MERCOSUR: Passenger Car Market 2024

Passenger Car Market Size in MERCOSUR

After two years of growth, the MERCOSUR passenger car market decreased by X% to $X in 2023. In general, consumption showed a abrupt downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Passenger Car Production in MERCOSUR

In value terms, passenger car production shrank slightly to $X in 2023 estimated in export price. Overall, production continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Passenger Car Exports

Exports in MERCOSUR

In 2023, after two years of growth, there was significant decline in shipments abroad of passenger cars, when their volume decreased by X% to X units. Overall, exports saw a perceptible downturn. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, passenger car exports declined to $X in 2023. Over the period under review, exports recorded a pronounced reduction. The growth pace was the most rapid in 2022 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 2023, the exports remained at a lower figure.

Exports by Country

Brazil was the key exporter of passenger cars in MERCOSUR, with the volume of exports amounting to X units, which was near X% of total exports in 2023. It was distantly followed by Argentina (X units), constituting a X% share of total exports. Colombia (X units) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the passenger cars exports, with a CAGR of X% from 2012 to 2023. Colombia (X%) and Argentina (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Argentina (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest passenger car supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Argentina ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Brazil stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (X% per year) and Colombia (X% per year).

Export Prices by Country

In 2023, the export price in MERCOSUR amounted to $X per unit, picking up by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2023 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Argentina ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced a decline in the export price figures.

Passenger Car Imports

Imports in MERCOSUR

In 2023, after two years of growth, there was significant decline in purchases abroad of passenger cars, when their volume decreased by X% to X units. Over the period under review, imports saw a pronounced decline. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, passenger car imports fell slightly to $X in 2023. In general, imports continue to indicate a noticeable setback. The growth pace was the most rapid in 2021 with an increase of X%. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

Chile (X units) and Brazil (X units) represented roughly X% of total imports in 2023. Colombia (X units) ranks next in terms of the total imports with a X% share, followed by Peru (X%), Argentina (X%) and Ecuador (X%). Uruguay (X units) held a minor share of total imports.

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

In value terms, Brazil ($X), Chile ($X) and Colombia ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Argentina, Peru, Ecuador and Uruguay lagged somewhat behind, together comprising a further X%.

Ecuador, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MERCOSUR stood at $X per unit in 2023, surging by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The level of import peaked at $X per unit in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per unit), while Ecuador ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform