The ownership of passenger cars in Chile has shown a steady upward trend from 2013 to 2023, with the value standing at 210.39 Units per Thousand Persons in 2023. The year-on-year variations from 2013 to 2023 have fluctuated, with some notable dips, particularly in 2020, which saw a negative growth of -2.57%. However, subsequent years continued to recover, exhibiting slower but positive growth.
The Compound Annual Growth Rate (CAGR) over the past five years indicates a deceleration, displaying an average yearly growth rate of 1.46%. The trend before 2020 was stronger, with higher growth rates averaging around 4-7% per year.
Looking ahead, the forecasted data from 2024 to 2028 suggests a continued rise in car ownership, but at a more modest pace. The forecasted 5-year CAGR stands at 1.35%, with a projected overall growth of 6.94% by 2028.
Future trends to watch for include the impact of economic conditions, government policies on vehicle emissions, and the adoption rate of electric vehicles. Growing urbanization and improvements in public transportation infrastructure might also influence passenger car ownership patterns.
