Global Fleet Survey: Company car has 20% penetration in Latam
Despite Latin America being one of the hardest-hit regions by the COVID-19 pandemic, GDP is projected to grow 5.9% in 2021 and 2.5% in 2022 and the region continues to be an important part of the world's vehicle fleet and mobility market.
Company cars have a 20% penetration (car to staff ratio) in Latin America, according to data from the 2021 Global Fleet Survey. The data below was also acquired from the survey, of which focused more on the key countries of Brazil, Mexico, Argentina, and Chile.
It is interesting to note that the light commercial vehicle (LCV) market has already recovered from the impacts of the pandemic fallout, while sales of passenger cars remain some 20% below pre-pandemic 2019 levels for the four countries.
Like other regions of the world, vehicle production in Brazil and Mexico has been affected by the worldwide micro-chip shortage. This has resulted in lower mileage in fleet and delays on car deliveries, thus inducing contract extensions.
For more on fleet and mobility management benchmarking throughout the world, download our e-book about the 2021 Global Fleet Survey. It covers Europe, Africa-Middle East, Asia-Pacific, and North America, as well as Latin America.