Chile’s CV market continues to contract in 2024
By Jose Secco - 12th July 2024
Chile - The Chilean market faced another month of declining sales in May compared with 2023, as reported by the National Automotive Association of Chile (ANAC). A total of 1,067 commercial vehicles were sold, comprising 919 trucks and 148 buses, reflecting a notable decline from the previous year. Year-to-date, the market experienced an 18.2% drop, with 5,555 units sold compared to 6,792 units from January to May 2023.
According to ANAC, factors such as lower investments in durable goods, a sluggish recovery in the job market, and restrictions on credit availability have hindered the dynamism of the Chilean economy. These challenges have significantly impacted the development of productive sectors, including the automobile industry, resulting in a persistent decline in sales.
