Forecast: Vehicles in Use in Chile

The number of vehicles in use in Chile has shown a general upward trend from 2013 to 2023, rising from 4.01 million units to 5.41 million units. However, this growth has not been consistent, as seen in the notable drop in 2020, attributed to the impact of the COVID-19 pandemic. By 2021, the number recovered significantly, almost reaching pre-pandemic levels, with a year-on-year growth rate of 17.2%. The market then stabilized around a 2.2% annual growth into 2023.

Future trends indicate a continued but modest increase, with the number of vehicles expected to reach 6.0 million units by 2028, reflecting a forecasted 5-year CAGR of 1.69%. This suggests a slowing but steady growth in vehicle ownership in Chile over the next few years.

Trends to watch for:

• Transition to electric vehicles and how it will affect overall vehicle numbers.
• Economic factors influencing vehicle sales and ownership.
• Government policies on vehicle emissions and incentives for sustainable transport solutions.