Latin America Used Car Market, Forecast to 2022

Latin America Used Car Market, Forecast to 2022

Used Car Market will Transform by 2022, with New Business Models, and Growing Peripheral Markets with Low Motorization Rate

RELEASE DATE
19-Jul-2017
REGION
Latin America
Research Code: K185-01-00-00-00
SKU: AU01512-LA-MR_20429
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Description

The used car market in Latin America is expected to undergo significant changes over the next 5–7 years. Upcoming technologies and business models are likely to completely transform the way used cars are bought and sold. In 2016, 18.4 million units were sold. Unit sales are expected to reach 22.4 million by 2022, growing at a CAGR of 3.4%, although this market varies from one country in the region to another, depending on factors such as domestic economy, market informality, regulations on emission standards, as well as used car sales legislation and customer protection. The market is experiencing a number of transformative shifts influenced by economic disruptions that affect new car sales, new regulations to formalize the used car market, new channel distribution, and technology innovations.

Research Scope

This research study focuses on used car sales segmented as follows:
•     Sales channels: Dealerships, individuals, online, and auction sales
•     Vehicle age
•     Powertrain: Gasoline, Diesel, Alternative fuels and Hybrids and Electric Vehicles
•     Market share by OEM and by most sold models
•     Ratio of new and used car sales
•     Value proposition by market participants

The market size for 2016 is provided for each segment and forecasted till 2022.

It also features the market shares of leading competitors, which include Volkswagen, Fiat, Toyota, Ford, Nissan, GM, Hyundai, Honda, Toyota, and Renault.

The study highlights industry challenges and growth drivers and restraints for the period 2016–2022, and analyzes the market from an end-user and geographic perspective. The research covers selected Latin American countries: Argentina, Brazil, Chile, Mexico, Colombia, and Peru. The study also presents key market trends, growth opportunities, OEM strategies to compete with independent dealerships, new business models being implemented, and macroeconomic implications for the market. It offers an analysis of current and future market trends affecting the region, including: new sales channels, new powertrain options, financing strategies and CPO programs offered by OEMs and independent and franchised dealerships, as well as market disruptors and companies to watch in the future. Finally the study provides conclusions, growth opportunities, and strategic recommendations.

Key Questions This Study Will Answer

•     What are the key trends and factors determining the demand for used cars in Latin America?
•     Could electric vehicles and hybrids become popular by 2022 as a mainstream alternative to gasoline vehicles?
•     How are automotive manufacturers promoting their used car business? How is the convergence with online used car aggregators promoting the used car business?
•     What are the key drivers and restraints within the used car market?
•     What is the growth potential of the market? How will the demand for used cars shape up until 2022?

Why Partner with Frost & Sullivan?

•     Robust and proven research methodology resulting in high-quality findings: Frost & Sullivan has established relationships with leading participants in the automotive and intelligent mobility industries with which it performs primary research for its research services.
•     Long experience researching and tracking automotive and mobility markets, generating reliable information. Frost & Sullivan has published studies year on year on this industry for 15+ years and employs analysts with previous experience in the industry, generating data you can trust.

