| Market Research A to Z | Company Profiles A to Z | Register | Contact Us |
| +44 (0) 203 086 8600 Call us on |
Chile Autos Report 2010
Market |
Automotive and Parts |
Report Type |
Market Research |
Country |
Chile |
Published |
10 November 2009 |
Number of Pages |
41 |
Download |
|
Immediate |
|
Publisher |
Business Monitor International |
BMI has adjusted its five-year forecast for new car sales in Chile to reflect the impact of the global economic crisis. As we illustrate in the latest Chile Automotives Report for 2009, new vehicle sales fell sharply in Q408 leading us to predict a downturn and challenging year for sales in 2009.
According to data from the Chilean automotive industry association Anac, sales of new passenger cars and light commercial vehicles fell by 29.4% in the final quarter of 2008 as a direct result of the economic crisis. Full-year vehicle sales were up, however, by 5.3% against sales reported in 2007 to 239,835 units.
With the pace of growth in the new vehicle market dramatically slowing in 2008, BMI is forecasting a downturn in 2009 of between 5.5% and 6.0% before the market begins to correct itself from 2010.
Although carmakers operating in Chile are facing a tough year in 2009, industry developments already underway point to the underlying strength of the automotive market. For example, Cam, the electric car subsidiary of Spanish company Endesa, is set to launch the Indian electric car Reva in the Chilean capital of Santiago. It is hoped the vehicle will help solve the city’s pollution problem. Reva vehicle - named the City Car Reva - claims to run entirely on electric energy, with the capacity to reach a maximum speed of 80 kilometres an hour. In the first year of its sales, Cam will be looking to sell at least 60 vehicles tagged with a price of CLP6mn (US$13,000).
Moreover, foreign carmakers, namely from China continue to see opportunities for growth in the Chilean market. As a result of the FTA signed in 2005, Chinese manufacturers shipped 12,000 cars in the first half of 2008 that mainly comprised of vehicle brands such as Changan, Chery, Great Wall, Hafei, Lifan and Donfeng. Of these, Chinese carmaker Chery sold 1,824 vehicles in Chile and gained a market share of almost 1.4% in H108. The auto manufacturer exported 81,211 units of domestically produced vehicles in the first half of 2008, raising its exports by 57.3% y-o-y in the market that comprised almost 40.7% of its total sales. In terms of the value of total Chinese exports to Chile, it reached US$80.17mn.
Last Viewed
Chile Autos Report 2010Savory Snacks in Sweden
Software Publishing in the US
Confectionery in Mexico
Savory Snacks in Brazil
Automotive and Parts Company Profiles
Automotive and Parts Company Profiles contain up to date financial, strategic, operational, SWOT analysis and product information on the activities of thousands of automotive and parts companies.
Become an Affiliate
Do you manage an industry specific website or blog? Are you looking to monetise your web traffic further? Are you a B2B website?
Why not offer your visitors industry specific strategic market reports and company profiles? Our Affiliate Program enables you to provide quality content on your website and to earn money from passing on visitors to our website. If a sale is made from your visitor, you earn commission (a fixed percentage of the price of a product).
Custom Research
Cannot find what you need? We can tailor a report for you. Complete the Custom Research Form and we will provide a quote.
