BMI Confident Of Private Demand-Driven Growth

New vehicle sales in Chile grew a robust 47.7% year-on-year (y-o-y), to 80,907 units, in Q111, according to estimates from the country's automotive association ANAC. Although much of the Q111 growth was attributed to the low base effect from February 2010's earthquake, BMI believes that the strength of private consumption will help the autos market to shift nearly 325,000 units this year, up a significant 12% compared with 2010. During our core forecast period to 2015, we expect annual sales grow to average 8% y-o-y, with sales reaching 441,000 units in 2015. This growth rate continues to place Chile alongside

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