Latin America and the Caribbean: Snow Motor Vehicle Market 2025

Snow Motor Vehicle Market Size in Latin America and the Caribbean

The Latin American snow motor vehicle market shrank modestly to $X in 2022, dropping by -2.1% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +99.7% against 2013 indices. Over the period under review, the market attained the maximum level at $X in 2021, and then fell slightly in the following year.

Snow Motor Vehicle Production in Latin America and the Caribbean

In value terms, snow motor vehicle production declined to $X in 2022 estimated in export price. Overall, production, however, saw a slight shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 15%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Snow Motor Vehicle Exports

Exports in Latin America and the Caribbean

In 2022, snow motor vehicle exports in Latin America and the Caribbean surged to X units, increasing by 78% on 2021. In general, exports, however, faced a sharp shrinkage. The growth pace was the most rapid in 2020 when exports increased by 456%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, snow motor vehicle exports reached $X in 2022. Overall, exports, however, showed a dramatic decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 316% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Peru was the major exporter of motor vehicles for travelling on snow or golf cars in Latin America and the Caribbean, with the volume of exports recording X units, which was near 40% of total exports in 2022. Mexico (X units) ranks second in terms of the total exports with a 15% share, followed by Chile (8.9%), Brazil (6.7%), the Dominican Republic (5.9%) and Panama (4.5%). Argentina (X units) held a relatively small share of total exports.

Exports from Peru increased at an average annual rate of +58.7% from 2012 to 2022. At the same time, Brazil (+62.5%), the Dominican Republic (+19.6%), Chile (+18.9%) and Argentina (+9.0%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +62.5% from 2012-2022. By contrast, Panama (-2.9%) and Mexico (-44.1%) illustrated a downward trend over the same period. While the share of Peru (+40 p.p.), Chile (+8.9 p.p.), Brazil (+6.7 p.p.), the Dominican Republic (+5.9 p.p.), Panama (+4.4 p.p.) and Argentina (+3.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (-84.1 p.p.) displayed negative dynamics.

In value terms, Chile ($X), Brazil ($X) and Peru ($X) were the countries with the highest levels of exports in 2022, with a combined 46% share of total exports.

Brazil, with a CAGR of +91.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, declining by -41.4% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The growth pace was the most rapid in 2019 when the export price increased by 90%. Over the period under review, the export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+17.6%), while the other leaders experienced mixed trends in the export price figures.

Snow Motor Vehicle Imports

Imports in Latin America and the Caribbean

In 2022, the amount of motor vehicles for travelling on snow or golf cars imported in Latin America and the Caribbean reduced markedly to X units, declining by -28.1% against 2021. Total imports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 137% against the previous year. As a result, imports attained the peak of X units, and then dropped remarkably in the following year.

In value terms, snow motor vehicle imports dropped to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.7% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 70%. As a result, imports attained the peak of $X, and then shrank slightly in the following year.

Imports by Country

Chile was the major importer of motor vehicles for travelling on snow or golf cars in Latin America and the Caribbean, with the volume of imports resulting at X units, which was near 49% of total imports in 2022. Mexico (X units) held the second position in the ranking, followed by the Dominican Republic (X units) and Ecuador (X units). All these countries together held near 21% share of total imports. The following importers - Bahamas (X units), Argentina (X units), Belize (X units), Jamaica (X units), Peru (X units) and Costa Rica (X units) - together made up 18% of total imports.

Imports into Chile increased at an average annual rate of +7.0% from 2012 to 2022. At the same time, the Dominican Republic (+13.0%), Jamaica (+12.1%), Ecuador (+10.5%), Belize (+9.8%) and Argentina (+8.4%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +13.0% from 2012-2022. By contrast, Bahamas (-2.7%), Costa Rica (-5.1%), Mexico (-8.3%) and Peru (-13.0%) illustrated a downward trend over the same period. While the share of Chile (+21 p.p.), the Dominican Republic (+3.6 p.p.), Ecuador (+3.1 p.p.), Argentina (+2.1 p.p.), Belize (+1.7 p.p.) and Jamaica (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bahamas (-2 p.p.), Costa Rica (-2 p.p.), Peru (-8.2 p.p.) and Mexico (-17.6 p.p.) displayed negative dynamics.

In value terms, the largest snow motor vehicle importing markets in Latin America and the Caribbean were Chile ($X), Mexico ($X) and the Dominican Republic ($X), with a combined 58% share of total imports.

The Dominican Republic, with a CAGR of +16.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, jumping by 37% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. Over the period under review, import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahamas ($X per unit), while Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+12.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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