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 by over 80% year-onyear (y-o-y) in 2008, defying the deepening global economic crisis. According to data from the Peruvian automotive industry association Araper, in 2008 new vehicle sales rose by 81.38% y-o-y to reach 92,539 units. Toyota 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 completed the top three with sales of 8,740 units and a 9.4% market share. Suzuki ranked as 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 last year 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.
BMI is forecasting sales of around 115,000 units for 2009. We believe that the Peruvian economy is relatively well-placed to withstand the ongoing 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 (GM) has announced plans to export Chinese-made mini-commercial vehicles to Peru. As part of GM's commercial vehicle joint venture with Chinese Shanghai Corporation (SAIC) and Wuling Automobile Co., GM (China) Investment Co. 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 holds a market share of 5%.
Report Table of Contents:
Executive Summary
SWOT Analysis
Peru Auto Industry SWOT
Peru Political SWOT Analysis
Peru Economic SWOT Analysis
Peru Business Environment SWOT Analysis
Latin America Regional Overview
Increasing Trade Links With China
Mutual Benefit
Sustainability In Question
Business Environment Ratings
Table: Latin America Autos Business Environment Ratings
Industry Forecast Scenario
Production And Sales
Table: Peru Autos Sector - Historical Data And Forecasts (CBUs Unless Otherwise Stated)
Macroeconomic Forecast Scenario
Table: Peru - Economic Activity
Competitive Landscape
Market Structure
Industry Developments
Company Monitor
Ford Motor South America Regional Overview
Ford Regional SWOT
Company Profiles
Toyota
DaimlerChrysler
Country Snapshot: Peru Demographic Data
Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown, 2005-2030
Section 2: Education And Healthcare
Table: Education, 2002-2005
Table: Vital Statistics, 2005-2030
Section 3: Labour Market And Spending Power
Table: Employment Indicators
Table: Consumer Expenditure, 2000-2012 (US$)
Table: Average Annual Manufacturing Wages, 2000-2012
BMI Methodology
How We Generate Our Industry Forecasts
Sources
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