In Q1 2022 sales dropped 8.3% with 106,486 units sold. Indeed, Full-Year sales for 2021 have been 394,576, reporting a 16.4% increase compared to 2020. In Q3 sales remained almost flat, losing 0.2% sales with 95,186 units, and in Q4 sales fell just 1.2% with 91,206 units. In 2021 the year started positively for the Argentinian market, in fact, in Q1 116,170 units have been sold, reporting a 29.6% increase in sales compared to Q1 2020, and i n Q2 sales kept growing, reporting a 49.3% increase in sales with 92,014 units sold. In fact, 338,945 units have been sold, reporting a decline of 22.7%. Sales in 2020 were heavily influenced by the COVID-19 pandemic, impacting all sectors. However, in the last three years, the market has been disappointing, as sales dropped 11.5% in 2017, while in 2019 the huge economic crisis hardly hit the new vehicles demand and the market felt down during all the year ending with a final score below the half-million units, with the worst performance in the last 15 years. Indeed, in 2017 the market hit the second-best results ever, with 892,739 sales (+29.8%). The election of Macri’s government, while changed the economic policy, gave new expectations and then boost to the sector, which grew both in 20. Rapid expansion was driven by the implementation of the new National Automotive Plan, sponsored by the Prime Minister, called the One Million Plan, aiming to double sector employment in 5 years of booming export and domestic demand. The current record was established in 2013 with 923,000 sales before falling down to 630,000 in 2015 and start the recovery. In the last decades, the market surfed on waves with sudden falls followed by a sharp recovery.
Volkswagen reported the worst performance, losing 49.3%. In March 2022 the Argentinian market keeps dropping in single-digits after a 4% decrease the previous month, and reports 34,302 units sold (-6.3%), leading Year to Date sales at 106,486 units, a 8.3% decrease in sales compared to 2021.īrand-wise, the leader Toyota reports a 11.1% decrease in sales YTD while holding 19.5% market share, followed by Fiat -up 1 spot- which on the other hand gained 14.2%. In fact, 34,302 units have been sold in March (-6.3%), leading Year to Date sales at 106,486 units (-8.3%). As a more affordable option, the demand for used cars is on the rise.Argentinian auto market in March 2022 keeps falling in single-digits. Kavak has experienced an increase in online sales in recent months as more people look to source their own means of transport and maintain social distancing. They will also be making more personnel hires for the tech and marketing teams within their Mexico offices. The company aims to increase its catalogue of vehicles from 2 million to 20 million in the next 12 months. Kavak will also be growing its Mexico base with three new offices the country before the end of the year. The funding will expand operations, including hiring 300 new employees and creating a technology hub. Kavak estimates an investment of around $10M into the Argentine startup. Argentina is an exciting market in Mexico the sales of used cars generates around $60B, in Argentina it is around $20B,” said Carlos García, CEO of Kavak.
Philmotors mission is to provide a trusted and simple to use portal for car buy and sell needs in the Philippines.
The website currently holds more than 2951 vehicles, mainly used cars in the Philippines from car dealers nationwide. “International growth is of utmost importance for us. Philmotors is a leading web portal dedicated to the advertising of cars for sale in the Philippines. The startup will also expand operations into three more cities in Mexico. LatamList – Kavak, a used car marketplace, launched operations in Argentina through the acquisition of Checkars, a similar platform based in Buenos Aires.
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