Latin America Automotive Growth Outlook 2023: Market is Expected to Grow by 2.4% Despite Scarcity of Resources and Auto Parts, the Russo-Ukrainian War, Inflation, and Exchange Rates

DUBLIN, May 23, 2023 /PRNewswire/ -- The "LATAM Automotive Growth Outlook 2023" report has been added to  ResearchAndMarkets.com's offering.

The industry is expected to grow by 2.4% in 2023.

This study covers trends including powertrain diversification, a rise in the number of SUVs, the penetration of Chinese OEMs, modifications in purchase processes, and local production of hybrid and electric vehicles. Toyota remains the key company in the region and the electrified vehicle (xEV) sector.

The Latin American automotive industry continues to grow, despite COVID-19, scarcity of resources and auto parts, the Russo-Ukrainian War, inflation, and exchange rates affecting vehicles' availability and prices.

With 4.4 million units sold and a slow recovery from the pandemic, Latin American automotive expanded by 2.7% in 2022. Ecuador showed the most growth in the region, selling 16.8% more units than in 2021, going from almost 109,000 to more than 127,000 units. Meanwhile, Brazil, the largest sector, showed negative 0.1% growth, although it is expected to have positive growth in 2023.

Estimates show that Ecuador will continue experiencing the maximum growth in the region, with a projected growth of 12.5%, reaching more than 143,000 units. Argentina and Brazil follow, with estimated growth of 4.5% and 5.2%, respectively.

Key Topics Covered:

1. Strategic Imperatives

• Why Is It Increasingly Difficult to Grow?
• The Strategic Imperative 
• The Impact of the Top 3 Strategic Imperatives on the Automotive Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

2. Growth Environment

• Key Findings: A Recap of 2022
• Key Findings: Top 5 Predictions for 2023
• Notable Regulations and Mandates: A Snapshot
• Automotive Market by Country

3. 2023 Global Economic Outlook

• Top 5 Global Economic Highlights of 2022
• Top 5 Global Economic Highlights of 2023
• Global GDP Growth Expectations
• Recessionary/Slowdown Expectations for Major Economies
• Global GDP Growth Snapshot
• Advanced Economy Predictions for 2023
• Emerging Market Economy Predictions for 2023
• 2023 Regional Risks and Policy Direction
• 2023 Top Growth Opportunities by Region

4. Research Scope and Segmentation

• Research Scope
• Market Segmentation

5. Trends

• Top Trends Driving the Latin American Automotive Industry
• Trend 1: Powertrain Diversification
• Trend 2: Chinese OEMs
• Trend 3: Rise of SUVs
• Trend 4: Changes in the Purchase Process
• Trend 5: Local Production of Hybrid and Electric Vehicles
• Service and Tech Roadmap
• CASE Demand Matrix by Country

6. Market Measurement Analysis by Country (2023)

• Automotive Sales by Country
• Pricing Analysis
• Segment Forecast

7. Automotive Analysis by Country

• 2022 Country Analysis: Argentina
• 2022 Country Analysis: Brazil
• 2022 Country Analysis: Chile
• 2022 Country Analysis: Colombia
• 2022 Country Analysis: Ecuador
• 2022 Country Analysis: Mexico
• 2022 Country Analysis: Peru
• 2022 Country Analysis: Uruguay

8. Growth Opportunity Universe

• Growth Opportunity 1: Increased Offer of Electric Vehicles
• Growth Opportunity 2: Regional Production of EV Auto Parts
• Growth Opportunity 3: Digital and Contactless Sales Process

9. Conclusions

For more information about this report visit https://www.researchandmarkets.com/r/vp3tzr

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets