Latin America vehicle fleet market

                                                                                                                      Photo: Tom Fisk

By AJ Irving, July 2024

In Latin America, the light vehicle fleet industry is mainly represented by the five largest markets of Brazil, Mexico, Colombia, Argentina, and Chile. Considering a total of 149 million vehicles and an overall population of 468 million in these countries, there is an average of one vehicle per three people in the region.

While the best-selling brand in Brazil is Fiat (led by Fiat Strada in 2023), topping the charts in the other countries are Nissan in Mexico (led by Nissan Versa), Renault in Colombia (led by Renault Duster), Fiat in Argentina (led by Fiat Cronos), and Toyota in Chile (led by Toyota Hilux).

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As for new vehicle sales, approximately 4.2 million units were registered in the five countries in 2023, just under 1% of the region’s overall fleet.

Brazil and Mexico lead in terms of manufacturing with 18 brands being produced. Argentina is the only other manufacturer with 11 brands.

Vehicle Factories in Latin America (June 2024)