South America Passenger Cars Market Size
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Base Year For Estimation | 2023 |
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CAGR | -2.66 % |
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Largest Share by Sub Body Type | Sports Utility Vehicle |
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Largest Share by Country | Argentina |
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Market Concentration | High |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South America Passenger Cars Market Analysis
The South America Passenger Cars Market is projected to register a CAGR of -2.66%
- Largest Segment by Fuel Type - Gasoline : The gasoline variant covers major sales with almost 83% in the passenger cars segment due to its easy availability and maintenance due to traditional fuel type, as the region lacks charging infra.
- Fastest-growing Segment by Fuel Type - FCEV : In 2021, there were around 5,200 battery electric vehicles in South America. Battery electric cars are rapidly increasing with the government's boost in the form of incentives and policies.
- Largest Segment by Engine Type - ICE : The ICE is the largest engine type as it is traditional and uel is easily available. In ICE, around 84% of gasoline-powered, occupies the major share of the South American passenger cars market.
- Largest Segment by Country - Argentina : In 2021, over 1.5 million passenger cars were sold in Brazil. Brazil is the largest market for passenger car, due to the large number of population across South America.
South America Passenger Cars Market Trends
This section covers the major market trends shaping the South America Passenger Cars Market according to our research experts:
Sports Utility Vehicle is the largest segment by Sub Body Type.
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Argentina is the largest segment by Country.
- Due to low levels of car ownership and faster growth in disposable incomes than in Asia-Pacific, the South American market presents an enormous opportunity for the automotive sector. Over the past few years, there has been an increase in demand for electric vehicles in South America owing to concerns like the necessity to reduce emissions in order to attain energy efficiency and the need to meet future energy demands. The industry is projected to be fueled by Brazil's growing EV demand, which has encouraged various foreign companies to start making their EVs in the region.
- The COVID-19 epidemic has reduced consumer purchasing power, causing a large decline in oil prices and, as a result, reducing the cost of gasoline. The drop in gas prices may lower the overall cost of ownership for conventional vehicles with internal combustion engines (ICEs). Although the advantage may not be as substantial, EVs may still have lower total costs of ownership than typical ICE vehicles do in most classes, which could affect sales.
- Ethanol made from sugarcane is a relatively sustainable fuel in South America. Additionally, this fuel has direct emissions that are up to 90% lower than those of gasoline or diesel equivalents. Additionally, the rise of the market has been significantly influenced by Brazil's growing use of superior sustainable fuel alternatives. One of the key factors driving the market's expansion is the rise in renewable energy consumption in the automobile sector. With the industry moving toward a more sustainable production, the research being carried into the electrification of automotive looks promising because the region is a hot investment zone, owing to the growing nature of the market, which can bring in a lot of money and improve the market conditions.
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South America Passenger Cars Industry Overview
The South America Passenger Cars Market is moderately consolidated, with the top five companies occupying 58.30%. The major players in this market are Fiat, Ford Motor Company, General Motors, Honda Motor Co. Ltd. and Toyota Motor Co. (sorted alphabetically).
South America Passenger Cars Market Leaders
Fiat
Ford Motor Company
General Motors
Honda Motor Co. Ltd.
Toyota Motor Co.
*Disclaimer: Major Players sorted in no particular order
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South America Passenger Cars Market News
- July 2022: Honda will relocate the transmission assembly to Santa Catarina, Brazil in order to increase its operational flexibility, efficacy, and competitiveness.
- July 2022: BMW has confirmed that the brand-new X1 and 3 Series will be produced in Brazil. To prepare the Araquari facility for the new models, the business will employ a portion of the BRL 500 million investment planned in November 2021.
- July 2022: Honda will relocate the transmission assembly to Santa Catarina, Brazil in order to increase its operational flexibility, efficacy, and competitiveness.
South America Passenger Cars Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
