The Republic of Uruguay is a small country (176.000 square kilometers) betwixt Brazil and Argentina where are 3.3 millions people are living with elevat grade of democracy. The level of urbazization in the country is very high (92%) with almost the half of citizens living ing in Montevideo, the capital. Uruguay is a Mercosur member.
The economy is based on well educated work force, high level of social spending and strong exports from agricultural sector due to the global diffusion of biofuel energy. During last years the economy grew very fast, with a CAGR of 8% between 2004-2008, a deceleration at 2.6 in 2009 as effect of global economic crisis and a restart in 2010 (8.5%) and 2011 (6%). The pro capita revenue (at purchase power parity) at $ 15.400 is fast growing and is the 3rd in South America after Argentina and Chile.
October 2013 reported a huge increase for the light passenger vehicles market in Uruguay, balancing the deep loss reported in the previous month. However, cumulated sales were moderately up running to post a new all-time record. Fiat shines while Volkswagen struggles.
In August light passenger vehicles market kept growing in Uruguay, as sales were up 6.8% from year ago. The news of the months was the rolling out of the first Emgrand EC7 produced locally by Geely, in the Nordex Plant in Montevideo.
The Automotive industry in Uruguay kept its growing trend in May soaring 18.4% from last year and showing as this year a new all-time record will be achieved, the third in a row. In May Fiat sales boomed with share above 10%.
In April, the car market in Uruguay posted a robust 22.3% increase from last year, hiding the bad performance posted in the previous month. Year-to-date sales were up 8.9%. The market leader, Chevrolet, suffered losing 2.8 points of share.
Following fast start of January, the car market in Uruguay is facing a downturn. In March sales were down 10.3% and the first quarter ended positive only for 4.8%. The Winners so far this year are the European Peugeot and the Chineses Chery -in third - and FAW.
Following the all-time record posted in the 2012, the third yearly record in a string, the car market in Uruguay started the new year with a robust growth, improving 29.6% from last year. Fiat performance was outstanding with share at 8.7%, up 1.7 points.
Posting a 5.3% drop in December, the light passenger vehicle market in Uruguay ended a positive year, with sales up 3.5% from 2011 and touching the new all-time record sales for the third year in a row. Chevrolet in December exploit at 27%.
In Uruguay, November had cut the yearly increase with a 16% drop. However, at the end of a strong year, the car market was posting a year-to-date increase of 6.9% from last year. Following the October debacle, Fiat recovered in November.
Hit by the increased taxation, the October car sales in Uruguay were sharply down, with a year-on-year 19.2% drop. However, year-to-date sales were up 6.9% from last year. Fiat dropped in 10th position in the month and Hyundai in 11th.
In September, car market in Uruguay posted 8.233 sales with an astonishing 79% increase from last year. Year-to-date sales were 41.014, up 9.8%, projecting the new all-time record. Volkswagen outpaced Chevrolet taking the monthly leadership.
Uruguay car industry momentum continued in April with 3.538 sales, up 0.3% from last year. The year-to-date sales in April were 15.365, up 3.7% from last year. In April, Volkswagen posted all time record share at 17.0%.
Uruguay is a small country, with world's record taxation over car industry and with a strong Chinese brand presence, The Chinese carmaker, Chery, is third in the 2011 sales ranking, the best performance ever achieved by a Chinese brand outside China and the best rank actually owned by a Chinese in any global automotive country.