Market Size of south america passenger cars Industry
| 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.
