Cars and trucks: which vehicles Argentines choose based on age

The automobile market in Argentina accounts for around 400,000 sales per year according to car manufacturers’ projections for 2022. More than half of the buyers of these units, which includes cars and trucks, they are over 41 years old. Baby boomers (aged between 55 and 75) are the ones who buy the most 0 km, but what about the rest of the age groups.

The Association of Dealers of the Argentine Republic (ACARA) has produced a report in which it reveals who buys cars in Argentina and which models they choose based on age.

More than half of car and truck buyers are over 41, representing 52.7% of all customers in the industry.

Of that percentage, the Baby Boomers (those people who are now between 54 and 73 years old) are those who buy more 0 km, they represent 28.5%, and Generation X, which is between 42 and 53 years old, accounts for 24.4%.

Those under the age of 42, on the other hand, do not reach 22%. The new generations entering the market represent only 4% of current buyers and are those of Generation Z (under 28 years or less) and Millennials, between 29 and 42 years, who represent 17.8%.

What are the most popular car models?

The model chosen by car buyers also has its segmentation. Well then, the most popular format chosen by all ages is the Hatchback (also called 5 doors). And it is also the model most chosen by young people.

SUVs (truck type) are more chosen at a family level, almost like sedans (which have a larger trunk) “which are maintained thanks to vehicles such as the Cronos, which has been the best seller for months”. In any case, their share is low in all segments and is less than 28% “., indicated by the ACARA report.

The natural cycle of life itself indicates that older generations should gradually give way to newer ones in the new vehicle market. Indeed, so-called baby boomers are handing over some of their dominance to millennials and Z, however, the truth is that they are still the largest vehicle buyers in Argentina.

Over the past 11 years, baby boomers have gone from representing nearly 40% of the market to less than 30% today. Generation X remains around 25% of the market and Millennials are growing, rising from 10% in 2010 to 20% today, while Generation Z gradually enters the market as they age and can buy a car. Today they are just under 5%.

What the latest ACARA data for May say

According to the latest report from the Association of Automobile Dealers of the Argentine Republic (ACARA), 35,092 vehicles were patented in the local market in May, a volume representing a year-over-year increase of 53%, since in the same month last year 22,931 units were registered.

Comparing the numbers of May with those of the previous April (31,923 registrations), we can observe an increase in sales at km 0 of 9.9%.

As for the accumulated in the first five months of this year, it is 174,257 patented vehicles, 1% more than in the same period of 2021, when 172,497 units were sold.

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