The ownership of road motor vehicles in Argentina showed a general upward trend from 2013 to 2023. Starting at 500.39 units per thousand persons in 2013, it peaked at 557.49 units per thousand persons in 2022. The most notable decline occurred in 2016 with a decrease of 7.91%. However, ownership saw steady increases in recent years, standing at 560.85 units per thousand persons in 2023.
Year-on-year variations in the last two years:
- 2022: 0.62%
- 2023: 0.6%
The compound annual growth rate (CAGR) over the last five years (2019-2023) was 0.4%, indicating modest growth.
Looking ahead, the forecast data suggests continued growth in vehicle ownership, reaching 576.68 units per thousand persons by 2028 with a five-year CAGR of 0.44% and an overall growth rate of 2.22% from 2024 to 2028.
Future trends to watch for include technological advancements in automotive manufacturing, possible shifts towards electric vehicles, and economic factors such as inflation or changes in government policy. The impact of urbanization and infrastructure development will also be crucial in shaping vehicle ownership trends in Argentina.
