Argentina Auto Sales in October 2023 grow for the 16th consecutive month, with 39,648 new registrations and a 42.3% year-on-year increase in sales. YTD figures reach 368,191 up 16.7% from the prior year.
Market Trend and Outlook
The Argentinian Vehicle Market in October 2023 grows for the 16th consecutive month, reporting 39,648 new registrations and a 42.3% year-on-year increase in sales. YTD figures reach 368,191 up 16.7% from the prior year.
Looking at cumulative data up to October 2023 brand-wise, the leader is Toyota with 80,921 sales (+17.7%), followed by Fiat at 50,137 (+7.2%), in front of Volkswagen with 47,335 light vehicle registrations (+22.3%).
Renault maintains 4th position with 43,353 sales (+26.6%) followed by Peugeot at 37,605 (+31.0%), Ford with 31,730 (+49.5%) and Chevrolet -down 1 spot- with 27,128 new light vehicle sales (+12.3%).
Nissan maintains 8th position with 16,303 sales (+38.0%), in front of Citroen in 9th with 10,459 (-4.9%) and Jeep closing the Top 10 with 7,809 sales (+1.1%).
Looking at specific models the Fiat Cronos remains the best seller with an 34.5% increase in year-on-year sales. In second ranks the Peugeot 208 which grew 65.2% in yearly volume.
Medium-Term Market Trend
The Argentinian light vehicle market had many ups and downs in the last decade, rising to 917,777 sales in 2013 and collapsing 25.4% in the following year to 684,459 new registrations. Sales fell to 633,740 in 2015 and began to recover up to 863,556 in 2017. 2018 and 2019 both reported losses with the later falling 42.9% reaching the lowest of the past decade at 438,590.
The arrival of the pandemic in 2020 worsened the situation causing the market to fall another 30.7% to 303,793.
Post-covid the Argentinian light vehicle market is showing signs of recovery with 2021 ending at 355,793 sales (+17.1%) and 2022 totaling 392,533 sales, a 6.5% growth from the prior year. The momentum gained in the second half of 2022 continues into 2023, with the first months of the year reporting strong growth.
Despite the great performance in the last few years, there are a few factors that will put negative pressure on the market throughout 2023: the disruption in the global supply chain caused by a lack of raw materials, in particular for the production of microchips and the Governments push towards Evs. This last point isn’t as important now as it will be in the future, considering that currently only 0.45% of market share in South America belongs to BEVs.
Tables with sales figures
In the tables below we report sales for top 10 Brands, top 10 Manufacturers Group.