|
|
Chile Autos Report 2010Published by: Business Monitor International Published: Nov. 10, 2009 - 41 Pages Table of Contents
AbstractBMI has adjusted its five-year forecast for new car sales in Chile to reflect the impact of the globaleconomic crisis. As we illustrate in the latest Chile Automotives Report for 2009, new vehicle sales fellsharply in Q408 leading us to predict a downturn and challenging year for sales in 2009.According to data from the Chilean automotive industry association Anac, sales of new passenger carsand light commercial vehicles fell by 29.4% in the final quarter of 2008 as a direct result of the economiccrisis. Full-year vehicle sales were up, however, by 5.3% against sales reported in 2007 to 239,835 units.With the pace of growth in the new vehicle market dramatically slowing in 2008, BMI is forecasting adownturn in 2009 of between 5.5% and 6.0% before the market begins to correct itself from 2010. Although carmakers operating in Chile are facing a tough year in 2009, industry developments alreadyunderway point to the underlying strength of the automotive market. For example, Cam, the electric carsubsidiary of Spanish company Endesa, is set to launch the Indian electric car Reva in the Chilean capitalof Santiago. It is hoped the vehicle will help solve the city’s pollution problem. Reva vehicle - named theCity Car Reva - claims to run entirely on electric energy, with the capacity to reach a maximum speed of80 kilometres an hour. In the first year of its sales, Cam will be looking to sell at least 60 vehicles taggedwith a price of CLP6mn (US$13,000). Moreover, foreign carmakers, namely from China continue to see opportunities for growth in the Chileanmarket. As a result of the FTA signed in 2005, Chinese manufacturers shipped 12,000 cars in the first halfof 2008 that mainly comprised of vehicle brands such as Changan, Chery, Great Wall, Hafei, Lifan andDonfeng. Of these, Chinese carmaker Chery sold 1,824 vehicles in Chile and gained a market share ofalmost 1.4% in H108. The auto manufacturer exported 81,211 units of domestically produced vehicles inthe first half of 2008, raising its exports by 57.3% y-o-y in the market that comprised almost 40.7% of itstotal sales. In terms of the value of total Chinese exports to Chile, it reached US$80.17mn. Get Full Details About This Report >> |
|
|||
|
About MarketResearch.com
|
||||