While challenges linger in some markets, South America's automotive industry is shifting into high gear, with surging production figures in Brazil and Argentina fueling a regional rebound and bold investments electrifying its future.
Key Takeaways
- In 2023, Brazil's automotive production reached 2.37 million vehicles, marking a 12.5% increase from 2022
- Argentina produced 508,000 vehicles in 2023, up 44.2% year-over-year due to export recovery
- Colombia's auto production hit 178,000 units in 2023, with a focus on light trucks
- South American light vehicle sales totaled 4.1 million units in 2023, with Brazil accounting for 78%
- Brazil sold 2.33 million vehicles in 2023, up 8.5% from 2022
- Argentina's vehicle sales reached 490,000 units in 2023, recovering 50%
- Brazil exported 850,000 vehicles in 2023, valued at USD 15 billion
- Argentina exported 400,000 vehicles in 2023 to Brazil mainly
- Colombia's vehicle exports reached 120,000 units in 2023
- Automotive industry in Brazil employs 1.3 million people directly and indirectly in 2023
- Argentina's auto sector generated 150,000 direct jobs in 2023, up 10%
- Colombia employs 120,000 in automotive manufacturing in 2023
- South America's FDI in auto reached USD 5 billion in 2023
- Brazil attracted USD 3.2 billion auto investments in 2023
- Argentina received USD 1 billion for EV plants in 2023
South America's automotive industry rebounded significantly in 2023, led by Brazil and recovering exports.
Employment Data
- Automotive industry in Brazil employs 1.3 million people directly and indirectly in 2023
- Argentina's auto sector generated 150,000 direct jobs in 2023, up 10%
- Colombia employs 120,000 in automotive manufacturing in 2023
- Peru's industry supports 50,000 jobs in 2023
- Chile's automotive workforce is 80,000 strong in 2023
- Brazil added 25,000 jobs in auto production in 2023
- Argentina's parts sector employs 200,000 indirectly in 2023
- South America's total auto jobs exceed 2.5 million in 2023
- Colombia's training programs reached 10,000 workers in 2023
- Brazil's female participation in auto industry is 25% in 2023
- Chile invested USD 500 million in workforce training 2023
- Peru's informal auto jobs are 70% of total 40,000 in 2023
- Argentina laid off 5,000 auto workers in early 2023
- Brazil's supplier chain employs 800,000 in 2023
- Ecuador's auto jobs total 20,000 in 2023
- Uruguay employs 12,000 in vehicle assembly 2023
- Bolivia's sector jobs are 15,000 mostly repair 2023
- Venezuela lost 50,000 auto jobs since 2019 to 2023
Employment Data Interpretation
While Brazil is the undeniable engine, employing armies and struggling toward equity, and Argentina plays a dangerous game of hiring sprees and sudden layoffs, the rest of the continent reveals a patchwork of formal ambition, informal reality, and tragic collapse, all held together by a stubborn hope that two and a half million paychecks can somehow pave the road ahead.
Export Data
- Brazil exported 850,000 vehicles in 2023, valued at USD 15 billion
- Argentina exported 400,000 vehicles in 2023 to Brazil mainly
- Colombia's vehicle exports reached 120,000 units in 2023
- Peru exported 8,000 vehicles in 2023, mostly to Andean countries
- Chile exported 25,000 vehicles in 2023, focused on mining trucks
- Brazil's auto parts exports were USD 12 billion in 2023
- Argentina's exports to Mercosur were 350,000 units in 2023
- Colombia exported 50,000 CKD kits in 2023
- South America's total vehicle exports grew 15% to 1.6 million units in 2023
- Brazil's top export market was Argentina with 300,000 units in 2023
- Peru's auto exports to Bolivia were 5,000 units in 2023
- Chile exported USD 2 billion in auto parts in 2023
- Ecuador's exports were 10,000 units to Peru in 2023
- Uruguay exported 4,000 vehicles regionally in 2023
- Venezuela's negligible exports were 500 units in 2023
- Brazil's Q1 2024 exports hit 200,000 vehicles
- Argentina's export value reached USD 8 billion in 2023
- Colombia's exports to Mexico grew 20% in 2023
- South America imported 1.2 million vehicles in 2023
- Brazil imported 120,000 vehicles in 2023, mostly luxury
- Chile imported 380,000 vehicles in 2023
Export Data Interpretation
Brazil is the continent's auto behemoth exporting its might, Argentina dutifully supplies its giant neighbor, Colombia cleverly ships kits alongside finished cars, Chile profits from the ground up with mining gear and parts, and the rest of the region trades in a spirited, if lopsided, tango where everyone ultimately looks to Brazil to lead.
