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Chile 2020. Vehicle market plummeted again 72% due to lockdown extension

Chilean Vehicles Market in May fell sharply down again – matching the April’s trend – as lockdown measures were further extended due to an exponential growth of Covid-19 cases in recent months. Indeed, in May sales dropped 72% with 8.673 units sold, leading Year to Date sales to 93.772 (-30.7%).  Chilean Vehicles Market in MayThe impact of the Coronavirus has been great in Chile. As of 21 June 2020, the Country has the third-largest number of cases in South America and in Latin America, after Brazil and Peru. Since the number of new cases have exponentially rose in the last two months, lockdown and business closures were further extended, largely hitting the vehicle market. Indeed, in May the Chilean vehicles market reported a 72% drop with 8.673 units sold, leading Year to Date sales to 93.772 (-30.7%).Brand-wise, the market leader Chevrolet managed to somewhat “resist”, losing 60.2% and signing the best Top 20 performance. Kia ranks second in the Year-to-date ranking, despite the large loss in May.Post Covid19 Market TrendAs a response to the spread of the Coronavirus, a 90-day state of catastrophe was announced in the Country on March 18, followed by a national night-time curfew on March 22 and complete lockdowns in many communes.As a result, the Q1 fell down 19% with 76.206 units sold. In April, auto sales crumbled 72.7% with 8.893.Medium Terms Market TrendChilean Vehicles Market hit a record in 2013 when sales reached 378.000 units, before to rapidly decline, hit by the economic crisis, at 282.232 in 2014, when the decline ended and a new positive cycle started. Sales grew up for four years arriving over the milestone of the 0.4 million units in 2018, when a new all-time record was hit at 417.354 units.During 2019, the economic and social environment deteriorated and the domestic light vehicles market was hit, closing the full year down in double-digits at 73.277 units.In the first two months of 2020, as reported by the local Association of Car Manufacturers, the market was following the previous year’s negative trend. Indeed, year-to-date February sales were 57.057, down 10.9%.Tables with sales figuresIn the tables below we report sales for all Brands and top 10 Manufacturers Group.This content is for members only. Visit the site and log in/register to read.

Paul Tudor Jones: A magical moment in a great documentary
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The documentary is a fascinating and brief slice in the work life of Paul Tudor Jones, one of America’s all time great macro traders. There’s this one moment that really stands out to me, where Jones, after losing about 5% of his portfolio in a single terrible trading day (at that time, ~$6M dollars), says […]

11 Maintenance Tips To Keep Your Car In Great Condition
Tuesday November 03, 2020

For most people, purchasing a car is a major decision as a new car can end up costing as much as $40,000! Anyone shelling out such a significant amount would want their vehicle to perform optimally for as long as possible. Unlike a smartphone, upgrading a car within a short period of time is neither […]

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