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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.

Brazil. Vehicle market KO in May (-75.8%)
Wednesday June 10, 2020

Brazil Vehicles Market was almost frozen in May, as the vast majority of car dealers were closed due to a worsening health crisis. Indeed, registrations in May stopped at 56.663 sales (-75.8%), leading Year to Date figures to 640.950 (-25.3%).Brazilian Vehicles Market in MayBrazil is close to becoming the new global centre of the Covid-19 […]

Startup advice that’s too good not to share: “More than one benefit is a negative”
Sunday July 12, 2020

Advice from the legendary Andy Rachleff (Wealthfront, Benchmark) on how to find product market fit: Savor surprisesLook for the good and double down on itStealth doesn’t matterDon’t evaluate your growth hypothesis until you confirm your value hypothesisThe best ideas can come from the most unlikely team membersWord of mouth trumps promotionSlowing decay can be more […]

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