Uruguay. Market closed the 2019 down 7.3%, falling below the 2010’s volume

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Uruguayan Vehicles Market
Volkswagen-T-Roc_Cabriolet-2020

Uruguayan Vehicles Market in 2019 kept declining, ending below the 2010’s volume. Indeed, Total registrations in 2019 have been 40.482, down 7.3%. Volkswagen – followed by Renault and Suzuki – ended to a peak of 15% of share, improving by 1.3 points from last year.

Economic Environment

Uruguayan economy picked up pace in the third quarter of 2019, after stagnating in Q2, although the rate of expansion was modest overall. A stronger external sector, powered by soaring exports of soybeans, underpinned the acceleration, as did a healthy rebound in consumer spending. In contrast, a large reduction of stocks of finished agricultural products and a slump in infrastructure spending dragged down total investment.
Turning to the final quarter of 2019, data was mixed: On the one hand, industrial activity fell in October–November; on the other hand, the labour market improved somewhat in the same period. Meanwhile, in mid-December, the IMF concluded an Article IV mission in the country.

Market Trend

Uruguayan vehicles market in recent years declined from the record established in the 2013, with 56.220 light vehicles sold to the 44.285 units reported in the 2016. However, in 2017 the market reported a robust performance ending the year at the second best result ever, with 54.948 units (+25.4%).

In the 2018 the market was heavily negative, ending with registrations at 43.815 and marking the lowest annual volume since 2010, leading the market down 20.3%.

However, in 2019, according to the Asociation del Comercio Automotor del Uruguay, the market was still declining, falling below the 2010’s volume. Indeed, Total registrations in 2019 have been 40.482 (-7.3%).

In the competitive landscape, Volkswagen held the market throne for the second consecutive year, after having outpaced Fiat and Chevrolet in 2017. Volkswagen ended to a peak of 15% of share, improving by 1.3 points from last year.

Behind, we find Renault and Suzuki, which have both gained almost 10 points of share during the last decade, ended respectively to 14.6% and 11.2%. Instead, Chevrolet – closing the year in 5th place – has eroded its market share, moving from 28.7% in 2010 to a mere 9.5%.

Tables with sales figures

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

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