Peru. In 2019 Nissan & Renault shone in a stable market

Fiji Cars market

Peruvian Cars market in 2019 held a stable trend. Indeed, Full-year registrations have been 151.658 (+0.2%). Toyota lost over 5 share points during the last decade, while, in 2019, Hyundai and Kia reported double-digit losses.

Economic Environment

Peruvian economic growth cooled somewhat in the fourth quarter of 2019, after accelerating in the third quarter on the back of both stronger public and private consumption amid sustained job creation and robust credit growth. In October-November, the expansion in economic activity slowed and the external sector continued to show weakness.

With one eye on this month’s election and in a bid to stimulate growth via public investment, the government approved an emergency decree at the end of December to extend the deadline for reducing the country’s fiscal deficit to 1.0% of GDP from 2021 to 2024.

Market Trend

Peruvian vehicles market growth consistently in the decade 2004-2013 hitting a record of 174.495 sales, before to be frozen by economic recession and decline for three consecutive years at the 153.876 scored in the 2016. However, in 2017 the market stabilized posting a feeble recovery, with 163.668 sales, up 6.4%. In 2018, the market has been quite unstable, closing with 147.803 sales, losing 9.7%.

In 2019, according to data released by the A.R.A.P.E.R. (Association of Peruvian Car Manufacturers), the held a flat trend. Indeed, Full-year registrations have been 151.658 (+0.2%).

Brand-wise, the leader Toyota lost over 5 share points during the last decade, ending the 2019 at 19.6%. However, the top followers, Hyundai and Kia, reported double-digit losses, closing respectively at 12.3% and 9.4%. Impressive performances scored by Nissan and Renault.

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