Consumer Strength And Government Support Raise Vehicle Demand

A favourable consumer profile and improved availability of vehicle financing helped new car sales in Peru grow by a robust 24% year-on-year (y-o-y) between January and November 2011, according to estimates from the Peruvian Association of Automotive Representatives (Araper). In 2012 we expect continued consumer confidence, the government's expansionary fiscal stance and its attempts to renewal the national vehicle fleet to help sales grow by an impressive 22%. Meanwhile, the current low levels of vehicle ownership (36 cars per thousand people) and the impact of the emerging auto financing market will drive growth of nearly 14% y-o-y a year for the rest of our forecast period, to 2016.

To read the full article, please choose one of the following options: