Sales Set To Nearly Double By 2015

New car and light truck sales in Chile increased 32% year-on-year (y-o-y), to 168,409 units, in H111, according to the National Automotive Association of Chile (ANAC). While much of this growth is owing to the low base effects from February 2010's earthquake, BMI believes that the strength of private consumption domestically cannot be ignored. We have accordingly revised up our 2011 vehicle sales growth forecast from 12% to 13%. During the remainder of the forecast period, we believe sales growth will average 8% y-o-y, taking new vehicles in 2015 to 450,500 units - almost double the levels seen in

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