The Latin American light vehicle industry has been recovering from the COVID-19 pandemic. In 2024, the industry sold 5.2 million vehicles, representing a 7.9% year-over-year (YoY) growth. Although it has yet to reach the 2019 sales figure, it is expected to do so in 2025. This year, the region is expected to sell approximately 5.4 million units, which is 30.3K more units than in 2019.

Brazil led sales growth in 2024, with nearly 2.5 million units and a 14.1% YoY increase. Colombia came in second position, recording 189.6K units and 9.8% YoY growth. Meanwhile, Argentina, Chile, Ecuador, and Peru registered negative growth. Ecuador was the country with the largest sales decrease, experiencing a 19.5% YoY decline.

While Brazil is expected to grow by 6.5%, Mexico will likely decrease by 3.1%. Regarding the electrified vehicle space, hybrids and electric vehicles will continue expanding in the region, reaching about 682K units sold in 2025, a 50% YoY growth.

• How will the rising penetration of Chinese OEMs and the local production of hybrid and electric vehicles influence regional growth?
• How can your team grow by leveraging powertrain diversification along with the expansion of connected vehicles and advanced driver assistance systems?
• What are the rising OEM investments and transformative megatrends transforming the future of mobility in Latin America?