All-Round Support For Autos Growth

Peru is showing signs of becoming one of the most promising auto growth markets in Latin America, thanks to impending regulations, free trade agreements with major markets and low vehicle ownership levels. Vehicle demand is also being supported by a favourable consumer profile and the improved availability of vehicle financing, which helped new car sales grow a robust 24% year-on-year (y-o-y), to 136,048 units, 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%, to 180,072 units.

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