The Report Cube which is one of the leading market research company in UAE expects the Latin America Used Car Market to grow at a CAGR of around 4.62% through 2032, as highlighted in their latest research report. The study provides an in-depth analysis of the emerging trends shaping the Latin America Used Car Market and offers detailed forecasts for its potential growth during 2025–2032. The report also presents a comprehensive assessment of the competitive landscape, including profiles of leading players, their performance metrics, and recent strategic developments. Additionally, it explores the key market drivers, challenges, opportunities, and provides insights into historical and future revenue trends at the global, regional, and country levels.
Latin America Used Car Market Overview:
Market Size (2025): USD 67.21 billion
Market Size (2032): USD 92.21 billion
CAGR (2025–2032): 4.62%
Top Companies in Latin America Used Car Market: Latamautos Mexico, S. de RL de CV, Dalton Corporativo, AUTOCOM SEMINUEVOS, SAPI DE CV, Grupo Seminuevos Coapa, Zapata Corporation, S.A. de C.V., Toyota Motor Corporation, Car One SA.
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US LiDAR Industry Recent News and Developments:
2025:
Dalton Corporativo launched a regional used car subscription model
Zapata Corporation established a wide-ranging used car ecosystem with assimilated insurance & financing.
Chileautos SpA extended its digital marketplace with amplified reality vehicle inspection capabilities.
2024:
KAVAK introduced a wide-ranging pan-Latin American digital used car platform with an AI-powered vehicle assessment.
Toyota Motor Corporation launched a certified pre-owned vehicle program in multiple Latin American markets.
Key Growth Drivers of the Latin America Used Car Market:
Economic Affordability to Elevate the Industry Expansion
Economic affordability is the primary aspect impelling the Latin America Used Car Market. A high percentage of the populace finds purchasing a new car to be unaffordable, owing to constant economic concerns, such as income variation & exchange rate volatility. Also, used automobiles offer a cost-effective alternative, giving buyers dependable mobility at a substantially lower price than brand-new cars. Furthermore, the region’s complex economic environment, which is marked by irregular economic instability, makes more reasonably priced transit options even more appealing.
Latin America Used Car Market Segmentation
The Latin America automotive market is segmented by vehicle type, vendor type, fuel type, application, and country. By vehicle type, hatchbacks and SUVs dominate due to affordability and growing urban demand, while sedans maintain steady popularity. Based on vendor type, organized dealers hold the majority share, although unorganized sellers remain significant in certain regions. In terms of fuel, petrol vehicles lead the market, with diesel and electric vehicles showing gradual growth as consumers shift toward sustainability. By application, offline sales remain dominant, while online platforms are emerging rapidly. Regionally, Brazil is the largest market, followed by Argentina and Mexico, driven by rising disposable incomes and expanding automotive infrastructure.
- Market Share, By Vehicle Type
- Hatchbacks
- Sedan
- Sports Utility Vehicle (SUV)
- Others
- Market Share, By Vendor Type
- Organized
- Unorganized
- Market Share, By Fuel Type
- Diesel
- Petrol
- Electric
- Others
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- Market Share, By Application
- Offline
- Online
- Market Share, By Country
- Brazil
- Argentina
- Mexico
- Others
Note:
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About The Report Cube
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