Latin America Carsharing Market to Flourish at a CAGR of Around 5.16% During 2026-32

The Latin America carsharing market was valued at USD 101 million in 2025 and is projected to grow from USD 105 million in 2026 to USD 142 million by 2032, registering a CAGR of 5.16% during 2026–2032. The market is gaining momentum as consumers increasingly seek flexible, app-based alternatives to private vehicle ownership, supported by rising ownership costs, congestion, smartphone adoption, and growing acceptance of shared mobility.

Rising private vehicle ownership costs are strengthening the value proposition of car-sharing across the region. In Brazil, recurring ownership expenses include fuel, insurance, IPVA, maintenance, inspections, financing, and depreciation. In 2026, maintaining a popular passenger car was estimated at approximately USD 220–365 per month, while entry-level new vehicles increasingly cost more than USD 22,000. Consequently, pay-per-use mobility is becoming increasingly attractive.

By service model, peer-to-peer car-sharing leads with approximately 60% revenue share in 2026, supported by its asset-light structure and ability to monetize underutilized privately owned vehicles. The model is also benefiting from digital platforms, with TripWip raising USD 4.2 million in July 2026 to expand its peer-to-peer marketplace across Latin America. By vehicle type, SUVs account for approximately 45%, supported by their passenger capacity, versatility, comfort, and higher revenue potential.

Geographically, Brazil holds the largest share at approximately 28% in 2026, supported by its large urban vehicle base and expanding electrification ecosystem. São Paulo alone recorded 35.3 million vehicles in 2025, representing 27.4% of Brazil’s national vehicle fleet. Moreover, Brazil’s electrified vehicle sales reached 223,912 units in 2025. Consequently, urban mobility demand, digital adoption, and increasing availability of electrified vehicles reinforce Brazil’s position as the leading South American carsharing market. These trends are highlighted in the latest report, "Latin America Carsharing Market Analysis, 2026."

Latin America Carsharing Market Highlights

South America’s carsharing market was valued at USD 101 million in 2025 and is projected to reach USD 105 million in 2026, further expanding to USD 142 million by 2032.
The industry is projected to register a CAGR of 5.16% during 2026–2032, supported by rising private vehicle ownership costs, increasing smartphone adoption, growing acceptance of shared mobility, digital car-sharing platforms, and expanding electric-vehicle infrastructure.
Brazil holds the leading position with approximately 28% market share in 2026, supported by its large urban vehicle base, growing digital mobility adoption, and rapid electrification. São Paulo alone recorded 35.3 million vehicles in 2025, representing 27.4% of Brazil’s national vehicle fleet.
By service model, Peer-to-Peer (P2P) car sharing accounts for approximately 60% share in 2026, supported by its asset-light structure, flexible vehicle access, and ability to enable private vehicle owners to monetize underutilized vehicles.
By vehicle type, SUVs hold approximately 45% share in 2026, making them the leading category. Their dominance is supported by greater passenger capacity, luggage space, comfort, versatility, and higher revenue potential compared with hatchbacks and sedans.
The market remains moderately fragmented, with the top five players, including Turbi Participações Ltda., TripWip S.A.S., MyKeego S.A.S., Equirent S.A.S., and Joycar Tecnologia e Mobilidade Ltda., collectively accounting for approximately 45% share, reflecting increasing competition across digital car-sharing platforms and mobility services.

Latin America Carsharing Market Segmentation

By Vehicle Type
- Hatchback
- Sedan
- SUV
By Trip Type
- One-Way Trips
- Round Trips
By Propulsion Type
- Internal Combustion Engine (ICE)
- Hybrid Electric Vehicle (HEV)
- Battery Electric Vehicle (BEV)
By End User
- Individual Consumers
- Business & Corporate Users
- Government & Institutional Users
By Pricing Model
- Pay-as-You-Go
- Membership + Usage Fee
- Monthly Subscription/Prepaid Package
- Corporate Contract Pricing
By Service Model
- Free-Floating
- Station-Based
- Peer-to-Peer
By Country
- Brazil
- Argentina
- Chile
- Colombia
- Peru
- Ecuador
- Rest of Latin America