NEW YORK, Feb. 18, 2016 /PRNewswire/ -- Executive Summary—Key Findings
Commercial vehicle (CV) sales of select Latin American (LATAM) markets will likely surpass units by 2022.
Total CV Market: Key Takeaways, LATAM, 2014
In 2014, CV sales of select LATAM markets witnessed a year-over-year (YOY) decline of %, with an overall combined sales volume of units. All selected countries witnessed a decline in sales: Argentina at %, Brazil at %, Mexico at %, Chile at %, and Peru at %.
European and US original equipment manufacturers (OEM) will continue their dominance in the market. The current market share of all European OEMs in LATAM is %. US OEMs have a market share of %, followed by Japanese OEMs with a market share of %. Chinese OEMs, however, are paving the road into select LATAM markets with price competitive product offerings, accounting for a market share of %.
Heavy-duty trucks (HDT) are the largest key contributors to the CV market in Argentina, Brazil, Chile, and Peru because of key contributing industries such as mining, agriculture, oil and gas (O&G), and infrastructure that demand HDTs for cargo transportation. Light commercial vehicles (LCV) dominate in Mexico because of high urbanization trends and traffic congestion that do not permit HDTs to circulate in large cities.
HDTs and medium commercial vehicles (MCV) will witness higher growth rates because of current and future infrastructure planning and development projects and growth in sectors such as construction and agriculture that would harness the use of HDTs.
Diesel fuel is set to continue as the preferred fuel type in select LATAM markets because of price and availability; however, alternative fuels such as natural gas (NG) and ethanol will grow in market participation, mainly in Argentina, Peru, and Brazil.
Key Questions this Study will Answer
- What is the business environment of the automotive industry and its impact on sales of CVs?
- How are CVs classified, and how is the market structured?
- Who are the market leaders and what are their market shares?
- What are the technology trends in the market?
- What is the growth potential of the market?
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