New vehicle sales rose 1.4% in 2012, despite the negative forecasts. We expect that the favorable performance in key factors for car sales should lead to 357 thousand units being sold in 2013.
Credit conditions in the automobile market have been favorable in 2011 and will continue to be so in 2012, according to our interest rates and real exchange rate baseline scenario
Sales of new-vehicles will increase by 12.8% in 2011 with respect to 2010, and hit a new record of around 327,000 units.
Chevrolet and Hyundai continue to be the market leaders, but the gap is narrowing.
Credit conditions in the automobile market have been favorable in 2011 and will continue to be so in 2012.
In 2012, less favorable economic conditions and a higher base of comparison will lead to a slowdown in vehicle sales to 337,000 units.
2010 has been a very positive year for the automotive sector, with strong economic recovery, favorable credit conditions and low prices
2010 has been a very positive year for the automotive sector, with strong economic recovery, favorable credit conditions and low prices
Motor vehicle sales reached all-time highs, with an estimated total for the year of 275,000 units, while in 2011 the forecast is for a new record of 312,000 units.
Leading automakers have also increased their market share against those that are more vulnerable to exchange-rate fluctuations.
Some 38% of households have at least one vehicle, and most of these (85%) have only one.
1.9% of households make use of a car loan, making it the main source of finance within the credit system.
The automobile sector expanded rapidly in 2010 in response to strong domestic demand. Sales will continue to grow over the next two years at around 15% p.a.
Latin America Automobile Market Outlook. December 2010.
The automobile sector expanded rapidly in 2010 in response to strong domestic demand.
Sales will continue to grow over the next two years at around 15% p.a. The number of new vehicles sold should exceed 6.5 million in 2012.
The reasons for this rapid expansion include the strength of domestic demand (in particular, consumption), low finance costs, exchange rate appreciation and progress on tariff reductions related to trade agreements.
The region’s vehicle fleet is still small, even compared to countries with similar levels of development. This suggests that the expansive cycle will be maintained for a few more years.
Furthermore, growth in the region will result in a rapid increase in the relatively young middle class, and this will provide an additional impulse to automobile sales.
A slowdown in economic growth would temporarily moderate these sales forecasts, but the long-term trend will remain unchanged.