Investment Data
- South America's FDI in auto reached USD 5 billion in 2023
- Brazil attracted USD 3.2 billion auto investments in 2023
- Argentina received USD 1 billion for EV plants in 2023
- Colombia's auto FDI was USD 400 million in 2023
- Chile invested USD 800 million in battery production 2023
- Peru's mining truck investments hit USD 200 million 2023
- Brazil's Stellantis plant expansion USD 500 million 2023
- Volkswagen Argentina USD 350 million investment 2023
- Renault Colombia USD 100 million for new models 2023
- South America's EV investment totaled USD 2.5 billion 2023
- Brazil's government incentives USD 1 billion for autos 2023
- Chile's lithium-auto supply chain USD 300 million 2023
- Ecuador attracted USD 50 million Chinese auto investment 2023
- Uruguay's battery gigafactory plan USD 200 million 2023
- Peru's Toyota expansion USD 150 million 2023
Investment Data Interpretation
South America is quietly shifting gears, with Brazil driving the bulk of a $5 billion global vote of confidence in its auto industry, as the continent cleverly uses its lithium to charge a $2.5 billion electric future while still firmly investing in the trucks and models that move its economy today.
Production Volumes
- In 2023, Brazil's automotive production reached 2.37 million vehicles, marking a 12.5% increase from 2022
- Argentina produced 508,000 vehicles in 2023, up 44.2% year-over-year due to export recovery
- Colombia's auto production hit 178,000 units in 2023, with a focus on light trucks
- In 2022, South America's total vehicle production was 3.8 million units, led by Brazil at 62%
- Peru manufactured 25,400 vehicles in 2023, primarily commercial vehicles for mining
- Chile's production stood at 45,000 units in 2023, with emphasis on electric vehicle assembly
- Venezuela produced only 12,000 vehicles in 2023 amid economic challenges, down 20%
- Ecuador assembled 18,500 vehicles in 2023, mostly imported CKD kits
- Uruguay's production was 9,800 units in 2023, focused on pickups
- Bolivia produced 4,200 vehicles in 2023, mainly for local taxi fleets
- In Q1 2024, Brazil's production surged to 620,000 vehicles
- Argentina's January 2024 production was 45,000 units, up 25%
- South America produced 950,000 vehicles in H1 2023
- Brazil's light vehicle production in 2023 was 2.1 million units
- Heavy vehicle production in Argentina reached 55,000 in 2023
- Colombia's SUV production grew 15% to 45,000 units in 2023
- Peru's bus production was 2,500 units in 2023
- Chile assembled 12,000 electric vehicles in 2023
- Brazil's engine production hit 2.5 million units in 2023
- Argentina's auto parts production value was USD 10 billion in 2023
- Colombia produced 120,000 car engines in 2023
- South America's total production capacity utilization was 75% in 2023
- Brazil's 2023 tractor production was 45,000 units
- Paraguay assembled 3,500 vehicles in 2023
- Guyana's small-scale production was 500 units in 2023
- Suriname produced 200 vehicles in 2023
- French Guiana assembled 150 units in 2023
- Brazil's motorcycle production reached 1.2 million in 2023
- Argentina's two-wheeler production was 400,000 units in 2023
- Colombia's bike production hit 500,000 in 2023
Production Volumes Interpretation
While Brazil roars ahead as the region's undisputed engine room, Argentina's export-fueled sprint and Colombia's truck-heavy focus show a continent shifting gears, yet the stalled production in Venezuela and the scattered, niche outputs elsewhere paint a picture of an industry still very much in need of a full tune-up.
Sales Figures
- South American light vehicle sales totaled 4.1 million units in 2023, with Brazil accounting for 78%
- Brazil sold 2.33 million vehicles in 2023, up 8.5% from 2022
- Argentina's vehicle sales reached 490,000 units in 2023, recovering 50%
- Colombia sold 480,000 vehicles in 2023, led by SUVs at 35%
- Peru's auto sales were 120,000 units in 2023
- Chile sold 410,000 vehicles in 2023, with imports dominating 90%
- Venezuela's sales plummeted to 15,000 units in 2023
- Ecuador sold 145,000 vehicles in 2023
- Uruguay's market was 45,000 units in 2023
- Bolivia sold 28,000 vehicles in 2023
- Brazil's January 2024 sales hit 208,000 units
- Argentina sold 38,000 vehicles in Q1 2024, up 30%
- Colombia's SUV sales were 170,000 in 2023
- Peru's pickup sales reached 25,000 in 2023
- Chile's EV sales grew to 15,000 units in 2023, 4% market share
- Brazil's used car sales were 7.5 million in 2023
- Argentina's commercial vehicle sales hit 120,000 in 2023
- Colombia sold 90,000 pickups in 2023
- South America's total sales growth was 10.2% in 2023
- Brazil's passenger car sales were 1.8 million in 2023
- Paraguay sold 12,000 vehicles in 2023
Sales Figures Interpretation
The South American auto market in 2023 was a classic case of Brazil carrying the show with 78% of sales, while the supporting cast—from Chile's import-dependent stage to Venezuela's tragicomic plunge—performed their regional solos with varying degrees of recovery and niche preferences.
