South America Passenger Cars Market Size & Share Analysis - Industry Research Report - Growth Trends

 Analysis of the South American Passenger Car Market

According to projections, the South American passenger car market will see a CAGR of -2.66%.

Largest Segment by Fuel Type - Petrol: Due to its widespread availability and ease of maintenance due to its traditional fuel type, since the area lacks charging infrastructure, the petrol variation accounts for over 83% of sales in the passenger car segment.

FCEV: Around 5,200 battery electric vehicles were present in South America in 2021, making it the segment with the fastest rate of growth by fuel type. With government support in the form of incentives and laws, the number of battery electric vehicles is rising quickly.

The ICE engine type has the biggest market share since it is conventional and has easy access to fuel. The majority of the South American passenger automobile market is made up of ICE, which is fueled by petrol in about 84% of cases.

Argentina has the largest segment by country. Brazil sold more than 1.5 million passenger cars in 2021. Due to South America's enormous population, Brazil has the greatest market for passenger cars.

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