Latin America Carsharing Market Research Report: Forecast (2026-2032)

Latin America Carsharing Market Key Takeaways

• The Latin America carsharing market size 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.
• The industry is projected to grow at a steady CAGR of 5.16% during 2026-2032.
• Brazil holds the largest share of about 28% in 2026.
• By model, peer-to-peer holds a significant share of about 62% in 2026.
• By vehicle type, SUVs seized a significant share of about 45% in 2026.
• The industry is moderately fragmented. However, the top five players collectively account for nearly 45% share.

Latin America Carsharing Market Size and Outlook

The carsharing market size in Latin America 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. Along with this, the market is estimated to grow at a CAGR of around 5.16% during the forecast period, i.e., 2026-32.

The demand for car sharing in Latin America is gaining momentum as urban consumers increasingly seek flexible, app-based alternatives to private vehicle ownership. Demand is supported by congestion, rising ownership costs, smartphone adoption, and growing acceptance of shared mobility. Policy initiatives such as Brazil’s MOVER program, which promotes automotive decarbonization and technological development, further support market development. 

Future opportunities lie in electric car-sharing fleets, digital platforms, fleet optimization, and integration with urban mobility networks. Brazil, Chile, Argentina, and Colombia offer particularly attractive opportunities. Over the long term, increasing urbanization, electrification, and digitalization are expected to strengthen car sharing as a complementary mobility solution.

Latin America Carsharing Market Key Indicators

• Ford Argentina’s partnership with MyKeego demonstrates the growing adoption of digital car-sharing models in Latin America. Launched as a fully digital service, Ford Go enables users to reserve and access shared vehicles through an application, supported by 24/7 parking locations. The partnership illustrates increasing collaboration between automakers and mobility startups to establish technology-enabled shared-vehicle services, supporting the expansion of car-sharing infrastructure and consumer accessibility in Argentina.
• Brazil's charging infrastructure is expanding alongside electric vehicle adoption, improving the feasibility of electric car-sharing operations. By May 2026, Brazil had 25,429 public and semi-public charging points, up 20.7% from 21,060 in February 2026. The plug-in EV fleet reached 505,806 vehicles, equivalent to approximately 19.9 vehicles per charging point. Continued charging-network expansion reduces a major operational barrier to deploying EVs in shared fleets.
• Uber’s Q4 2025 results demonstrate the rapid normalization of app-based, on-demand mobility. Uber recorded 202 million monthly active platform consumers, while quarterly trips increased 22% year-on-year to 3.75 billion and gross bookings reached USD 54.1 billion. This widespread use of digital mobility platforms familiarizes consumers with app-based vehicle access, payments, and location services, creating favorable conditions for car-sharing adoption in Latin America.

Latin America Carsharing Market Scope

Latin America Carsharing Market Growth Drivers

Rising Cost of Private Vehicle Ownership Drives Car-Sharing Adoption in Latin America

The high cost of private vehicle ownership is a major growth driver for the Latin America carsharing market, particularly in Brazil, the region’s largest automotive market. Vehicle ownership involves not only the purchase price but also fuel, insurance, taxes, maintenance, financing, and depreciation. Brazil’s insurance regulator, SUSEP, explicitly identifies fuel, IPVA, insurance, maintenance, inspections, and financing payments as recurring costs that must be considered when purchasing a car.

The financial burden is substantial. In 2026, maintaining a popular passenger car in Brazil was estimated at approximately USD 220–365 per month, including fuel, insurance, IPVA, maintenance, and depreciation. In addition, entry-level new vehicles in Brazil increasingly cost more than approximately USD 22,000, making initial ownership more expensive for consumers.

This creates a favorable value proposition for car-sharing: consumers can pay only when they need a vehicle rather than continuously paying ownership-related expenses. The opportunity is particularly relevant for occasional urban drivers who may otherwise leave a privately owned vehicle unused for long periods. Consequently, increasing ownership costs are encouraging consumers in major Latin American cities to consider shared vehicles as a more flexible and cost-efficient mobility option.

