Uruguay 2024. Fiat Gains Leadership In Market Increase In January (+6.2%)

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Uruguayan Vehicles Market slightly increases in 2024. Total sales in January reach 4,037 units (+6.2%). Fiat gains leadership, moves up 8 places and increases by 643.3%.

Market Trend and Outlook

The Uruguayan vehicles market grows for the 9th month in a row, reporting 4,037 new sales (+6.2%).

Looking at cumulative data up to January 2024 brand-wise, Fiat gains the lead, up 8 spots, with 773 sales (+643.3%), followed by Chevrolet, previous leader, with 617 sales (-12.5%) and Volkswagen with 376 sales (-14.0%).

Hyundai rises 3 spots into 4th with 296 units sold (+41.0%), in front of Suzuki -down 3 spots- at 262 (-52.4%), Renault -down 2 spots- at 240 (-18.6%) and Peugeot -down 1 spot- with 210 sales (-8.7%).

Toyota in 8th with 184 sales (+39.4%), followed by Citroen -down 4 spots- in 9th at 160 (-43.3%) and Nissan -up 6 spots- in 10th with 128 registrations (+172.3%).

Looking at specific models the Fiat Egea is the best selling growing 21.3% in year-on-year sales, followed by the Renault Mégane up 2266.5%.

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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