New Transportation market report from Business Monitor International: "Chile Autos Report 2014"
Boston, MA -- (SBWIRE) -- 12/24/2013 -- Vehicle sales in Chile increased 15.0% year-on-year (y-o-y) in the first eight months of 2013, to 242,257 units. BMI forecasts a 10% increase over the course of the year. We expect sales to moderate somewhat in the latter part of the year, as we believe the country's weak private consumption story and weakness in the mining sector will start to filter through to the market, and higher base effects from strong H212 sales volumes will temper the growth rate.
We believe that the Chilean consumer is entering a period of slower growth over the medium term, which has partly informed our forecast of a 9% increase in 2014, a slight slowdown from 2013 levels, and our expectation for fairly tepid growth over the remainder of our 2017 forecast period. We forecast sustained positive growth in the market, but that this will be moderated by the country's relatively subdued consumer story. Indeed, we believe that much of this growth will come from the small size of the market, where growth is easier to sustain than in a larger, more mature sector, and is not necessarily a sign of strong consumer sentiment. A further weakening of the country's consumer outlook therefore poses a considerable downside risk to our longer-term forecasts.
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