Recent Trends

Increasing Shift Toward EV-Based Car-Sharing Fleets

Electrification is emerging as a key trend in the Latin America carsharing market as the region’s electric-vehicle ecosystem expanded sharply during 2025–2026. According to the IEA’s Global EV Outlook 2026, electric-car sales in Latin America exceeded 350,000 units in 2025, increasing 75% year over year, with Brazil and Mexico accounting for more than 75% of the region’s sales growth. Plug-in hybrid vehicles represented almost 50% of Latin American electric-car sales in 2025.

Brazil is particularly relevant to car sharing because it is the region’s largest automotive market and is rapidly expanding its domestic EV supply. In August 2026, BYD reported that its Brazilian plant was expected to produce approximately 180,000 vehicles during 2026, while the company recorded 23,465 Brazilian vehicle sales in July 2026, equivalent to a 9.1% market share.

The growing availability of EVs gives car-sharing operators a larger pool of vehicles suitable for fleet electrification. This is particularly attractive for shared fleets because vehicles can accumulate substantial mileage, allowing operators to benefit from potentially lower energy and maintenance costs. Consequently, rapid EV sales growth and increasing local EV production are making electric vehicles increasingly viable for Latin American car-sharing fleets, particularly in Brazil.

Latin America Carsharing Market Opportunities and Challenges

Competition from Public Transportation Creates Opportunities for Integrated Multimodal Carsharing Services

Public transportation is a key challenge for the Latin America carsharing industry, as established bus, metro, and rail networks provide affordable mobility for daily commuting. In major cities, consumers may prefer public transport for routine journeys, limiting the addressable market for shared cars. This competitive pressure, however, creates an opportunity for carsharing operators to complement public transportation rather than compete directly with it.

A study focused specifically on São Paulo, Brazil, found that carsharing can promote integration with public-transport systems and identified the strategic location of carsharing stations according to potential transport demand as an important factor for successful implementation.

The study also identified potential partnerships between carsharing services and commercial establishments in São Paulo, supporting the development of strategically positioned shared-vehicle networks. This creates opportunities for operators to locate vehicles near metro and bus corridors, commercial areas, and other high-demand mobility nodes, allowing public-transport users to access cars when fixed-route services are less convenient.

Such an approach can expand carsharing beyond daily commuting into first-/last-mile travel, weekend trips, family journeys, and occasional point-to-point mobility, improving fleet utilization and broadening the customer base. Therefore, integration with existing public transportation can transform competitive pressure into a growth opportunity for Latin America's carsharing market.

Segmentation Insights

Peer-to-Peer Model Leads with Nearly 60% Revenue Share

Peer-to-Peer car sharing is estimated to account for nearly 60% of Latin America carsharing revenue in 2026, making it the leading business model. Its dominance is supported by the ability to expand vehicle availability without requiring operators to purchase and maintain large fleets. P2P platforms connect private vehicle owners with customers through digital marketplaces, enabling owners to generate income from underutilized vehicles while renters gain access to cars at flexible durations and prices.

This model is particularly attractive in Latin America, where the high cost of vehicle ownership creates incentives for owners to monetize vehicles that remain unused for significant periods. The model is also gaining traction through platforms such as TripWip, which raised USD 4.2 million in July 2026 to expand its P2P marketplace across Latin America, including planned expansion into Mendoza and Bariloche in Argentina. This combination of asset-light expansion, additional income for vehicle owners, and flexible access for users supports P2P's leading position in the regional market. Based on service model, the scope has been segmented into

• Free-Floating
• Station-Based
• Peer-to-Peer

SUVs Lead with Approximately 45% Revenue Share

SUVs are estimated to account for approximately 45% of Latin America’s car sharing market revenue, making them the leading vehicle type. Their dominance is supported by strong consumer preference for larger, more versatile vehicles across major markets such as Brazil, Argentina, Chile, and Colombia. SUVs offer greater passenger capacity, luggage space, ground clearance, and comfort than hatchbacks and sedans, making them suitable for both daily urban mobility and longer leisure trips.

