Car sales in Latin America grow, with Brazil and Mexico to the head

The Guild Association of Concessionaires of Automotores (Aconauto) presented its report on the performance of the sector automotive In 2024.

According to its report there was a 7.8 % growth between 2023 and 2024, of car sales in Latin America and added more than 5.6 million units.

Sale of cars: Brazil and Mexico, at the head of Latin America

Brazil It was consolidated as the most dynamic market, with more than 2.6 million vehicles sold, which represented an year -on -year increase and almost half of the enrollments in the region.

Mexico It took second place, with more than 1.4 million units sold and a 9.9 % growth, reaching a 27.7 % share in the Latin American market.

“In the absence of data from other countries, Brazil and Mexico concentrate 74.5% of car sales in Latin America, reflecting the strength of these markets as key poles for the automotive industry and their impact on regional trade,” said Pedro Nel Quijano, Executive President of Aconauto.

The Argentina It had a contraction of 8.8 %, which reduced sales to approximately 409,000 units. However, at the beginning of the year it shows recovery

In the regional ranking, Argentina was followed by Chile, with more than 318,000 units sold, and Colombia, with 201,219 units, which experienced a growth of 7.7 % year -on -year and a 3.6 % participation in the region.

In the intermediate block are Peru (169,309 units), Ecuador (108,266), Costa Rica (76,880) and Uruguay (66,664). Meanwhile, Paraguay, Bolivia and Venezuela were located in the lower list, with combined sales below 80,000 units.

Facing 2025, the association expects the upward trend to remain, with an estimated growth of 8 %, which would allow the region to exceed the brand of 6 million units sold and consolidate the recovery of the sector initiated in 2020.

As for new technologies, in Latin America, Brazil is considered the largest automotive market in the region, both for electric vehicles and for cars in general.

Last year, sales of electric vehicles in Brazil grew by 126% year -on -year to 6.3% of new passenger cars sales, compared to 2.4% of 2023, according to the annual report LATAM EV OUTLOOK of Bloombergnef.

“The country is ready to host the first manufacturers of electric vehicles in South America, which could soon make electric vehicles as cheap as their gas counterpart,” the analysts say.

On the other hand, in the last five years, China quadrupled sales to the region, from US $ 2,182 million in 2019 to US $ 8,564 million in 2023, which represents 20% in the market share measured in money. In this way, the Asian giant became the first provider in Latin America, according to the International Trade Center (ITC).