The share of passenger cars in total road motor vehicles in Argentina has declined steadily from 71.96% in 2013 to 62.18% in 2023. This represents a year-on-year decrease of approximately 0.82% from 2021 to 2022 and around 0.83% from 2022 to 2023. The forecasted data shows a continuing downward trend, reaching 59.43% by 2028, with a forecasted 5-year CAGR of -0.71% and an overall growth rate of -3.52% from 2024 to 2028. The average annual decrease over the last five years has been about 0.85%.

Future trends to watch for:

Growth in the adoption of alternative transportation modes, such as electric scooters and bicycles.
Increasing environmental regulations potentially accelerating the decline of traditional passenger cars.
Shifts in consumer behavior towards ride-sharing and car-sharing services.
Technological advancements in autonomous vehicles.
Potential economic factors influencing vehicle ownership patterns.