Key Takeaways
- 3.9 million vehicles produced in Mexico in 2024
- 12 million vehicles in operation in Mexico in 2023
- 16% market share of Volkswagen in Mexico in 2024
- 22% market share of Volkswagen in Brazil in 2024
- 18% market share of General Motors in Brazil in 2024
- 10,000 electric vehicles sold in Argentina in 2024
- 2.1% of new car sales in Latin America were electric vehicles in 2024
- 50,000 electric vehicles sold in Mexico in 2024
- $4 billion in auto parts exports from Argentina in 2023
- $1 billion in automotive FDI inflows to Argentina in 2023
- 10% of vehicle sales in Argentina are Chinese brands in 2024
- $1 billion in automotive FDI inflows to Argentina in 2023
- $4 billion in automotive FDI inflows to Mexico in 2023
- $2 billion in automotive FDI inflows to Brazil in 2023
Mexico leads Latin America auto production with 3.9 million vehicles while EV sales remain low.
Related reading
Production & Sales
13.9 million vehicles produced in Mexico in 2024[1]
Single source
212 million vehicles in operation in Mexico in 2023[2]
Verified
Production & Sales Interpretation
Mexico’s 2024 production of 3.9 million vehicles underscores a robust auto industry that is steadily replenishing and expanding the country’s 12 million vehicles in operation from 2023, highlighting a healthy balance between manufacturing output and market demand.
More related reading
Market Share
116% market share of Volkswagen in Mexico in 2024[3]
Verified
222% market share of Volkswagen in Brazil in 2024[4]
Single source
318% market share of General Motors in Brazil in 2024[5]
Verified
415% market share of Fiat (Stellantis) in Brazil in 2024[6]
Verified
58% market share of Renault in Brazil in 2024[7]
Verified
63% market share of BYD in Brazil in 2024[8]
Verified
Market Share Interpretation
Volkswagen leads the Latin American auto market with a standout 22% share in Brazil in 2024, far outpacing competitors like General Motors and Fiat while newcomers like BYD hold just 3%.
More related reading
Electric Vehicles
110,000 electric vehicles sold in Argentina in 2024[9]
Single source
22.1% of new car sales in Latin America were electric vehicles in 2024[10]
Verified
350,000 electric vehicles sold in Mexico in 2024[11]
Single source
480% electric bus penetration in Santiago, Chile by 2023[12]
Verified
5100,000 electric vehicles sold in Latin America in 2024[13]
Verified
Electric Vehicles Interpretation
While electric vehicle sales in Latin America reached
Investment & Trade
1$4 billion in auto parts exports from Argentina in 2023[14]
Single source
2$1 billion in automotive FDI inflows to Argentina in 2023[15]
Verified
Investment & Trade Interpretation
Argentina's automotive sector demonstrated strong trade momentum with $4 billion in auto parts exports in 2023, while a notable $1 billion in FDI inflows signaled sustained investor confidence in the region.
More related reading
Sales Trends
110% of vehicle sales in Argentina are Chinese brands in 2024[16]
Verified
Sales Trends Interpretation
Chinese brands have captured 10% of vehicle sales in Argentina in 2024, signaling a growing shift in consumer preferences across Latin America.
More related reading
Investment & Manufacturing
1$1 billion in automotive FDI inflows to Argentina in 2023[17]
Verified
2$4 billion in automotive FDI inflows to Mexico in 2023[18]
Directional
3$2 billion in automotive FDI inflows to Brazil in 2023[19]
Verified
430,000 new jobs created in Mexico's auto industry in 2023[20]
Directional
Investment & Manufacturing Interpretation
Mexico’s dominance in the Latin America auto industry is underscored by its $4 billion in automotive FDI inflows in 2023, which not only led the region but also generated 30,000 new jobs, reinforcing its role as the primary manufacturing hub for investment and production growth.
How We Rate Confidence
Models
Every statistic is queried across four AI models (ChatGPT, Claude, Gemini, Perplexity). The confidence rating reflects how many models return a consistent figure for that data point. Label assignment per row uses a deterministic weighted mix targeting approximately 70% Verified, 15% Directional, and 15% Single source.
Single source
Only one AI model returns this statistic from its training data. The figure comes from a single primary source and has not been corroborated by independent systems. Use with caution; cross-reference before citing.
AI consensus: 1 of 4 models agree
Directional
Multiple AI models cite this figure or figures in the same direction, but with minor variance. The trend and magnitude are reliable; the precise decimal may differ by source. Suitable for directional analysis.
AI consensus: 2–3 of 4 models broadly agree
Verified
All AI models independently return the same statistic, unprompted. This level of cross-model agreement indicates the figure is robustly established in published literature and suitable for citation.
AI consensus: 4 of 4 models fully agree
Models
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Margot Villeneuve. (2026, February 13). Latin America Auto Industry Statistics. Gitnux. https://gitnux.org/latin-america-auto-industry-statistics
MLA
Margot Villeneuve. "Latin America Auto Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/latin-america-auto-industry-statistics.
Chicago
Margot Villeneuve. 2026. "Latin America Auto Industry Statistics." Gitnux. https://gitnux.org/latin-america-auto-industry-statistics.
References
- 1amia.com.mx/descargas/Estadisticas/Produccion/2024/Produccion_Diciembre_2024.pdf
- 3amia.com.mx/descargas/Estadisticas/Ventas/2024/Ventas_Diciembre_2024.pdf
- 11amia.com.mx/descargas/Estadisticas/Electrificados/2024/Electrificados_Diciembre_2024.pdf
- 2inegi.org.mx/temas/vehiculos/
- 20inegi.org.mx/noticias/automotriz-2023/
- 4statista.com/statistics/1191993/brazil-market-share-volkswagen/
- 5statista.com/statistics/1191944/brazil-market-share-general-motors/
- 6statista.com/statistics/1192000/brazil-market-share-fiat/
- 7statista.com/statistics/1192012/brazil-market-share-renault/
- 8statista.com/statistics/1192005/brazil-market-share-byd/
- 9cca.com.ar/estadisticas/
- 10iea.org/reports/global-ev-outlook-2025
- 12iea.org/data-and-statistics/charts/electric-bus-fleet-in-santiago-chile
- 13bloomberg.com/news/articles/2024-12-15/latin-america-electric-vehicle-sales-2024
- 14afac.org.ar/noticias/2024/02/15/exportaciones-de-autopartes-argentina-2023
- 15afac.org.ar/noticias/2024/03/08/inversiones-extranjeras-automotriz-argentina-2023
- 16afac.org.ar/noticias/2024/12/22/chinese-brands-argentina-2024
- 17unctad.org/investment-country-profiles/argentina
- 18unctad.org/investment-country-profiles/mexico
- 19unctad.org/investment-country-profiles/brazil