South American countries are expanding its presence in the world markets owing to their growing economies. With the automotive sector being one of the major contributors to a country’s GDP to boost the growth potential of automotive industries, the South American governments are taking certain measures to increase competition and stimulate the economy that could positively affect the market. The FDIs from long-term established companies such as Fiat and Volkswagen have resulted in the increased capital in automobile industry. Brazil, the leading automotive market in South America, is largely controlled by three major companies: Fiat-Chrysler, Volkswagen, and General Motors. The increasing trend in the production has prompted strong investments from a number of manufacturers, thus contributing a larger share of FDIs. Argentinean market is growing at a rapid rate with cheap labor force available in the country.
The South American market is expected to grow at a CAGR of 4.5% by 2018. The Brazilian market is expected to flourish at a higher rate compared to other countries in South America on account of the growing urbanization, expansion of plants, and heavy investments made by the industries.
This report covers the vehicle production in terms of volume (thousand units) from 2011 to 2018. The production is segmented by Geography (Brazil, Argentina, and others), Vehicle type (Passenger cars, Light commercial vehicles, and Heavy commercial vehicles) and Fuel type (Gasoline, Diesel, and others). Production estimates are provided for individual countries.
The report also provides a comprehensive review of the market drivers, restraints, opportunities, and challenges in the South American automotive market. The major automotive OEMs in the market have also been identified and profiled.