Peru (AAP): New car registrations in 2019: 2.4% increase from the previous year
From Lima
January 16, 2020
Peru Automobile Association (AAP):
On January 7, 2019, it was announced that new vehicle registrations (Note) reached 151,997 units, an increase of 2.4% from the previous year.
January 8: Hestion newspaper
Automakers have cited “the amendment of the optional consumption tax (ISC) in June 2019″ as the reason for the turnaround (see the article on June 21, 2019).
With the amendment of the ISC, the consumption tax for vehicles with a cylinder capacity of 1,400 cubic centimeters or less has been reduced from 10% to 5%.
Since July, it has contributed to the sales recovery of models targeting volume zones.
Of course, this is also due to the increased use of loans at the time of purchase and increased public demand in the second half.
Car loans: low penetration
The utilization rate in Peru is still low, 35% of the total.
In the future, increasing the usage rate will be important in increasing the number of vehicles sold.
By manufacturer: Number of new cars registered: (see table)
The top three are Toyota, Hyundai, and Kia in the order of 2018.
Overall, Japanese cars performed well.
In particular, Nissan increased significantly by 30.4% year-on-year.
-JETRO
https://www.jetro.go.jp/biznews/2020/01/9d48c31b2c7ccd9e.html