From 2013 to 2023, the ownership of passenger cars in Argentina saw fluctuations, with the value in units per thousand persons standing at 350.0 in 2023. The highest ownership value was in 2015 at 380.76 units per thousand persons, followed by notable declines in 2016 and 2020, with a significant drop in 2020 by 17.39% year-on-year. The average variation per year over the last five years (CAGR) leading up to 2023 was -0.27%.
Looking forward to the forecasted period from 2024 to 2028, the ownership is expected to experience a gradual decline with a forecasted 5-year CAGR of -0.11%, translating to an overall growth rate of -0.53%. The value for 2028 is projected to be 346.37 units per thousand persons.
Future trends to watch for include the impact of economic stability, government policies promoting electric vehicles, and the influence of new mobility solutions like ride-sharing and car-sharing services on car ownership trends in Argentina.
