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While there are 68 vehicle brands in the Chilean market, only 5 brands compose 40% of the light vehicle market (Susuki, Hyundai, Chevrolet, Kia and Nissan). The SUV were the top sellers in Chile during 2018 with 34% of the market share. In this segment, Jeep was the top seller brand.
Market trends in the passenger vehicle sector tend toward smaller, lighter vehicles to increase fuel efficiency. Also, 4x4 type of vehicles are very popular due to the diverse geography and types of roads.
Current Market Trends
Aftermarket Summary
Market trends in the passenger vehicle sector tend toward smaller, lighter vehicles to increase fuel efficiency, especially given the fuel costs associated with climbing winding streets in the Andes mountain region. However, in areas with more rugged climates outside of Santiago, 4x4 vehicles are especially popular due to the diverse geography and types of roads.
Transantiago, the public transport system of the capital, is also moving to expand the proportion of electric buses in its fleet, although the bidding necessary to materialize such project is still ongoing. While the contract details of this project remain pending, there is a tangible public interest in this and similar initiatives in Santiago and in various other parts of the country. Tendering Processes: Public Transport Operation and Fleet Supply www.dtpm.cl/descargas/cevias2018/181227%20-%20Modelo%20Licitaciones%20Ingl%C3%A9s.pdf
Best Prospects for U.S. Exports
Electric Drive Vehicles Market
One of the potential areas for growth in the auto sector is in the sale of electric vehicles. Although Chile currently has just over 437 electric vehicles on the road, that number was only six in 2011. “Energía 2050”, a long-term energy plan that mandates that Chile adopt "the highest international standards of energy efficiency for road, air, rail and maritime transport,” is partially behind this uptick. The plan intends to capitalize on use of electricity and hydrogen as energy
sources for public and private transit to meet this goal. The goal for 2050 is to have 40% of hybrid and electric vehicles circulating in Chile and 100% of public transportation to be electric. Seven brands currently offer electric vehicles in Chile, with the Hyundai Ioniq being the highest-selling model in
market trends