Key regions: United States, Germany, Europe, China, India
The Passenger Cars market in Chile is experiencing significant growth and development.
Customer preferences: Customers in Chile are increasingly looking for passenger cars that are fuel-efficient and environmentally friendly. This is driven by growing awareness of the need to reduce carbon emissions and the rising cost of fuel. As a result, there is a growing demand for hybrid and electric vehicles in the country.
Trends in the market: One of the key trends in the Passenger Cars market in Chile is the increasing popularity of SUVs and crossovers. These vehicles offer a combination of comfort, space, and versatility, making them suitable for both urban and rural areas. The demand for SUVs and crossovers is driven by the growing number of families and individuals who are looking for vehicles that can accommodate their lifestyle and transportation needs. Another trend in the market is the rise of online car sales. With the increasing use of the internet and smartphones, customers are now able to research and purchase cars online. This trend has been further accelerated by the COVID-19 pandemic, which has limited physical interactions and encouraged the adoption of digital platforms. Online car sales provide customers with convenience and a wider range of options, while also enabling dealerships to reach a larger customer base.
Local special circumstances: Chile has a well-developed infrastructure, including a network of highways and roads that connect different regions of the country. This makes it easier for customers to travel and commute, increasing the demand for passenger cars. Additionally, Chile has a stable political and economic environment, which provides a favorable business climate for automotive companies.
Underlying macroeconomic factors: The Chilean economy has been growing steadily in recent years, with a strong focus on diversification and innovation. This has led to an increase in disposable income and consumer spending, which in turn has boosted the demand for passenger cars. The government has also implemented policies to support the automotive industry, such as tax incentives for the purchase of electric vehicles. These factors have contributed to the growth of the Passenger Cars market in Chile.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
