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8/28/13

Peru new vehicle sales say growth is slowing

New vehicle sales are one of the more useful indicators of any country's health. In the case of Peru, there has been a big surge in vehicle sales in the last two to three years on the back of the strong economic expansion and particularly the advent of access to easy credit for average José consumer. 

However, latest figures suggest that things are slowing down. First the raw numbers, with source the Peru motor vehicle chamber of commerce people, Araper.


The line points in the right direction of course, but more experienced chart-gazers out there have probably already picked up on the trend change of the last 12 months or so. To make it easier to spot, here's a chart derived from the above figures which shows the year-over-year (YoY) monthly percentage change in sales figures:


Barring the latest November and April (for what it's worth, April saw new versions of popular models arrive in Peru and so you can average out March 13 and April 13 for a fair estimate of the real state of things) the treand is clear and in the last couple of months, the slowdown in sales growth has accentuated.

This on the back of the latest official GDP growth estimate from FinMin Castilla yesterday, who called 2013 at +5.7% instead of the +6.0% to +6.3% that the Finance and Economy Ministry has claimed all year. Now for sure sure a figure is still very good in absolute terms, no arguing there, what we're clueing into here is a distinct change in trends.