The Latin America auto industry connects manufacturing, jobs, and consumer choice across Mexico, Brazil, Argentina, and Chile. This page covers production levels and vehicle fleets, compares Volkswagen and other automakers through 2024 market share, and highlights the impact of parts exports and automotive FDI—especially for Argentina and Mexico. You’ll also see how electrification varies by country, from low EV car adoption to rapid uptake in Santiago’s buses.
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’s auto growth and electrification are accelerating as Volkswagen leads and electric sales rise across the region.
Related reading
01 · Category
Production & Sales2 stats
01
3.9 million vehicles produced in Mexico in 2024https://www.amia.com.mx/descargas/Estadisticas/Produccion/2024/Produccion_Diciembre_2024.pdf
02
12 million vehicles in operation in Mexico in 2023https://www.inegi.org.mx/temas/vehiculos/
Interpretation
Production & Sales Interpretation
Mexico’s auto production reached 3.9 million vehicles in 2024, and with 12 million vehicles already in operation by 2023, the Production and Sales outlook points to sustained market scale and ongoing demand rather than a short-lived production spike.
03 · Category
Electric Vehicles11 stats
01
10,000 electric vehicles sold in Argentina in 2024https://www.cca.com.ar/estadisticas/
02
2.1% of new car sales in Latin America were electric vehicles in 2024https://www.iea.org/reports/global-ev-outlook-2025
03
50,000 electric vehicles sold in Mexico in 2024https://www.amia.com.mx/descargas/Estadisticas/Electrificados/2024/Electrificados_Diciembre_2024.pdf
04
80% electric bus penetration in Santiago, Chile by 2023https://www.iea.org/data-and-statistics/charts/electric-bus-fleet-in-santiago-chile
05
100,000 electric vehicles sold in Latin America in 2024https://www.bloomberg.com/news/articles/2024-12-15/latin-america-electric-vehicle-sales-2024
06
2.1% of new car sales in Latin America were electric vehicles in 2024https://www.iea.org/data-and-statistics/data-product/global-ev-data-explorer
07
1.6% of new car sales in Mexico were electric vehicles in 2024https://www.iea.org/data-and-statistics/data-product/global-ev-data-explorer
08
3.4% of new car sales in Argentina were electric vehicles in 2024https://www.iea.org/data-and-statistics/data-product/global-ev-data-explorer
09
0.9% of new car sales in Brazil were electric vehicles in 2024https://www.iea.org/data-and-statistics/data-product/global-ev-data-explorer
10
2.8% of new car sales in Chile were electric vehicles in 2024https://www.iea.org/data-and-statistics/data-product/global-ev-data-explorer
11
0.6% of new car sales in Colombia were electric vehicles in 2024https://www.iea.org/data-and-statistics/data-product/global-ev-data-explorer
Interpretation
Electric Vehicles Interpretation
In 2024, electric vehicles were still just 2.1% of new car sales across Latin America, yet sales totaled about 100,000 vehicles regionwide and reached 10,000 in Argentina and 50,000 in Mexico, showing rapid growth from a low but expanding base.
More related reading
report visual · Comparison
Electric vehicles as a share of new car sales (2024) — Latin America & key countries
Argentina led electric-vehicle adoption among the listed markets in 2024, with a higher EV share of new car sales than Mexico, Chile, and the region overall, widening the gap versu
3.4% of new car sales in Argentina were electric vehicles in 20243.4%
2.8% of new car sales in Chile were electric vehicles in 20242.8%
2.1% of new car sales in Latin America were electric vehicles in 20242.1%
1.6% of new car sales in Mexico were electric vehicles in 20241.6%
0.9% of new car sales in Brazil were electric vehicles in 20240.9%
0.6% of new car sales in Colombia were electric vehicles in 20240.6%
source-verifiediea.org2024
04 · Category
Investment & Trade2 stats
01
$4 billion in auto parts exports from Argentina in 2023https://www.afac.org.ar/noticias/2024/02/15/exportaciones-de-autopartes-argentina-2023
02
$1 billion in automotive FDI inflows to Argentina in 2023https://www.afac.org.ar/noticias/2024/03/08/inversiones-extranjeras-automotriz-argentina-2023
Interpretation
Investment & Trade Interpretation
In 2023, Argentina’s investment and trade picture stood out as $1 billion in automotive FDI inflows helped underpin $4 billion in auto parts exports, suggesting stronger foreign investment is translating into measurable export capacity.
05 · Category
Sales Trends1 stats
01
10% of vehicle sales in Argentina are Chinese brands in 2024https://www.afac.org.ar/noticias/2024/12/22/chinese-brands-argentina-2024
Interpretation
Sales Trends Interpretation
In Argentina in 2024, Chinese brands account for 10% of vehicle sales, showing a clear and growing shift in regional sales trends toward nontraditional automakers.
06 · Category
Investment & Manufacturing4 stats
01
$1 billion in automotive FDI inflows to Argentina in 2023https://unctad.org/investment-country-profiles/argentina
02
$4 billion in automotive FDI inflows to Mexico in 2023https://unctad.org/investment-country-profiles/mexico
03
$2 billion in automotive FDI inflows to Brazil in 2023https://unctad.org/investment-country-profiles/brazil
04
30,000 new jobs created in Mexico's auto industry in 2023https://www.inegi.org.mx/noticias/automotriz-2023/
Interpretation
Investment & Manufacturing Interpretation
In 2023, automotive investment under the Investment and Manufacturing category surged across the region with FDI inflows of $4 billion into Mexico and $1 billion into Argentina, supported by Mexico’s creation of 30,000 new auto industry jobs.
Reference
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.
Sources & references
21 datasets cited across this report
+13 additional datasets cited (not shown individually)