Forecast: First Registrations of New Vehicles in Chile

Over the past decade, first registrations of new vehicles in Chile have demonstrated considerable volatility. From 2014 to 2018, there was a notable upward trend reflecting strong market growth. However, this was followed by a dip in 2019 and a significant drop in 2020, largely attributed to economic disruptions. A remarkable rebound occurred in 2021, resulting in substantial year-on-year growth. As of 2023, the registration value stood at 496.65 thousand, exhibiting steady stabilization with a 1.74% year-on-year increase.

Forecasted data from 2024 to 2028 indicate a continuous growth trajectory, with an anticipated CAGR of 3.96% and an overall growth rate of 21.44% over the five-year forecast period. This suggests a resilient market outlook driven by sustained economic recovery and potential increases in consumer demand.

Future trends to watch for:

• Impact of economic conditions on consumer purchasing power.
• Technological advancements in vehicle manufacturing and their adoption rate.
• Government policies on vehicle emissions and potential shifts towards electric vehicles.
• Influx of new vehicle models and brands entering the Chilean market.