Latin America. Automobile sales in Latin America closed 2024 with a growth of 7.8%, reaching more than 5.6 million units sold, according to the Aconauto report.
Brazil positioned itself as the largest and most dynamic market in the region, with 2.6 million vehicles sold, representing a year-on-year increase of 14% and almost half of registrations in Latin America. Mexico, on the other hand, registered 1.4 million units sold, with an increase of 9.9%. Between the two countries, they concentrated 74.5% of the regional market.
Contrasts in the regional market
While Brazil and Mexico boosted the growth of the sector, Argentina faced a drop of 8.8%, with 409,000 units sold, affected by economic uncertainty. In contrast, Colombia registered 201,219 vehicles sold, with a rebound of 7.7%.
Chile closed the year with 318,000 units, while other relevant markets were Peru (169,309 units), Ecuador (108,266), Costa Rica (76,880) and Uruguay (66,664). At the bottom of the ranking, Paraguay, Bolivia and Venezuela reported combined sales below 80,000 units.
Prospects and challenges
Pedro Nel Quijano, executive president of Aconauto, highlighted the role of Brazil and Mexico as key drivers of the automotive sector in the region. "The behavior of the market reflects the influence of economic stability and domestic demand in each country," he said.
By 2025, the automotive industry in Latin America is expected to continue facing challenges such as inflation, interest rates and the transition to electric mobility, factors that will mark the sector's performance in the coming months.