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Key Findings

Market Engineering Measurements

Used Car and New Car Sales

Used Car Market Dynamics

New and Used Car Value Proposition Analysis

Growth of Used Car Sales

Sales Forecast by Distribution Channel and Vehicle Age

Select OEM Certified Pre-Owned (CPO) Vehicle Program and Used Car Activities

Used Car Market by Top OEM Participation

Frost & Sullivan GI Quadrant—Disruptors and Companies to Watch

Used Car Sales Regional Analysis

Key Factors Influencing Used Car Purchase Decisions

Key Findings and Future Outlook

Research Scope

Research Aims and Objectives

Research Methodology

Research Background

Definitions

Macroeconomic Trends and Influences

Used Car Market Pricing Trends

Legislation Effects on the Used Car Market

Value Chain—Used Car Market

Distribution Channels of Used Cars

Comparative Benchmarking by Distribution Channel

Distribution Channel Benchmarking Parameters

Used Car eRetailing Trends

Comparing Online Business Models

Used Car Sales—100% Online Transaction

Online Disruptor—KAVAK

Semi-new Cars from Rental Companies—Localiza

Auction House—Superbid

Market Drivers

Market Restraints

Market Engineering Measurements

Unit Sales Forecast by Fuel Type

Used Car Market—Market Share by Age

Volkswagen Brazil’s Certified Pre-Owned Vehicle Program and Used Car eCommerce

Toyota Brazil’s Ciclo Toyota Financing Program and Used Car eCommerce

Citroën Brazil’s Confiance Program

Nissan Mexico’s Seminuevos Garantizados Program and Used Car eCommerce

Chevrolet Mexico’s Auto Confianza Program and Used Car eCommerce

Sales Forecast by Distribution Channel and Vehicle Age

Growth of Used Car Sales in Latin America

Used Car Market by Top OEM Participation

Used Car Market by Top Car Model Participation

Growth Opportunity—eCommerce

Growth Opportunity—Improved Customer Service and Offerings

Growth Opportunity—Disruptive Business Models

Top 5 Growth Opportunities

Strategic Imperatives for Success and Growth

Key Conclusions and 2017 Outlook

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

Abbreviations and Acronyms Used

Others OEM List

List of Figures
  • 1. Used Car Market: Value Proposition, LATAM, 2016
  • 2. Used Car Market: Select OEM Used Car Activities, LATAM, 2016
  • 3. Used Car Market: Key Findings, LATAM, 2016 and 2022
  • 4. Used Car Market: Distribution Channel Benchmarking, LATAM, 2016
  • 5. Used Car Market: 100% Online Sale, LATAM, 2016
  • 6. Total Used Car Market: Key Market Drivers, LATAM, 2017–2022
  • 7. Total Used Car Market: Key Market Restraints, LATAM, 2017–2022
  • 8. Total Used Car Market: Market Engineering Measurements, LATAM, 2016
  • 9. Used Car Market: Total Used Car Sales by Fuel Analysis, LATAM, 2016–2022
List of Charts
  • 1. Used Car Market: Snapshot, LATAM, 2016
  • 2. Total Used Car Market: Market Engineering Measurements, LATAM, 2016
  • 3. Used Car Market: Used and New Car Sales Forecast, LATAM, 2012–2022
  • 4. Used Car Market: Market Trends, LATAM, 2016
  • 5. Used Car Market: Sales by Fuel Type and Sales Channel, LATAM, 2016 and 2022
  • 6. Used Car Market: Sales by Country and Vehicle Age, LATAM, 2016 and 2022
  • 7. Used Car Market: Market Share by OEM, LATAM, 2016 and 2022
  • 8. Used Car Market: Growth Impact (GI) Quadrant, LATAM, 2016
  • 9. Used Car Market: Sales in Units and New and Used Ratio, LATAM, 2022
  • 10. Used Car Market: Key Factors Influencing Used Car Purchasing Decisions, LATAM, 2016
  • 11. Macroeconomic Trends, LATAM, 2016
  • 12. Used Car Market: Used Car Trends, LATAM, 2016
  • 13. Used Car Market: Value Chain, LATAM, 2016
  • 14. Used Car Market: Distribution Channels, LATAM, 2016
  • 15. Used Car Market: eRetailing Trends, LATAM, 2016
  • 16. Used Car Market: Online Business Models, LATAM, 2016
  • 17. Used Car Market: Online Customer Journey, LATAM, 2016
