17 August 2010

The Peruvian Market: 2009

According to Wiki, The economy of Peru has a market-oriented economy with the 42nd largest in the world. Peru's economy has experienced significant growth in the last 15 years. It is considered an Emerging Market according to the MSCI due to political and macroeconomic stability, improved terms of trade, and rising investment and consumption .

I would have to say that the economy has been transformed over the last decade if car sales are an indicator. From 2001 to '03, vehicle sales were about 11-12,000. Then it took off and reached a peak of just over 90,000 in 2008, before slipping in '09 to about 75,000. Toyota is the most popular brand in Peru, usually 25-20% share. However, it took a hit in 2009 as the figures below show:

Brand Sales %
Toyota 16250 21.2
Hyundai 10000 12.8
Nissan 7750 10.1
Kia 6000 7.7
Suzuki 5500 7.1
Chervolet 4000 5.2
VW 3500 4.6
Mitsubishi 2800 3.7
Honda 1900 2.4
Mercedes 1150 1.5

Hyundai closed the gap on the leader, Toyota down 30% and Hyundai up 5%. Many Chinese brands now sell quite well in the country but none are yet in the top ten. It's hard to imagine a car market bouncing around like Peru's did in the 2000s, but emeging markets are more volatile than mature ones. 2010 seems like it will be another good year in Peru for car importers.

The bottom line: Probably the only English language blog that takes an interest in countries like Peru.

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