Features
3 Apr 24

Peru expects increase in car sales for 2024 

Peru's automotive sector expects an increase in sales of both light cars and heavy vehicles compared to the previous year.  

Automotive Association of Peru (AAP) forecasts a 2.1% rise in light vehicle sales, reaching 167,907 units by year-end, compared to 164,486 units sold in 2023. Additionally, there is an anticipated 1.7% increase in heavy vehicle sales, totaling 17,624 units in 2024, slightly surpassing the 17,326 units sold in the previous year, according to AAP. 

While car sales predominantly center around Lima, the capital city, with a market share of 62%, significant growth opportunities exist in other major urban centers across the country. These areas have witnessed advancements in commerce and infrastructure, indicating potential demand expansion beyond Lima, AAP reports. 

The report suggests that if car manufacturers opt to implement more aggressive decentralization strategies “they could find themselves with an interesting demand that would give them an additional positive push to their expected results” for 2024. 

SALES  

While growth is expected, the first two months of this year still showed a slight decline. Between January and February, Peru recorded sales of 31,033 units of light cars and heavy vehicles, slightly down from 31,555 units compared to the same period the previous year. 

Vans and all-terrain SUVs experienced growth, with sales increasing by 3.5% to 4,045 units and 1.1% to 13,385 units, respectively, based on AAP data. 

 

Top Ten best -selling car brands in Peru 

Points scored

 

Electric Vehicle (EV) Sales 

During the period between January and February, the sale of electric vehicles (EVs) surged by 3.1%, reaching 956 units, compared to 564 units sold during the corresponding period the previous year. 

Points scored

 

Authored by: Rodrigo Alonso