MERCOSUR: Truck Market 2023

Truck Market Size in MERCOSUR

The MERCOSUR truck market shrank slightly to $X in 2022, approximately mirroring the previous year. Overall, consumption continues to indicate a noticeable shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Truck Production in MERCOSUR

In value terms, truck production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a deep contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by 13%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Truck Exports

Exports in MERCOSUR

In 2022, overseas shipments of trucks increased by 3.8% to X units, rising for the second consecutive year after three years of decline. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 42%. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, truck exports expanded sharply to $X in 2022. In general, exports, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 53% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Argentina was the main exporter of trucks in MERCOSUR, with the volume of exports recording X units, which was approx. 59% of total exports in 2022. It was distantly followed by Brazil (X units) and Uruguay (X units), together making up a 39% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Uruguay (with a CAGR of +31.8%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest truck supplying countries in MERCOSUR were Argentina ($X), Brazil ($X) and Uruguay ($X), together accounting for 97% of total exports.

Uruguay, with a CAGR of +25.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per unit, surging by 8.1% against the previous year. Over the period under review, the export price, however, recorded a mild curtailment. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Uruguay ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (-1.4%), while the other leaders experienced a decline in the export price figures.

Truck Imports

Imports in MERCOSUR

In 2022, the amount of trucks imported in MERCOSUR shrank modestly to X units, approximately mirroring the previous year's figure. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 67% against the previous year. As a result, imports reached the peak of X units, and then fell modestly in the following year.

In value terms, truck imports rose sharply to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 74%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Brazil (X units) and Chile (X units) represented roughly 64% of total imports in 2022. Peru (X units) held an 8.1% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (7.1%), Colombia (7%) and Ecuador (4.6%). Uruguay (X units) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +3.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest truck importing markets in MERCOSUR were Chile ($X), Brazil ($X) and Peru ($X), together comprising 74% of total imports.

In terms of the main importing countries, Chile, with a CAGR of +4.8%, 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

In 2022, the import price in MERCOSUR amounted to $X per unit, increasing by 8.7% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Peru ($X per unit) and Chile ($X per unit), while Ecuador ($X per unit) and Uruguay ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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