Uruguayan Vehicles Market in 2025 is expanding. YTD sales up to November gained 9.4%, with BYD leading in growth among best selling brands. Chery also reported major gains of 106.6% in 9th, showing how chinese carmakers are securing a share in one of LATAM fastest growing markets.
Market Trend and Outlook
In 2025, Uruguay’s real GDP growth is projected at 2.5 percent, driven by domestic demand and exports, while inflation is expected to converge around the central bank’s 4.5 percent target amid gradual monetary easing. The current account deficit is forecast to widen moderately to about 1.4 percent of GDP, consistent with economic fundamentals, and unemployment is expected to decline to around 7.9 percent.
Fiscal pressures are projected to increase, with the overall deficit of the central government rising to about 3.7 percent of GDP, reflecting fiscal inertia, while gross public debt is expected to remain elevated at around 66.6 percent of GDP. Macroeconomic risks in 2025 are considered broadly balanced, with exposure to commodity prices, global financial conditions, and regional developments offset by strong liquidity buffers and favorable debt profiles. Looking back, economic growth reached 3.1 percent in 2024, supported by a rebound in agricultural production and strong tourism inflows, while inflation fell to 4.2 percent by August 2025.
Automotive Industry Trend and Outlook
Looking at cumulative data up to November 2025 brand-wise, Fiat –up 1 spot- secured top position with a share of 13.8% (-14.7%), followed by BYD -up 4 spots- (+117.3%) and Chevrolet -down 2 spots- (-24.2%).
Volkswagen was down 1 spot into 4th (-11.4%), in front of Renault -down 1 spot-(+12.1%) which closed the top 5.
Looking at specific models the Fiat Strada was still on top of the ranking, despite losing 6.1% in year-on-year sales, followed by the Chevrolet Onix down 39.4%.
EV Market Trend and Outlook
EV Demand grows in Uruguay, showing a trend of expansion driven by government incentives and the introduction of more affordable models mostly from chinese carmakers, of whom BYD is the leader.
Still, growth could be halted by the lack of a proper charging infrastructure, which could potentially induce a market bottleneck in the future.
Medium-Term Market Trend
The Uruguayan vehicle market has experienced pronounced volatility over the past decade. Full-year sales declined from 51,835 units in 2014 to 45,278 in 2016, reflecting consecutive contractions in 2015 (-7.8%) and 2016 (-5.3%).
The market rebounded strongly in 2017, expanding by 20.7% to 54,654 units, but this recovery proved short-lived as sales fell again in 2018 (-19.9%) and 2019 (-7.4%). The downturn deepened in 2020, when the pandemic pushed sales down to 34,537 units, the lowest level of the period, representing a 14.8% annual decline. A sharp recovery followed in 2021, with sales surging 42.6% to 49,267 units as demand normalized.
Growth continued in 2022 and 2023, with volumes reaching 52,848 units (+7.3%) and 58,314 units (+10.3%), respectively. In 2024, the market maintained its upward momentum, rising 8.5% to 63,276 units, the highest level of the decade.
Tables with sales figures
In the tables below we report sales for all Brands and top 10 Manufacturer Groups.
