Peru's automotive sector closed 2019 with the best performance among Pacific Alliance countries, with a 2.4% growth in vehicle sales, the privately-run Peruvian Automotive Association (AAP) reported on Tuesday.
Colombia ranked second with 1.7% growth, while Mexico and Chile registered declines of -7.7% and -10.6%, respectively.
Within this framework,
AAP expressed that —at the end of 2019—
light vehicle sales in Peru reached nearly 152,000 units, a 2.4% rise compared to 2018.
"The factors, which encouraged this positive behavior, were the reduction of
Selective Consumption Tax to certain segment of vehicles. The improvement in various economic indicators since the second half of 2019 included: employment, revenue, and consumer confidence —which drive private consumption— encouraged the acquisition of these transport vehicles," Peru's Automotive Association explained.
According to Economic Studies Manager at AAP Alberto Morisaki, despite light vehicles' greater growth in Peru —compared to those of other Pacific Alliance peers— the Inca country is below the rest of countries from the bloc when reviewing the motorization indexes.
"In Peru, only 5 vehicles were acquired per each 1,000 inhabitants in 2019, while Colombia reported 6 vehicles acquired per each 1,000 inhabitants, Chile registered 20, and Mexico scored 10," he remarked.
Within this framework, Morisaki said that despite the greater mobilization needs and Peruvian economy's good performance, the acquisition of new light vehicles in the country is low.