Chile 2020. Vehicle market plummeted again 72% due to lockdown extension

Chilean Vehicles Market

Chilean Vehicles Market in May fell sharply down again – matching the April’s trend – as lockdown measures were further extended due to an exponential growth of Covid-19 cases in recent months. Indeed, in May sales dropped 72% with 8.673 units sold, leading Year to Date sales to 93.772 (-30.7%). 

Chilean Vehicles Market in May

The impact of the Coronavirus has been great in Chile. As of 21 June 2020, the Country has the third-largest number of cases in South America and in Latin America, after Brazil and Peru. Since the number of new cases have exponentially rose in the last two months, lockdown and business closures were further extended, largely hitting the vehicle market. 

Indeed, in May the Chilean vehicles market reported a 72% drop with 8.673 units sold, leading Year to Date sales to 93.772 (-30.7%).

Brand-wise, the market leader Chevrolet managed to somewhat “resist”, losing 60.2% and signing the best Top 20 performance. Kia ranks second in the Year-to-date ranking, despite the large loss in May.

Post Covid19 Market Trend

As a response to the spread of the Coronavirus, a 90-day state of catastrophe was announced in the Country on March 18, followed by a national night-time curfew on March 22 and complete lockdowns in many communes.

As a result, the Q1 fell down 19% with 76.206 units sold. In April, auto sales crumbled 72.7% with 8.893.

Medium Terms 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 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 at 73.277 units.

In the first two months of 2020, as reported by the local Association of Car Manufacturers, the market was following the previous year’s negative trend. Indeed, year-to-date February sales were 57.057, down 10.9%.

Tables with sales figures

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

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