Their higher average rental value also contributes to stronger revenue generation per booking. For example, in Brazil, SUVs have gained substantial popularity as consumers increasingly favor vehicles that combine passenger comfort with versatility for urban and intercity travel. The expansion of compact and mid-size SUV models has further improved their availability for shared-mobility fleets. In addition, SUVs can generate higher revenue through longer-duration bookings and premium pricing, reinforcing their leading position in the Latin American car sharing market. Based on vehicle type, the market is categorized into

• Hatchback
• Sedan
• SUV

Latin America Carsharing Market Geographical Outlook

Brazil is projected to account for around 28% of the Latin America carsharing industry in 2026, supported by its large urban population, high vehicle concentration, and growing preference for shared and app-based mobility. São Paulo is a major contributor, with the state recording 35.3 million vehicles in 2025, representing 27.4% of Brazil’s national vehicle fleet, creating substantial potential for flexible alternatives to private car ownership.

The country is also experiencing rapid electrification, with 223,912 electrified vehicles sold in 2025, up 26% year-on-year. In São Paulo, vehicles with electric charging capability reached 59,354 units by September 2025, up from only 4,307 in 2019. Rising congestion, digital mobility adoption, and increasing availability of cleaner vehicles are therefore strengthening Brazil’s position as Latin America’s leading carsharing market.

Latin America Carsharing Market Competitive Analysis

The Latin America car-sharing market is moderately fragmented, with the top five players collectively accounting for approximately 45% of the market, led by Turbi Participações Ltda., KINTO Mobility S.A., TripWip S.A.S., MyKeego S.A.S., and Equirent S.A.S.

Major Companies in Latin America Carsharing Industry

• Turbi Participações Ltda.
• TripWip S.A.S.
• MyKeego S.A.S.
• Equirent S.A.S.
• Joycar Tecnologia e Mobilidade Ltda.
• Rentennials S.A.S.
• KINTO Mobility S.A.
• A3 Electric Mobility SpA
• Others

Latin America Carsharing Industry News and Recent Developments:

2026: TripWip Expands Its Peer-to-Peer Car-Sharing Platform

TripWip raised USD 4.2 million in seed funding on July 14, 2026, to expand its peer-to-peer car-sharing marketplace across Latin America. The company plans to enter Mendoza and Bariloche in Argentina, alongside Monterrey and Los Cabos in Mexico, while investing in technology and artificial intelligence to support its expansion.

Impact Analysis: The funding strengthens TripWip’s ability to scale its peer-to-peer car-sharing marketplace across Latin America. Expansion into Mendoza and Bariloche can increase vehicle availability and customer reach in Argentina, while planned entry into Mexican cities broadens its regional footprint. Investment in artificial intelligence can improve vehicle matching, demand forecasting, pricing, and platform efficiency, supporting higher utilization and strengthening TripWip’s competitive position.

2025: Turbi Secures USD 27 Million for Fleet Expansion

Brazilian car-sharing and digital rental company Turbi secured BRL 156 million, approximately USD 27 million, in financing in October 2025. The funding was backed by Itaú and is intended to support fleet expansion and reduce leverage. The development demonstrates increasing access to institutional financing for Brazil's expanding app-based vehicle-sharing ecosystem.

Impact Analysis: Turbi’s USD 27 million financing provides additional capital for fleet expansion while reducing financial leverage. A larger vehicle fleet can increase availability across Brazilian urban markets, enabling Turbi to serve more customers and capture additional car-sharing demand. The financing also demonstrates institutional investor confidence in Brazil’s digital vehicle-sharing model, potentially improving access to capital for other operators seeking to scale.