Sources & References
- Reference 1ANFAVEAanfavea.com.brVisit source
- Reference 2ACARAacara.org.arVisit source
- Reference 3ANADCOanadco.org.coVisit source
- Reference 4OICAoica.netVisit source
- Reference 5PRODUCEproduce.gob.peVisit source
- Reference 6ANACanac.clVisit source
- Reference 7CAVEIAUTOcaveiauto.comVisit source
- Reference 8AEAaea.org.ecVisit source
- Reference 9ACAUacau.org.uyVisit source
- Reference 10ANABanab.org.boVisit source
- Reference 11ADEAFAadeafa.com.arVisit source
- Reference 12STATISTAstatista.comVisit source
- Reference 13FENABRAVEfenabrave.com.brVisit source
- Reference 14AFAafa.org.arVisit source
- Reference 15ANDEMOSandemos.orgVisit source
- Reference 16ASAPasap.org.peVisit source
- Reference 17GOBgob.clVisit source
- Reference 18SINDIPEÇASsindipeças.org.brVisit source
- Reference 19IAIAiaia.org.arVisit source
- Reference 20ACPOacpo.com.coVisit source
- Reference 21OLADEolade.orgVisit source
- Reference 22ABIMAQabimaq.org.brVisit source
- Reference 23CAPAVEcapave.org.pyVisit source
- Reference 24GUYANACHRONICLEguyanachronicle.comVisit source
- Reference 25SRANANsranan.comVisit source
- Reference 26INAina.frVisit source
- Reference 27ABRACOMOTOabracomoto.com.brVisit source
- Reference 28CAMACOPcamacop.org.arVisit source
- Reference 29ANAManam.coVisit source
- Reference 30APDAapda.org.peVisit source
- Reference 31FAVENAPfavenap.org.veVisit source
- Reference 32AAPaap.org.peVisit source
- Reference 33TTtt.clVisit source
- Reference 34DIANdian.gov.coVisit source
- Reference 35MDICmdic.gov.brVisit source
- Reference 36COMEXPERUcomexperu.org.peVisit source
- Reference 37PROCHILEprochile.gob.clVisit source
- Reference 38PROECUADORproecuador.gob.ecVisit source
- Reference 39URUGUAYXXIuruguayxxi.gub.uyVisit source
- Reference 40MPPTmppt.gob.veVisit source
- Reference 41INDECindec.gob.arVisit source
- Reference 42MINCITmincit.gov.coVisit source
- Reference 43SENAsena.edu.coVisit source
- Reference 44SENCEsence.clVisit source
- Reference 45MTPEmtpe.gob.peVisit source
- Reference 46SMURFITsmurfit.com.arVisit source
- Reference 47FIERNfiern.org.brVisit source
- Reference 48TRABAJOtrabajo.gob.ecVisit source
- Reference 49MTEMmtem.gub.uyVisit source
- Reference 50MINTRABAJOmintrabajo.gob.boVisit source
- Reference 51FEDENAGAfedenaga.orgVisit source
- Reference 52CEPALcepal.orgVisit source
- Reference 53GOVgov.brVisit source
- Reference 54ARGENTINAargentina.gob.arVisit source
- Reference 55PROCOLOMBIAprocolombia.coVisit source
- Reference 56CORFOcorfo.clVisit source
- Reference 57PROINVERSIONproinversion.gob.peVisit source
- Reference 58STELLANTISstellantis.com.brVisit source
- Reference 59VWvw.com.arVisit source
- Reference 60RENAULTrenault.com.coVisit source
- Reference 61IDBidb.orgVisit source
- Reference 62ZONAFRANCICAzonafrancica.orgVisit source
- Reference 63TOYOTAtoyota.com.peVisit source