2014-01-09 07:53:02 - Peru Autos Report Q1 2014 - a new market research report on companiesandmarkets.com
Analysts have become significantly less optimistic on the medium-term outlook for Peruvian new vehicle sales over the past 12 months. We are now forecasting growth of 32.7% (down from 58% previously) over the 2014-17 period. This will see total new vehicle sales rise to 287,343 units by 2017, made up of 211,551 passenger cars and 75,793 commercial vehicles.
Looking at the most recent new vehicle sales data as this report was being compiled (covering the January- October 2013), we can see that Peru has seen a slowing down in growth from the rapid 27% witnessed in 2012. Indeed, as of end-October 2013, year-to-date vehicle sales were up by 8%, at 168,122, according to figures from the Peruvian Association of Automotive Representatives
(Araper). For the full year, analysts are forecasting growth of 9%, to reach 207,952 units.
Looking forward, analysts adopt a slightly more cautious stance on the near-term outlook for new vehicle sales, targeting growth of just 4.1% in 2014, before gaining ground to 9.3% in 2015.
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