Japanese cars make inroads in Peru's surging market

Peru is officially known as the Republic of Peru, it is a country located in the western part of South America. Geologically, Peru can be separated into three different landscapes: an arid coastal strip running along the country's length (the world's driest desert, the Atacama Desert, starts here), to the East the Andean mountains and to the South East is the Amazon rainforest. The Peru terrain is rough and rugged.

Peru has not been on the top when it has come to Automobile industry. There are no major automobile producers in Peru. But the middle class income is growing across Peru, similar to other countries around the world.

The report, stated in Peru21, says the Peru will have 4.5 million cars in 2020, a significant raise from the projected 2 million cars currently in flow.

The rise, the report said, is by and large due to a boost in Peruvians’ buying power, and the consolidation of the middle class. Peruvian people majorly import new cars and Japanese used car. Importation of cars and Japanese used cars for sale in Peru has increased due to Japanese used car exporters like Autoworld International.

The BBVA report told that although car sales were growing, the number of car loans remained near to the ground. According to the information, only 20 percent of car sales are financed by banks.

“Currently, new financing modes are being available for the local market, such as American-style leasing,” the report said.

Edwin Derteano, president of Peru’s Automotive Association (AAP), said that by 2020 a car’s average age will be 12 years, considerably lesser than the present 16 year average.

"The best would be for it be less than 10 years, but for that you need to be selling over 240,000 new cars every year” he said.

A lesser age to the country’s automobiles, he said, would mean a reduction in pollution, and better fuel savings.

Peru’s total number of cars is expected to more than double in the next decade, according to a recent report published by BBVA Research.

If you are looking to buy used cars from Japan, visit Autoworld International, a renowned used car exporter from Japan. With 20 years in exporting cars from Japan to countries across the world. The company has tie-ups with many auctions and more than 1000 cars to facilitate the purchase of vehicles. Visit the website and drop a mail to know more.