South Africa Electric Cars Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

South Africa Electric Cars Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The South Africa Electric Cars Market is projected to register a CAGR of 8.50%

Key Highlights

• Largest Segment by Fuel Type - BEV : Sales of hybrid vehicles are anticipated to outpace those of all-electric vehicles in South Africa as a result of rising CO2 emissions and taxation. These vehicles do not require EV charging infrastructure. These automobiles are also appropriate for use in nations with inadequate charging infrastructure. As a result, higher adoption rates are anticipated for the segment in the coming years.
• Fastest-growing Segment by Fuel Type - HEV : BEV is the fastest-growing segment with a 16.2% CAGR due to aggressive electric policy, fixed purchase subsidies, and extremely low-interest loans supported by development finance institutions. BEV is the largest growing segment in the South African electric car market, with sales of around 203 vehicles in 2021.
• Largest Segment By Body Type - Hatchback : SUVs are common types of vehicles that provide stability and comfort for drivers and passengers when navigating South Africa's less-than-ideal roads and a wide range of climates, terrains, and territories.

Competitive Landscape

The South Africa Electric Cars Market is fairly consolidated, with the top five companies occupying 92.30%. The major players in this market are General Motors, Hyundai Motor Company, Renault, Toyota Motor Co. and Volkswagen AG (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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