LATAM Automotive Growth Outlook 2023

LATAM Automotive Growth Outlook 2023

Future Growth Potential of the Automotive Industry in 2023 after Recovery During 2022

RELEASE DATE
26-Apr-2023
REGION
Latin America
Research Code: PE94-01-00-00-00
SKU: AU02513-LA-MO_27565
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SKU
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Description

The Latin American automotive industry continues to grow, despite COVID-19, scarcity of resources and auto parts, the Russo-Ukrainian War, inflation, and exchange rates affecting vehicles’ availability and prices.

With 4.4 million units sold and a slow recovery from the pandemic, Latin American automotive expanded by 2.7% in 2022. Ecuador showed the most growth in the region, selling 16.8% more units than in 2021, going from almost 109,000 to more than 127,000 units. Meanwhile, Brazil, the largest sector, showed negative 0.1% growth, although it is expected to have positive growth in 2023.

This study covers trends including powertrain diversification, a rise in the number of SUVs, the penetration of Chinese OEMs, modifications in purchase processes, and local production of hybrid and electric vehicles. Toyota remains the key company in the region and the electrified vehicle (xEV) sector.

The industry is expected to grow by 2.4% in 2023. Estimates show that Ecuador will continue experiencing the maximum growth in the region, with a projected growth of 12.5%, reaching more than 143,000 units. Argentina and Brazil follow, with estimated growth of 4.5% and 5.2%, respectively.

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Automotive Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Findings: A Recap of 2022

Key Findings: Top 5 Predictions for 2023

Notable Regulations and Mandates: A Snapshot

Automotive Market by Country

Top 5 Global Economic Highlights of 2022

Top 5 Global Economic Highlights of 2023

Global GDP Growth Expectations

Recessionary/Slowdown Expectations for Major Economies

Global GDP Growth Snapshot

Advanced Economy Predictions for 2023

Emerging Market Economy Predictions for 2023

2023 Regional Risks and Policy Direction

2023 Top Growth Opportunities by Region

Research Scope

Market Segmentation

Top Trends Driving the Latin American Automotive Industry

Trend 1: Powertrain Diversification

Trend 2: Chinese OEMs

Trend 3: Rise of SUVs

Trend 4: Changes in the Purchase Process

Trend 5: Local Production of Hybrid and Electric Vehicles

Service and Tech Roadmap

CASE Demand Matrix by Country

Automotive Sales by Country

Pricing Analysis

Segment Forecast

2022 Country Analysis: Argentina

2022 Country Analysis: Brazil

2022 Country Analysis: Chile

2022 Country Analysis: Colombia

2022 Country Analysis: Ecuador

2022 Country Analysis: Mexico

2022 Country Analysis: Peru

2022 Country Analysis: Uruguay

Growth Opportunity 1: Increased Offer of Electric Vehicles

Growth Opportunity 1: Increased Offer of Electric Vehicles (continued)

Growth Opportunity 2: Regional Production of EV Auto Parts

Growth Opportunity 2: Regional Production of EV Auto Parts (continued)

Growth Opportunity 3: Digital and Contactless Sales Process

Growth Opportunity 3: Digital and Contactless Sales Process (continued)

Conclusions and Future Outlook

Your Next Steps

Why Frost, Why Now?

List of Exhibits

Legal Disclaimer

The Latin American automotive industry continues to grow, despite COVID-19, scarcity of resources and auto parts, the Russo-Ukrainian War, inflation, and exchange rates affecting vehicles’ availability and prices. With 4.4 million units sold and a slow recovery from the pandemic, Latin American automotive expanded by 2.7% in 2022. Ecuador showed the most growth in the region, selling 16.8% more units than in 2021, going from almost 109,000 to more than 127,000 units. Meanwhile, Brazil, the largest sector, showed negative 0.1% growth, although it is expected to have positive growth in 2023. This study covers trends including powertrain diversification, a rise in the number of SUVs, the penetration of Chinese OEMs, modifications in purchase processes, and local production of hybrid and electric vehicles. Toyota remains the key company in the region and the electrified vehicle (xEV) sector. The industry is expected to grow by 2.4% in 2023. Estimates show that Ecuador will continue experiencing the maximum growth in the region, with a projected growth of 12.5%, reaching more than 143,000 units. Argentina and Brazil follow, with estimated growth of 4.5% and 5.2%, respectively.
More Information
Author Victoria Rinaldi
Industries Automotive
No Index No
Is Prebook No
Keyword 1 Automotive Industry Trends
Keyword 2 Automotive Market
Keyword 3 Automotive Industry Analysis
Podcast No
WIP Number PE94-01-00-00-00