FTA Will Heat Up Competition Between Asian Carmakers

BMI expects increasing competition between Asian carmakers in Peru after the country's free trade agreement (FTA) with South Korea. Although Japanese majors Toyota Motors, Nissan Motor and Suzuki Motor hold considerable influence in Peru, BMI believes their dominance could soon be eclipsed by South Korea's Hyundai Motor and its sister firm Kia Motors, should a possible FTA between Peru and Japan be delayed further. Hyundai and Kia currently stand as the second and the third most popular carmakers in Peru.

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