Chinese carmakers got 7.5% of the South American market in 2022
- Sales of light vehicles (passenger cars and light utility vehicles) in nine South American countries (Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Uruguay, Bolivia and Paraguay) increased by 1.9% in 2022 compared to 2021 to reach 3.66 million units. Even though sales improved for the second year in a row, demand remained below the pre-coronavirus level of more than 4 million units.
- While sales in eight countries exceeded the previous year's results, a decline in Brazil, South America's largest market, dampened overall market growth. For the full year 2023, it is possible that sales will exceed 4 million units for the first time in four years due to economic recovery and improvement in the product supply system.
- Regarding sales by origin in 2022, European carmakers, which are strong in Brazil, increased their sales by 0.7% year-on-year, to 1.54 million units. Japanese carmakers come in second with 737,000 units, a decrease of 2%, followed by American carmakers with 700,000 units, an increase of 4.6%, and Korean carmakers with 343,000 units, an increase of 4.6%.
- Chinese automakers, which are launching low-cost cars in South America, increased sales by 16.7% year-on-year to 275,000 units, continuing to expand their market share, up 1 point to 7.5%. If we examine the market share of Chinese brands by country, it increased to 32% in Ecuador, 26% in Chile, 23% in Peru, 22% in Bolivia (the less wealthy countries in the region) compared to 1. 7% in Brazil and 0.6% in Argentina.