China's car market share in Peru rises

Chery brand manager Gianfranco said that now some South Korean and Japanese vehicles have started to raise prices, which provides a large market space for Chinese brand vehicles. The increase in the price of vehicles in South Korea and Japan was mainly due to the fact that their manufacturers began to shift investment in technology and advertising to the cost of vehicles, and the price eventually rose from US$2,000 to US$3,000. Some auto brands, such as Kia, Toyota, Hyundai, Chevrolet, etc., have raised their prices. The original sales price of vehicles with a price range of about 11,000 to 12,000 US dollars is currently up to 17,000 US dollars. Gianfranco said that every time these traditional brand vehicles raise prices, Chinese cars will occupy corresponding market vacancies. The price advantage of Chinese autos has caused some Peruvian consumers who originally intended to purchase used cars to turn to bank loans to purchase a new Chinese car. This trend became more apparent after the Peruvian government banned the import of used cars. It is estimated that the sales of vehicles in China will reach 20,000 this year, accounting for 16% of the total sales in the Peruvian market, of which Chery’s sales are expected to reach 1,700.

The Peruvian auto market is expected to sell 151,000 vehicles this year, a year-on-year increase of 25%. Of the 134 brands in the secret car market, 96 are Chinese brands, of which 42 brands produce trucks and the rest 54 brands produce buses. At the same time, 52 Chinese brands produce commercial vehicles and 28 brands produce passenger vehicles. .