Uruguay 2024. Light Vehicle Sales Fell After 10 Positive Steps

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Uruguayan Vehicles Market fellin March. The light vehicle market in Uruguay reported in March 2024 the first decline after a series of 10 consecutive growing months. Sales have been 4.634 (-12.3%) with Year to Date figures at 13.484 (+5.9%).

 

Market Trend and Outlook

The light vehicle market in Uruguay reported in March the first decline after a series of 10 consecutive growing months. Sales have been 4.634 (-12.3%) with Year to Date figures at 13.484 (+5.9%).

Looking at cumulative data up to March 2024 brand-wise, Chevrolet maintains the lead with 2,285 sales (+42.9%), followed by Fiat -up 2 spots- with 1,943 sales (+67.4%) and Renault -up 3 spots- with 1,025 sales (+2.0%).

Volkswagen down 1 spot into 4th with 1,012 units sold (-27.4%), in front of Hyundai -up 3 spots- at 1,008 (+31.9%), Suzuki -down 4 spots- at 967 (-38.0%) and Peugeot with 727 sales (-16.6%).

Nissan gains 1 spot ranking in 8th with 715 sales (+21.6%), followed by Citroen -down 4 spots- in 9th at 683 (-35.2%), and Toyota in 10th with 560 registrations (+8.3%).

Looking at specific models the Fiat Strada is the best-selling although losing 24.2% in year-on-year sales, followed by the Chevrolet Onix down 35.7%.

 

Medium-Term Market Trend

The Uruguayan vehicles market has had many ups and downs in the past decade. From 2010 to 2013 sales grew from 39,961 to the current all time high of 56,113 sales. The trend reversed in the following year, falling to 45,337 sales in 2016. In 2017 the market grew 21.2% reaching 54,948 sales, but it when back to losing in 2018 and 2019.

The arrival of the pandemic caused the demand for light vehicles to drop even further, reaching the lowest levels of the decade at 34,540 (-20.3%).

Luckily in 2021 the market bounced back right away, reporting at +42.6% variation that took sales up to 49,267. In 2022 sales maintained the momentum, growing 7.2% to 52,829. The Uruguayan vehicles market in 2023 registered 58,314 sales and were up 10.3% from the previous year.

This being said lately the global automotive industry has been confronting some issues that might lower vehicle demand in the future: the disruption in the global supply chain caused by a lack of raw materials, in particular for the production of microchips and Governments push towards Evs, an expensive alternative for low income consumers. At the moment affects from this last point are very mild, due to the low adoption of BEVs in South American countries (0.45% of total market share in South America).

 

Tables with sales figures

In the tables below we report sales for all Brands and top 10 Manufacturer Groups.

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