  • 18. GDP Growth and Motorization Rate, LATAM, 2016
  • 19. Total Used Car Market: Used Car Sales, LATAM, 2015–2022
  • 20. Used Car Market: Market Share by Vehicle Age, LATAM, 2016, 2017, and 2022
  • 21. Used Car Market: Customer Journey: Volkswagen Brazil Used Car eCommerce, Brazil, 2016
  • 22. Used Car Market: eCommerce Customer Journey: Toyota, Brazil, 2016
  • 23. Used Car Market: Sales by Year and Vehicle Age, Brazil, 2016 and 2022
  • 24. Used Car Market: Sales Forecast, Brazil, 2015–2022
  • 25. Used Car Market: Sales by Fuel Type and Sales Channel, Brazil, 2016 and 2022
  • 26. Used Car Market: Market Share by OEM, Brazil, 2016 and 2022
  • 27. Used Car Market: Market Share by Model, Brazil, 2016
  • 28. Used Car Market: Sales by Year and Vehicle Age, Argentina, 2015 and 2022
  • 29. Used Car Market: Sales Forecast, Argentina, 2015–2022
  • 30. Used Car Market: Sales by Fuel Type and Sales Channel, Argentina, 2016 and 2022
  • 31. Used Car Market: Market Share by OEM, Argentina, 2016 and 2022
  • 32. Used Car Market: Share by Model, Argentina, 2016
  • 33. Used Car Market: Sales by Year and Vehicle Age, Chile, 2016 and 2022
  • 34. Used Car Market: Sales Forecast, Chile, 2015–2022
  • 35. Used Car Market: Sales by Fuel Type and Sales Channel, Chile, 2016 and 2022
  • 36. Used Car Market: Market Share by OEM, Chile, 2016 and 2022
  • 37. Used Car Market: Market Share by Model, Chile, 2016
  • 38. Used Car Market: Sales by Year and Vehicle Age, Colombia, 2016 and 2022
  • 39. Used Car Market: Sales Forecast, Colombia, 2015–2022
  • 40. Used Car Market: Sales by Fuel Type and Sales Channel, Colombia, 2016 and 2022
  • 41. Used Car Market: Market Share by OEM, Colombia, 2016 and 2022
  • 42. Used Car Market: Market Share by Model, Colombia, 2016
  • 43. Used Car Market: Sales by Year and Vehicle Age, Mexico, 2016 and 2022
  • 44. Used Car Market: Sales Forecast, Mexico, 2015–2022
  • 45. Used Car Market: Sales by Fuel Type and Sales Channel, Mexico, 2016 and 2022
  • 46. Used Car Market: Market Share by OEM, Mexico, 2016 and 2022
  • 47. Used Car Market: Market Share by Model, Mexico, 2016
  • 48. Used Car Market: Sales by Year and Vehicle Age, Peru, 2016 and 2022
  • 49. Used Car Market: Sales Forecast, Peru, 2015–2022
  • 50. Used Car Market: Sales by Fuel Type and Sales Channel, Peru, 2016 and 2022
  • 51. Used Car Market: Market Share by OEM, Peru, 2016 and 2022
  • 52. Used Car Market: Market Share by Model, Peru, 2016
Related Research
The used car market in Latin America is expected to undergo significant changes over the next 5–7 years. Upcoming technologies and business models are likely to completely transform the way used cars are bought and sold. In 2016, 18.4 million units were sold. Unit sales are expected to reach 22.4 million by 2022, growing at a CAGR of 3.4%, although this market varies from one country in the region to another, depending on factors such as domestic economy, market informality, regulations on emission standards, as well as used car sales legislation and customer protection. The market is experiencing a number of transformative shifts influenced by economic disruptions that affect new car sales, new regulations to formalize the used car market, new channel distribution, and technology innovations. Research Scope This research study focuses on used car sales segmented as follows: • Sales channels: Dealerships, individuals, online, and auction sales • Vehicle age • Powertrain: Gasoline, Diesel, Alternative fuels and Hybrids and Electric Vehicles • Market share by OEM and by most sold models • Ratio of new and used car sales • Value proposition by market participants The market size for 2016 is provided for each segment and forecasted till 2022. It also features the market shares of leading competitors, which include