Market Opportunities for Automotive Aftermarket in South America: Colombia, Argentina, Chile & Peru (September 2023)

152 pages. The automotive industry is one of the focus industries of MRC’s market access exploration for Malaysian rubber product manufacturers and exporters. This report intends to capture the supply chain and distribution of rubber automotive aftermarket parts in South America focusing on Colombia, Argentina, Chile and Peru in three segments which are passenger vehicles, commercial vehicles and two-wheel vehicles. The South American passenger car market was valued at USD 129.1 billion in 2021. It is projected to grow at a CAGR of 4.6% during the forecast period 2022-2027 reaching USD 161.7 billion by 2027. The South American passenger car market is gradually recovering after most of the countries were severely affected by currency devaluation, economic crisis, and Covid-19. Argentina offers vast opportunities for manufacturers and distributors of automotive parts and components due to market growth and low regulatory set up. Meanwhile, Colombia, Chile, and Peru are also experiencing significant growth and increasing popularity in the realm of e-commerce. To capitalize on these opportunities and assist the industry in tapping into the emerging markets, MRC has commissioned a study to identify the potential buyers of rubber parts in the automotive aftermarket segment. This report also highlights the digitalization aspect that is evolving into new channel models, which provides an alternative platform to penetrate the automotive aftermarket in the targeted countries. Lastly, the study also provides insights into the marketing channels available for Malaysian exporters to connect with importers and distributors in the targeted markets.