Chilean Vehicles Market in 2025 keeps recovering from Q1 slump. YTD figures grew 2.1%, with Suzuki climbing 2 spots and growing 16.5% into 2nd. EVs gained 19.2%, with BYD growing 68.4% and threatening MG’s lead.
Economic Environment
In 2025, Chile’s GDP is projected to grow by 2.4%, with a similar pace expected in 2026, supported by rising real wages, job creation, and stronger investment amid easing credit conditions and improved business confidence. Export growth remains resilient, aided by robust demand from China, though global trade tensions, especially with the U.S. pose downside risks. Inflation, having risen to 4.5% in April due to energy price adjustments, is expected to decline steadily, reaching 3.3% in 2026 as core inflation continues to ease and expectations remain anchored. Monetary policy is set to gradually return to a neutral stance, with interest rates projected to converge around 4% by late 2026.
On the fiscal front, the government remains committed to a prudent path, implementing consolidation measures worth 0.6% of GDP and introducing new revenue sources, such as a mining royalty, to maintain debt sustainability. The economic recovery since mid-2024 has been driven by non-mining sectors, industrial output, and real wage growth, though employment gains remain uneven across sectors. Consumer sentiment is gradually improving, while investment is gaining momentum as financial conditions loosen. Risks to the outlook include a potential slowdown in global copper demand and heightened global uncertainty, which could dampen business sentiment.
Automotive Industry Trend and Outlook
After the downfall reported in 2024 that spilled over the first months of 2025, the Chilean vehicle market is recovering. Gains up to August amounted to 2.1% and totaled 199,982 units.
Brand-wise, Toyota maintained leadership with a share of 7.9% (+7.2%), followed by Suzuki -up 2 spots- in 2nd (+16.5%), Hyundai in 3rd (+4.1%) and Kia -up 1 spot- in 4th (-0.4%).
Chevrolet -down 3 spots- ranked 5th (-13.3%), followed by Ford -up 1 spot- in 6th (+7.9%), Peugeot -down 1 spot- in 7th (-5.7%) and Great Wall in 8th (+7.2%)
Mitsubishi –up 1 spot- ranked 9th (+11.8%), followed by Changan -up 1 spot- closing the top 10 (+18.6%).
Looking at specific models the Toyota Hilux was the leader despite losing 1.5%, followed by the Mitsubishi L200 which gained 11.3%.
EV Market Trend and Outlook
Chile’s EV Market gained 19.2% in 2025. Given the country’s role as a supplier of lithium, the government is investing in its charging infrastructure to scale up EV adoption. Lithium supplier are also entering long-term agreements with automakers to provide crucial resources for EV batteries.
MG led with a dominant 51% share despite losing 7.2%, while BYD followed in 2nd growing 68.4% to a share of 26.1%.
Medium-Term Market Trend
In the last decade, the Chilean vehicle market has seen many ups and downs. From 2014 to 2018, it fluctuated sharply, starting at 337,225 in 2014, briefly contracting in 2015 (-16.4%), then rebounding to a record 416,769 in 2018, up 15% year-on-year.
The pandemic in 2020 triggered a 30.4% drop to an all-time low of 258,603 units. However, the downturn wasn’t due to structural industry issues. In 2021, sales surged 60.6% to 415,612, and 2022 hit a decade high of 426,381 units. Still, performance weakened in the second half of 2022, with the final five months posting losses. This trend continued in 2023 with a 26.4% decline, and again in 2024, down 5% to 298,159 units.
Current struggles stem from global supply chain disruptions, especially microchip shortages, and the costly transition toward EVs, which remain unaffordable for many low-income consumers. That said, EV adoption in South America is still limited, at just 0.45% of the total market.
In Chile, EVs grew rapidly from 2021, thanks also to government support. Sales peaked in 2022, driven mainly by companies, then stabilized around 5,000 units in 2024. Model availability nearly doubled between 2023 and 2024 and prices dropped significantly. Government policies, like the 2024 Energy Efficiency Law, and more charging infrastructures supported growth. Still, high upfront costs and low awareness remain key barriers to mass adoption.
Tables with sales figures
In the tables below we report sales for all Brands and Top 10 Manufacturers Group.