Volkswagen, Fiat, Toyota, Ford, Nissan, GM, Hyundai, Honda, Toyota, and Renault. The study highlights industry challenges and growth drivers and restraints for the period 2016–2022, and analyzes the market from an end-user and geographic perspective. The research covers selected Latin American countries: Argentina, Brazil, Chile, Mexico, Colombia, and Peru. The study also presents key market trends, growth opportunities, OEM strategies to compete with independent dealerships, new business models being implemented, and macroeconomic implications for the market. It offers an analysis of current and future market trends affecting the region, including: n
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Table of Contents | Executive Summary~ || Key Findings~ || Market Engineering Measurements~ || Used Car and New Car Sales~ || Used Car Market Dynamics~ || New and Used Car Value Proposition Analysis~ || Growth of Used Car Sales~ || Sales Forecast by Distribution Channel and Vehicle Age~ || Select OEM Certified Pre-Owned (CPO) Vehicle Program and Used Car Activities~ || Used Car Market by Top OEM Participation~ || Frost & Sullivan GI Quadrant—Disruptors and Companies to Watch~ || Used Car Sales Regional Analysis~ || Key Factors Influencing Used Car Purchase Decisions~ || Key Findings and Future Outlook~ | Research Scope, Objectives, and Methodology~ || Research Scope~ || Research Aims and Objectives~ || Research Methodology ~ || Research Background~ | Definitions~ || Definitions~ | Used Car Market Dynamics—Implication of Macroeconomics and Regulations~ || Macroeconomic Trends and Influences~ || Used Car Market Pricing Trends~ || Legislation Effects on the Used Car Market~ | Used Car Market Dynamics—Distribution Channel Analysis~ || Value Chain—Used Car Market~ || Distribution Channels of Used Cars~ || Comparative Benchmarking by Distribution Channel~ || Distribution Channel Benchmarking Parameters~ || Used Car eRetailing Trends~ || Comparing Online Business Models~ || Used Car Sales—100% Online Transaction~ || Online Disruptor—KAVAK~ || Semi-new Cars from Rental Companies—Localiza~ || Auction House—Superbid~ | Drivers and Restraints—Total Used Car Market~ || Market Drivers~ || Market Restraints~ | Forecasts and Trends—Total Used Car Market~ || Market Engineering Measurements~ || Unit Sales Forecast by Fuel Type~ || Used Car Market—Market Share by Age~ | Used Car Market—Select OEM Activities~ || Volkswagen Brazil’s Certified Pre-Owned Vehicle Program and Used Car eCommerce ~ || Toyota Brazil’s Ciclo Toyota Financing Program and Used Car eCommerce ~ || Citroën Brazil’s Confiance Program~ || Nissan Mexico’s Seminuevos Garantizados Program and Used Car eCommerce ~ || Chevrolet Mexico’s Auto Confianza Program and Used Car eCommerce ~ | Brazil Market~ || Sales Forecast by Distribution Channel and Vehicle Age~ || Growth of Used Car Sales in Latin America~ || Used Car Market by Top OEM Participation~ || Used Car Market by Top Car Model Participation~ | Argentina Market~ | Chile Market~ | Colombia Market~ | Mexico Market~ | Peru Market~ | Growth Opportunities in the LATAM Used Car Market~ || Growth Opportunity—eCommerce~ || Growth Opportunity—Improved Customer Service and Offerings~ || Growth Opportunity—Disruptive Business Models~ || Top 5 Growth Opportunities~ || Strategic Imperatives for Success and Growth ~ | Key Conclusions and Future Outlook~ || Key Conclusions and 2017 Outlook~ || The Last Word—3 Big Predictions~ || Legal Disclaimer~ | Appendix~ || Market Engineering Methodology~ || Abbreviations and Acronyms Used~ || Others OEM List~
