| Market Research A to Z | Company Profiles A to Z | Register | Contact Us |
| +44 (0) 203 086 8600 Call us on |
Peru Autos Report 2010
Market |
Automotive and Parts |
Report Type |
Market Research |
Country |
Peru |
Published |
10 November 2009 |
Number of Pages |
35 |
Download |
|
Immediate |
|
Publisher |
Business Monitor International |
Peru’s new car market continues to post impressive levels of growth. As BMI highlights in the newly published Peru Automotives Report for 2009, new car sales in the country soared over 80% year-on-year (y-o-y) in 2008, defying the global economic crisis.
According to data from the Peruvian automotive industry association, Araper, new vehicle sales rose 81.38% y-o-y in 2008 to reach 92,539 units. Toyota Motor extended its lead on the market for another year, reporting sales of 23,182 units to take a market share of 25.1%. The Japanese carmaker was followed by Hyundai Motors, which sold 9,381 units, giving it a market share of 10.1%. Nissan Motor completed the top three with sales of 8,740 units and a 9.4% market share. Suzuki Motor ranked the fourth biggest carmaker by sales in country (7,664 units), followed by Chevrolet (4,626 units).
The strength of growth in the new car market in 2008 underlines how Peru’s autos sector has so far been relatively unscathed by the global economic crisis, and industry representatives are equally upbeat about new car sales in 2009, forecasting at least similar levels of growth. The report is forecasting sales of around 115,000 units for 2009. We believe that the Peruvian economy is relatively well-placed to withstand the continuing global financial and economic turmoil due to the government’s prudent debt management strategy and high level of international reserves, factors which should serve to sustain consumer confidence. Growth in the new car market over the last two years has been in part fuelled by strong levels of consumer confidence combined with an improvement in disposable income, an upturn in employment and a greater availability of credit.
In terms of company news, US automaker General Motors Company (GM) has announced plans to export Chinese-made mini-commercial vehicles to Peru. As part of GM’s commercial vehicle joint venture (JV) with Chinese Shanghai Corporation (SAIC) and Wuling Automobile, GM (China) Investment has begun to export its Chevrolet N200 minivans to Peru.
BMI expects the initiative to open up avenues for GM China’s low cost productions to enter the Latin American markets as well as further strengthen GM’s position in Peru, where it has a 5% market share.
Last Viewed
Peru Autos Report 2010Hotels & Motels in Japan
Savory Snacks in Chile
Organic Food in Europe
Asian - Mobile Operators
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.
