Chile: Passenger Car Market 2024

Passenger Car Market Size in Chile

In 2022, the Chilean passenger car market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated notable growth from 2012 to 2022: its value 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 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the near future.

Passenger Car Production in Chile

In value terms, passenger car production reached $X in 2022 estimated in export price. In general, the total production indicated tangible growth from 2012 to 2022: its value 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 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2015 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Passenger Car Exports

Exports from Chile

In 2022, shipments abroad of passenger cars increased by X% to X units, rising for the fifth consecutive year after two years of decline. In general, exports continue to indicate a moderate expansion. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, passenger car exports rose to $X in 2022. Over the period under review, exports, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Paraguay (X units) was the main destination for passenger car exports from Chile, accounting for a X% share of total exports. Moreover, passenger car exports to Paraguay exceeded the volume sent to the second major destination, the Dominican Republic (X units), more than tenfold. The third position in this ranking was held by Bolivia (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Paraguay amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (X% per year) and Bolivia (X% per year).

In value terms, Paraguay ($X) remains the key foreign market for passenger cars exports from Chile, comprising X% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a X% share of total exports. It was followed by Bolivia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Paraguay stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (X% per year) and Bolivia (X% per year).

Export Prices by Country

In 2022, the average passenger car export price amounted to $X per unit, waning by X% against the previous year. In general, the export price saw a deep reduction. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per unit), while the average price for exports to Argentina ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (X%), while the prices for the other major destinations experienced a decline.

Passenger Car Imports

Imports into Chile

Passenger car imports into Chile expanded significantly to X units in 2022, with an increase of X% compared with the previous year's figure. In general, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, passenger car imports surged to $X in 2022. Overall, total imports indicated temperate growth from 2012 to 2022: its value 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 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X units), Japan (X units) and South Korea (X units) were the main suppliers of passenger car imports to Chile, together comprising X% of total imports. Brazil, India, Mexico, France, the United States, Germany and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of passenger cars to Chile, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Brazil, with an X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the average passenger car import price amounted to $X per unit, picking up by X% against the previous year. In general, the import price, however, continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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