Since 2013, the Maintenance and Repair of Motor Vehicles sector in Chile has shown a robust upward trend, with a few periods of deceleration. The sector's value stood at 999.95 billion Chilean Pesos in 2023, reflecting a significant expansion from 357.62 billion Chilean Pesos in 2013. However, the sector experienced some fluctuation, particularly in 2020 with a decline. The average annual growth rate (CAGR) for the sector over the last five years was 3.73%, indicating steady growth.

Recent performance highlights:

Year-on-year growth in 2022 was 9.24%.
Year-on-year growth in 2023 was 3.56%.
The forecast for the next five years suggests a CAGR of 2.62%, translating to a cumulative growth rate of 13.78% by 2028.

Future trends to watch:

Technological advancements in vehicle maintenance and repair methods.
The impact of economic conditions on consumer spending in the automotive sector.
The evolution of electric and hybrid vehicles and their maintenance needs.