Chile. Vehicle market down 10.6% in 2019

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Chilean Vehicles Market
Mitsubishi-Outlander_Sport-2018

Chilean Vehicles Market in 2019 has declined, hit by economic and social difficulties, after reaching in 2018 the all-time sales record. Indeed, Total sales have been 373.277, down 10.6%. Chevrolet was still market leader despite losing near 8 points of share in 10 years.

Economic Environment

The economy is in the midst of a rocky fourth quarter as President Sebastian Piñera’s efforts to quell the protests that have engulfed the country since mid-October have so far proved unsuccessful. Amid the upheaval, the government proposed a rewriting of the constitution, while Congress approved a revised 2020 budget that ramps up public expenditure on pensions, healthcare and transport, and is projected to push the fiscal deficit to 2.9% of GDP from a previously planned 2.0% of GDP.

Available data since the start of the turbulence has been bleak, with economic activity contracting for the first time in two and a half years in October. This markedly contrasts the third quarter’s expansion, which saw the economy growing at the fastest pace of the year thanks to blistering fixed investment growth and a rebound in exports.

Market Trend

Chilean Vehicles Market hit a record in 2013 when sales reached 378.000 units, before to rapidly decline, hit by the economic crisis, at 282.232 in 2014, when the decline ended and a new positive cycle started. Sales grew up for four years arriving over the milestone of the 0.4 million units in the 2018, when a new all-time record was hit at 417.354 units.

During 2019, the economic and social environment deteriorated and the domestic light vehicles market was hit, closing the full year down in double-digits. Indeed, as reported by the local Association of Car Manufacturers, Total sales have been 373.277, down 10.6%.

A decade ago three brands (Chevrolet, Nissan and Hyundai) held 41% of market. In 2019 were declining and while Chevrolet was still on top of the ranking, its market share declined at 9.4% from 17.1% in the 2010, Hyundai has been overtaken by Kia, actually the second brand with 7.6% of share.

Tables with sales figures

In the tables below we report sales for all Brands and top 10 Manufacturers Group.

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