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Small Cars - Chile

Chile
  • Revenue in the Small Cars market is projected to reach US$798m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.09%, resulting in a projected market volume of US$802m by 2029.
  • Small Cars market unit sales are expected to reach 48.6k vehicles in 2029.
  • The volume weighted average price of Small Cars market in 2024 is expected to amount to US$16k.
  • From an international perspective it is shown that the most revenue will be generated China (US$13bn in 2024).

The Small Cars Market segment includes economy passenger cars of an average footprint around 3.7m2 (40 ft2), an average mass around 1200kg (2680lbs) and a passenger/cargo volume between 2.4 m3 and 2.8 m3 (85 ft3 and 99 ft3). All key figures shown represent the sales of new small cars in the basic configuration in the respective year. Used vehicles are not taken into account, nor is adapted equipment for the new cars sold. The prices and revenues shown as well as the distribution of connectivity, drive types, autonomy levels, and average CO2 emissions are accordingly based on the basic models.

  • European Car Segment: B (Small Cars)
  • US Car Segment: Subcompact Cars
  • Chinese Car Segment: Category A
  • Also known as: Light Cars, Superminis

Example models: Citroën C3, Ford Fiesta, Hyundai i30, Kia e-Soul, Lancia Ypsilon, Mazda 2, Nissan Note, Opel Corsa, Peugeot 208, Renault Clio, Seat Ibiza, Škoda Fabia, Suziki Swift, Toyota Yaris, Volkswagen Polo.

In-Scope

  • Economy passenger cars - Small Cars

Out-Of-Scope

  • Small SUVs
  • Sports models
Small Cars: market data & analysis - Cover

Market Insights report

Small Cars: market data & analysis

Study Details

    Unit Sales

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Analyst Opinion

    The Small Cars market in Chile has seen significant growth in recent years, driven by various factors such as changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Small Cars market in Chile have shifted towards more compact and fuel-efficient vehicles.

    This can be attributed to rising fuel prices and increased awareness of environmental concerns. Consumers are now looking for smaller cars that offer good fuel economy and lower emissions. Additionally, the growing urban population and limited parking spaces in cities have also contributed to the preference for small cars, as they are easier to maneuver and park in congested areas.

    Trends in the Small Cars market in Chile include the introduction of electric and hybrid models. As the government and consumers become more conscious of the environmental impact of traditional gasoline-powered vehicles, there has been a growing demand for electric and hybrid cars. This trend is expected to continue as the government implements policies and incentives to promote the adoption of electric vehicles.

    Another trend in the market is the increasing availability of advanced safety features in small cars. With the rising importance of safety among consumers, car manufacturers are incorporating advanced technologies such as collision avoidance systems, lane departure warning, and adaptive cruise control in their small car models. This trend is driven by the desire to provide consumers with safer and more secure driving experiences.

    Local special circumstances in Chile, such as high import tariffs and taxes on larger vehicles, have also contributed to the growth of the Small Cars market. These policies make small cars more affordable and attractive to consumers, leading to increased sales and market share for small car manufacturers. Underlying macroeconomic factors, such as a stable economy and increasing disposable income, have played a significant role in the growth of the Small Cars market in Chile.

    As the economy improves and consumers have more purchasing power, they are more likely to invest in a new car. The affordability and fuel efficiency of small cars make them an attractive option for consumers looking to upgrade their vehicles. In conclusion, the Small Cars market in Chile is experiencing growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

    The shift towards more compact and fuel-efficient vehicles, the introduction of electric and hybrid models, the availability of advanced safety features, and favorable import tariffs and taxes have all contributed to the growth of the market. With a stable economy and increasing disposable income, the Small Cars market in Chile is expected to continue growing in the coming years.

    Technical Specifications

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: Level 0: No automation and very limited driver assistance in the form of automatic emergency braking or blind-spot warning. Level 1: Driver assistance such as cruise control or lane centering. Level 2: Partial automation, including brake and steering support. Level 3: Conditional automation in which the vehicle can perform most driving tasks. In certain scenarios, human intervention is still needed.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Price

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Methodology

    Data coverage:

    The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

    Modeling approach:

    Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

    Additional notes:

    The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).

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