Argentina Vehicles Market slowed down in 2024, shrinking 7.9% after four years of steady growth. Volkswagen held strong with three models in the top 10, while the Fiat Cronos lost its crown as the top-ranked model.
Market Trend and Outlook
The argentinian EV segments struggled in 2024, held back by regulatory and technological hurdles. Down by 27.2%, the EV share of total vehicle sales remained negligible.
Local brand Coradir held its leadership despite a 38.3% drop, while Mercedes secured second place with steadier results. BAIC and Volvo posted impressive growth rates further down the rankings.
Looking at sales figures, the start of 2024 has been deeply negative brutally interrupting recent years momentum. While the second half of the year saw some improvement, full-year sales still fell 7.9% to 386,439 units compared to 2023.
Looking at cumulative data up to December 2024 brand-wise, the leader was still Toyota with 84,206 sales (-9.4%), followed by Volkswagen at 63,779 (+13.3%), in front of Fiat with 46,746 (-14.6%).
Peugeot -up 1 spot- ranked 4th with 36,641 sales (-10.1%) followed by Ford -up 1 spot- at 35,168 (-3.6%), Renault -down 2 spots- with 35,111 (-30.6%) and Chevrolet with 23,452 (-22.2%).
Citroen gained 1 position and ranked 8th with 14,124 sales (+20.3%), in front of Jeep -up 1 spot- with 12,809 sales (+47.1%) and Nissan -down 2 spots- in 10th place with 12,674 sales (-33.2%).
Looking at best-selling models, with full details reported in the dedicated post, the Peugeot 208 became the best seller despite a 18.8% decrease in year-on-year sales. The Toyota Hilux ranked 2nd, declining by 5.8% in yearly volume and in third place the Fiat Cronos lost its spot in 1st (-41.1%).
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.
In 2023 reported figures at 419,256, a 6.8% increase from 2022. Despite few factors that 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 all Brands, top 10 Manufacturers Group, and top 10 Models.