3.1. Study Assumptions & Market Definition
3.2. Scope of the Study
3.3. Research Methodology
4. KEY INDUSTRY TRENDS
4.1. Population
4.2. GDP
4.3. CVP
4.4. Inflation Rate
4.5. Interest Rate For Auto Loans
4.6. Battery Price (per Kwh)
4.7. Logistics Performance Index
4.8. Electrification Impact
4.9. Shared Mobility
4.10. New XEV Models Announced
4.11. Charging Stations Deployment
4.12. Regulatory Framework
4.13. Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION
5.1. Body Type
5.1.1. Passenger Cars
5.2. Engine Type
5.2.1. Hybrid And Electric Vehicles
5.2.1.1. By Fuel Type
5.2.2. ICE
5.2.2.1. By Fuel Type
5.3. Country
5.3.1. Rest-of-Latin America
6. COMPETITIVE LANDSCAPE
6.1. Key Strategic Moves
6.2. Market Share Analysis
6.3. Company Landscape
6.4. Company Profiles
6.4.1. BMW AG
6.4.2. Fiat
6.4.3. Ford Motor Company
6.4.4. General Motors
6.4.5. Honda Motor Co. Ltd.
6.4.6. Hyundai Motor Company
6.4.7. Kia
6.4.8. Nissan Motor Company Ltd
6.4.9. Renault
6.4.10. Toyota Motor Co.
6.4.11. Volkswagen AG
7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
8. APPENDIX
8.1. Global Overview
8.1.1. Overview
8.1.2. Porter's Five Forces Framework
8.1.3. Global Value Chain Analysis
8.1.4. Market Dynamics (DROs)
8.2. Sources & References
8.3. List of Tables & Figures
8.4. Primary Insights
8.5. Data Pack
8.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- SOUTH AMERICA PASSENGER CARS MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
- Figure 2:
- SOUTH AMERICA PASSENGER CARS MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
- Figure 3:
- SOUTH AMERICA PASSENGER CARS MARKET, CVP YOY GROWTH RATE, 2016 – 2027
- Figure 4:
- SOUTH AMERICA PASSENGER CARS MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
- Figure 5:
- SOUTH AMERICA PASSENGER CARS MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
- Figure 6:
- SOUTH AMERICA PASSENGER CARS MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
- Figure 7:
- SOUTH AMERICA PASSENGER CARS MARKET, LPI YOY GROWTH RATE, 2016 – 2026
- Figure 8:
- SOUTH AMERICA PASSENGER CARS MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
- Figure 9:
- SOUTH AMERICA PASSENGER CARS MARKET, DISTRIBUTION OF GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY, SHARE %, 2021
- Figure 10:
- SOUTH AMERICA PASSENGER CARS MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
- Figure 11:
- SOUTH AMERICA PASSENGER CARS MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
- Figure 12:
- SOUTH AMERICA PASSENGER CARS MARKET, VOLUME IN UNITS, 2016 – 2026
- Figure 13:
- SOUTH AMERICA PASSENGER CARS MARKET, VALUE IN USD, 2016 – 2026
- Figure 14:
- SOUTH AMERICA PASSENGER CARS MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
- Figure 15:
- SOUTH AMERICA PASSENGER CARS MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
- Figure 16:
- SOUTH AMERICA PASSENGER CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
- Figure 17:
- SOUTH AMERICA PASSENGER CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
- Figure 18:
- SOUTH AMERICA PASSENGER CARS MARKET, BY ENGINE TYPE, BY VOLUME IN UNITS, 2016-2028
- Figure 19:
- SOUTH AMERICA PASSENGER CARS MARKET, BY ENGINE TYPE, BY VALUE IN USD, 2016-2028
- Figure 20:
- SOUTH AMERICA PASSENGER CARS MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2016 - 2028
- Figure 21:
- SOUTH AMERICA PASSENGER CARS MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2016 - 2028
- Figure 22:
- SOUTH AMERICA PASSENGER CARS MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
- Figure 23:
- SOUTH AMERICA PASSENGER CARS MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
- Figure 24:
- SOUTH AMERICA PASSENGER CARS MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
- Figure 25:
- SOUTH AMERICA PASSENGER CARS MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
- Figure 26:
- SOUTH AMERICA PASSENGER CARS MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
- Figure 27:
- SOUTH AMERICA PASSENGER CARS MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
- Figure 28:
- SOUTH AMERICA PASSENGER CARS MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
- Figure 29:
- SOUTH AMERICA PASSENGER CARS MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
- Figure 30:
- SOUTH AMERICA PASSENGER CARS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
- Figure 31:
- SOUTH AMERICA PASSENGER CARS MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
- Figure 32:
- SOUTH AMERICA PASSENGER CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
- Figure 33:
- SOUTH AMERICA PASSENGER CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
- Figure 34:
- SOUTH AMERICA PASSENGER CARS MARKET, BY REST-OF-LATIN AMERICA, BY VOLUME IN UNITS, 2016-2028
- Figure 35:
- SOUTH AMERICA PASSENGER CARS MARKET, BY REST-OF-LATIN AMERICA, BY VALUE IN USD, 2016-2028
- Figure 36:
- SOUTH AMERICA PASSENGER CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
- Figure 37:
- SOUTH AMERICA PASSENGER CARS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 38:
- SOUTH AMERICA PASSENGER CARS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 39:
- SOUTH AMERICA PASSENGER CARS MARKET SHARE(%), BY MAJOR PLAYERS, 2021
South America Passenger Cars Industry Segmentation
Passenger Cars are covered as segments by Body Type. Hybrid And Electric Vehicles, ICE are covered as segments by Engine Type. Rest-of-Latin America are covered as segments by Country.| Body Type | |
| Passenger Cars |
| Engine Type | |||
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| Country | |
| Rest-of-Latin America |
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Market Definition
- Body Type - Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat.
- Engine Type - This includes Hybrid and electric vehicles and Internal combustion engines (ICE).
- Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV while ICE includes Gasoline, Diesel, CNG, LPG.
- Sub Body Type - The sub-body type includes Hatchback, Sedan, SUV, and MPV.
- Vehicle Type - Passenger vehicles which includes electric powered cars and vehicles, sports utility vehicles, multipurpose vehicles
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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