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After a few years of economic downturn, the commercial vehicle sector in Latin America is once again standing strong. In 2017, almost 3 million vehicles (LCV, HDT and buses) were produced in Latin America* and the truck and bus market it predicted to keep growing with 7.1% between 2016 and 2023.
Technological advancements such as electrification and autonomous driving are expected to bring a change in the industry and new emission standards implicate that many vehicles will need to be replaced in the near future. Annual sales of commercial vehicles is therefore expected to top 200 000 units by 2023**.
Out of the three leading countries – Mexico, Brazil and Argentina –, Mexico has surpassed Brazil in vehicle manufacturing and with annual production figures of approx. 2 million LCVs and over 150 000 trucks and buses, it has become the 7th producer and 4th exporter worldwide of commercial vehicles.
The “2nd Latin America Commercial Vehicle Summit” will be held on 18 & 19 October 2018 in Mexico City. Organized by LNoppen, at this summit, senior officials and presidents from government bodies and industry associations, along with top level executives, technical and R&D directors and project leaders from major logistics companies, OEMS and parts manufacturers will be invited to discuss new development trends and policies, core R&D and manufacturing technologies as well as the end user’s demands and green freight solutions.
* source: OICA
** source: Frost & Sullivan