range and an SUV model launch.

He emphasized the importance of guiding consumers towards efficiency as Costa Rica progresses towards electric mobility.

Silvia Rojas advised potential electric vehicle buyers to inquire about battery cooling systems, favoring liquid systems over ventilation.

She recommended checking the warranty period, which typically ranges from six to eight years, as well as ensuring that dealerships have specialized maintenance staff and sufficient spare parts inventory.

Rojas also highlighted the importance of understanding the real driving range of vehicles in Costa Rica's varied topography.

The complete exemption from the selective consumption tax (ISC) for electric vehicle purchases ends in June, transitioning to a 75% exemption.

This timeframe presents an advantageous opportunity for acquiring an electric vehicle.
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