List of Charts and Figures 1. Used Car Market: Value Proposition, LATAM, 2016~ 2. Used Car Market: Select OEM Used Car Activities, LATAM, 2016~ 3. Used Car Market: Key Findings, LATAM, 2016 and 2022~ 4. Used Car Market: Distribution Channel Benchmarking, LATAM, 2016~ 5. Used Car Market: 100% Online Sale, LATAM, 2016~ 6. Total Used Car Market: Key Market Drivers, LATAM, 2017–2022~ 7. Total Used Car Market: Key Market Restraints, LATAM, 2017–2022~ 8. Total Used Car Market: Market Engineering Measurements, LATAM, 2016~ 9. Used Car Market: Total Used Car Sales by Fuel Analysis, LATAM, 2016–2022~| 1. Used Car Market: Snapshot, LATAM, 2016~ 2. Total Used Car Market: Market Engineering Measurements, LATAM, 2016~ 3. Used Car Market: Used and New Car Sales Forecast, LATAM, 2012–2022~ 4. Used Car Market: Market Trends, LATAM, 2016~ 5. Used Car Market: Sales by Fuel Type and Sales Channel, LATAM, 2016 and 2022~ 6. Used Car Market: Sales by Country and Vehicle Age, LATAM, 2016 and 2022~ 7. Used Car Market: Market Share by OEM, LATAM, 2016 and 2022~ 8. Used Car Market: Growth Impact (GI) Quadrant, LATAM, 2016~ 9. Used Car Market: Sales in Units and New and Used Ratio, LATAM, 2022~ 10. Used Car Market: Key Factors Influencing Used Car Purchasing Decisions, LATAM, 2016~ 11. Macroeconomic Trends, LATAM, 2016~ 12. Used Car Market: Used Car Trends, LATAM, 2016~ 13. Used Car Market: Value Chain, LATAM, 2016~ 14. Used Car Market: Distribution Channels, LATAM, 2016~ 15. Used Car Market: eRetailing Trends, LATAM, 2016~ 16. Used Car Market: Online Business Models, LATAM, 2016~ 17. Used Car Market: Online Customer Journey, LATAM, 2016~ 18. GDP Growth and Motorization Rate, LATAM, 2016~ 19. Total Used Car Market: Used Car Sales, LATAM, 2015–2022~ 20. Used Car Market: Market Share by Vehicle Age, LATAM, 2016, 2017, and 2022~ 21. Used Car Market: Customer Journey: Volkswagen Brazil Used Car eCommerce, Brazil, 2016~ 22. Used Car Market: eCommerce Customer Journey: Toyota, Brazil, 2016~ 23. Used Car Market: Sales by Year and Vehicle Age, Brazil, 2016 and 2022~ 24. Used Car Market: Sales Forecast, Brazil, 2015–2022~ 25. Used Car Market: Sales by Fuel Type and Sales Channel, Brazil, 2016 and 2022~ 26. Used Car Market: Market Share by OEM, Brazil, 2016 and 2022~ 27. Used Car Market: Market Share by Model, Brazil, 2016 ~ 28. Used Car Market: Sales by Year and Vehicle Age, Argentina, 2015 and 2022~ 29. Used Car Market: Sales Forecast, Argentina, 2015–2022~ 30. Used Car Market: Sales by Fuel Type and Sales Channel, Argentina, 2016 and 2022~ 31. Used Car Market: Market Share by OEM, Argentina, 2016 and 2022~ 32. Used Car Market: Share by Model, Argentina, 2016 ~ 33. Used Car Market: Sales by Year and Vehicle Age, Chile, 2016 and 2022~ 34. Used Car Market: Sales Forecast, Chile, 2015–2022~ 35. Used Car Market: Sales by Fuel Type and Sales Channel, Chile, 2016 and 2022~ 36. Used Car Market: Market Share by OEM, Chile, 2016 and 2022~ 37. Used Car Market: Market Share by Model, Chile, 2016 ~ 38. Used Car Market: Sales by Year and Vehicle Age, Colombia, 2016 and 2022~ 39. Used Car Market: Sales Forecast, Colombia, 2015–2022~ 40. Used Car Market: Sales by Fuel Type and Sales Channel, Colombia, 2016 and 2022~ 41. Used Car Market: Market Share by OEM, Colombia, 2016 and 2022~ 42. Used Car Market: Market Share by Model, Colombia, 2016 ~ 43. Used Car Market: Sales by Year and Vehicle Age, Mexico, 2016 and 2022~ 44. Used Car Market: Sales Forecast, Mexico, 2015–2022~ 45. Used Car Market: Sales by Fuel Type and Sales Channel, Mexico, 2016 and 2022~ 46. Used Car Market: Market Share by OEM, Mexico, 2016 and 2022~ 47. Used Car Market: Market Share by Model, Mexico, 2016 ~ 48. Used Car Market: Sales by Year and Vehicle Age, Peru, 2016 and 2022~ 49. Used Car Market: Sales Forecast, Peru, 2015–2022~ 50. Used Car Market: Sales by Fuel Type and Sales Channel, Peru, 2016 and 2022~ 51. Used Car Market: Market Share by OEM, Peru, 2016 and 2022~ 52. Used Car Market: Market Share by Model, Peru, 2016 ~
Author Hernan Cavarra
Industries Automotive
WIP Number K185-01-00-00-00
Is Prebook No