Just Published: "In-Car Entertainment in Argentina"

Volume sales of in-car entertainment overall rose by 1% in 2015 after three years of sharp contraction, due to several factors. In 2015, retail volume sales of in-car speakers and in-dash media players increased by 7% and 3%, with navigation devices continuing with the downward trend of the last three years. Although the local industry is heavily dependent on imported inputs, availability of locally manufactured and low-priced imported products increased in the past year, helping supply the growth in demand during 2015. Demand of in-car entertainment products in Argentina is largely explained by the performance of new and used car sales, and particularly with carjacking, assault and robbery rates. During 2014, sales of cars plummeted after the government passed a sharp increase in taxes for cars (up to 50%) combined with an accumulated peso devaluation of 46% in the same year, and carjacking and robbery also continues to rise, according to CESVI.

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Competitive Landscape

In-car navigation is highly concentrated with only two brands accounting for over 70% of volume sales. Geosistemas led sales again in 2015 with its flagship brand Garmin holding a 63% volume share. The company has been leading sales since the emergence of this technology in the country, helped by the high brand awareness and international recognition. During 2014, with strengthened import barriers, the company lost four percentage points in retail volume share, whereas local manufacturer New San increased its share by three percentage points with its brands Noblex and Philco. In 2015 Geosistemas improved its share by two percentage points whilst its local competitor lost three percentage points.

Industry Prospects

Volume sales are expected to contract at a CAGR of -1% over the forecast period, with the main factors driving sales in 2015 expected to smooth out in the next year. The hike in the tax rate that severely affected new and used car sales in 2014 and 2015 is expected to be removed or lowered during the next administration, taking office in late 2015. Forecast performance has been revised upwards compared to previous editions to reflect the normalization of the factors that boosted sales in 2015. In-car speakers is expected to post the only positive retail volume CAGR (2%) during the forecast period; sales of these products are popular in Argentina in the lower- and middle-income segments. In-car navigation and in-dash media players are expected to each see a CAGR of -3% over the same period.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the In-Car Entertainment industry in Argentina with research from Euromonitor's team of in-country analysts.

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