Peruvian cars market hit a record again. In 2022 the light vehicles market in Peru scored a surprisingly new all time record again, with sales at 159.270 (+1.6%)
Market Trend
Following the previous year record, in 2022 the light vehicles market in Peru scored a surprisingly new all time record again, with sales at 159.270 (+1.6%) although the economic and social environment was almost unstable.
Indeed, Peru’s economy slowed down for the second month in a row, missing forecasts for the last months of 2022 and economic growth lands at 2.68%, a sharp decline from the 13.61% jump the country – historically one Latin America’s fastest-growing economies – recorded in 2021.
The four-wheeler growth was lead by Toyota which in the entire year sold 33.001 vehicles (+1.7%) with 20.7% of market share.
In second place Hyundai reported a moderate decline with 15.613 sales (-3.0%) and share stable at 9.8%), while Kia was third with 14.545 sales (+20.9%).
Behind, Chevrolet reported a short lost (-4.5%) and is under attack by DFSK (+44.0%).
In 6th place Changan (-0.3%) followed by Nissan (-29.0%), Suzuki (-5.0%), Chery (+29.9%) and Volkswagen (-13.0%).
Medium-Term Market Trend
The market has been growing consistently in the decade 2004-2013 hitting a record of 174,495 sales before being frozen by economic recession and decline for three consecutive years reaching 153,876 sales in 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), they held a flat trend. Indeed, Full-year registrations have been 151,658 (+0.2%).
Due to the COVID-19 pandemic sales fell in 2020. In fact, 125,090 units have been sold, reporting a decline of 17.5% compared to 2019.
In 2021 sales started growing once again, reporting 157,001 sales, a growth of 25.6%.
Tables with sales figures
In the tables below we report sales for top 10 Brands.
