Forecast: Value Added in Sale of Motor Vehicles Sector in Chile

The value added in the sale of motor vehicles sector in Chile has experienced significant fluctuations over the past decade. Starting from 809.61 billion Chilean Pesos in 2013, it saw a decline until 2015, followed by recovery in 2016. Notable increases occurred in 2017 and 2018, with a peak in 2022 at 1,025.4 billion. In 2023, this value stood at 1,040.3 billion Chilean Pesos.

Key year-on-year variations include:

• 2014: -6.63%
• 2015: -4.37%
• 2016: 7.88%
• 2017: 23.21%
• 2018: 2.41%, with a 5-year CAGR of 3.98%
• 2019: -0.54%, with a 5-year CAGR of 5.3%
• 2020: -15.65%, with a 5-year CAGR of 2.69%
• 2021: 16.25%, with a 5-year CAGR of 4.24%
• 2022: 6.85%, with a 5-year CAGR of 1.31%
• 2023: 1.46%, with a 5-year CAGR of 1.12%

Overall, the sector rebounded from downturns and is projected to grow moderately. By 2028, the forecasted 5-year CAGR is 1.16%, reflecting a cumulative growth rate of 5.91% from 2024 to 2028.

Future trends to watch for include the impact of electric vehicles, changes in consumer preferences towards sustainable options, and the potential economic effects of global oil price fluctuations and policy shifts in environmental regulations.