Bolivia: Passenger Car Market 2024

Passenger Car Market Size in Bolivia

The Bolivian passenger car market was estimated at $X in 2023, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a relatively flat trend pattern. Passenger car consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Passenger Car Exports

Exports from Bolivia

Passenger car exports from Bolivia skyrocketed to X units in 2023, increasing by X% against 2022. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, passenger car exports soared to $X in 2023. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units), Germany (X units) and France (X units) were the main destinations of passenger car exports from Bolivia, with a combined X% share of total exports.

From 2013 to 2023, the biggest increases were recorded for France (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for passenger cars exports from Bolivia, comprising X% of total exports. The second position in the ranking was held by Peru ($X), with a X% share of total exports. It was followed by Ecuador, with a X% share.

From 2013 to 2023, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (X% per year) and Ecuador (X% per year).

Export Prices by Country

The average passenger car export price stood at $X per unit in 2023, growing by X% against the previous year. In general, export price indicated mild growth from 2013 to 2023: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, passenger car export price increased by X% against 2021 indices. The export price peaked at $X per unit in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (X%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Bolivia

Passenger car imports into Bolivia totaled X units in 2023, stabilizing at the previous year. Over the period under review, imports, however, recorded a pronounced curtailment. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, passenger car imports soared to $X in 2023. In general, total imports indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

China (X units), Mexico (X units) and India (X units) were the main suppliers of passenger car imports to Bolivia, together accounting for X% of total imports. Brazil, Japan, Indonesia, the United States, Canada, South Korea, Hungary and Colombia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Hungary (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Brazil ($X) appeared to be the largest passenger car suppliers to Bolivia, together comprising X% of total imports. India, Indonesia, Mexico, the United States, South Korea, Hungary, Colombia and Canada lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Hungary, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average passenger car import price stood at $X per unit in 2023, picking up by X% against the previous year. In general, the import price recorded a strong expansion. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform