Passenger Vehicle Growth Perspectives in Latin America, Forecast to 2023

Passenger Vehicle Growth Perspectives in Latin America, Forecast to 2023

The Latin American (LATAM) passenger vehicle market has witnessed a major downturn in recent years (2014-2016), given generalized fall in GDP growth rates across key industries and major national economies, devaluation of local currencies against the US Dollar, drop in primary commodity prices, rising inflation rates, and loss of purchasing power parity. However, vehicle sales are expected to recover with the growth rates being driven by general economic stabilization along with new trends in the industry and a restructuring of the regional trade dynamics. The VIO is forecast to increase substantially reaching 122.5 million units in the coming years, with 7.2 million units being commercialized in 2023. Noteworthy of the figures presented in this study are the regional trends, where Brazil is gradually losing its undisputed dominant position as the main automotive market, caused by the rise of the Mexican market. On the other hand, the Argentinean automotive industry is strengthened by its specialization in specific segments (pick-up), commercialization and production.

This study focuses on the number of transformative shifts driven by social, political, economic, and technological disruptions impacting the LATAM regional automotive industry and markets. Specific vehicle segments are driving growth in VIO (such as pick-ups and new-generation SUVs), along with increasing competitiveness, pushed by technological disruptors and new business models. The regional landscape and performance of Argentina, Brazil, Chile, Colombia, Mexico and Peru are discussed, considering regional and local motorization rates and GDP growth forecasts, along with Frost & Sullivan's exclusive passenger vehicle sales and VIO forecasts and analysis from 2017 to 2023.

Research Scope
The aim of this study is to identify and analyze key trends driving the growth of the passenger vehicle market in LATAM, along with expansion or contraction of the VIO rate, for the period 2013-2023.
Detailed information is presented for segments, firstly on key transformative trends impacting vehicle sales and VIO expansion as a whole. Secondly, a thorough country-wise analysis is provided, including historic sales and VIO data and growth forecasts.

Key Issues Addressed
What is the current status of the Latin American passenger vehicle market and industry, and what was the trend shaping it in the past years?
What are the main regional trends in the market and what is its future sales forecast till 2023?
What are the key drivers and restraints in the Latin American passenger vehicle market?
What is the growth potential of the Latin American passenger vehicle market in relation to the regional car parc (vehicles in operation)?

  • Executive Summary
    • Executive Summary—Key Findings
    • Executive Summary—LATAM PV Sales Forecast 2023
    • Executive Summary—LATAM PV VIO Forecast 2023
    • Executive Summary—LATAM Motorization Rates
    • Executive Summary—Key Findings and Future Outlook
  • Research Scope, Objectives, Methodology and Definitions
    • Research Scope
    • Research Aims, Objectives and Key Questions
    • Research Methodology and Background
    • Definitions and Segmentation
  • Top Transformative Trends Impacting the Latin America VIO and Sales
    • Consumer Adoption of New Growing Vehicle Segment will Drive Sales
    • Connected Car will Influence Automotive Sales in LATAM
    • Used Car Market in LATAM
    • Flexible On-Demand Mobility Solution
    • VIO Will Benefit from New Entrants and Disruptive Aftermarket Models
    • E-Retailing to Change the Face of the Aftermarket
  • Argentina Passenger Vehicle Market Outlook to 2023
    • Argentina VIO Outlook to 2023
  • Brazil Passenger Vehicle Market Outlook to 2023
    • Brazil VIO Forecast
  • Chile Passenger Vehicle Market Outlook to 2023
    • Chile VIO Outlook to 2023
  • Colombia Passenger Vehicle Market Outlook to 2023
    • Colombia VIO Forecast
  • Mexico Passenger Vehicle Market Outlook to 2023
    • Mexico VIO Outlook to 2023
  • Peru Passenger Vehicle Market Outlook to 2023
    • Peru. VIO Forecast
  • Growth Opportunities and Strategic Imperatives
    • Growth Opportunity in LATAM
    • Strategic Imperatives for Success and Growth
  • Key Conclusions
    • Key Conclusions and Future Outlook
  • Appendix
    • Market Engineering Methodology

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