Wednesday , January 20 2021

The car market has experienced its first drop for more than two years

In the last month of the year, car sales reached 33,518 units, down 2.7% compared to the same period of the previous year, marking the first drop since April 2016.

One of the figures the government has done to point out that the country is experiencing a good economic moment is car sales. And it is that this market continues to record every month, but this time the situation is different.

According to data from Chile's National Automobile Association (Anac), car sales in the local market reached 33,518 in the last month of the year, down 2.7% from the same period of the previous year, marking the first low level since April 2016.

In any case, with the figure reached last month, sales during the year have reached 382,057 vehicles and now exceed everything achieved in 2017, despite the fact that December sales still remain, a historically high month for car sales.

In detail, SUVs continue to reign in the Chilean elections as it has reached 135,000 vehicles this year so far this year, an increase of almost 30% over the same period last year.

In November, the market is still dominated by Chevrolet, which has a market share of 8.7%, followed by Suzuki by 8% and Hyundai by 7.8%.

Tanner's automotive department explained that "this decline in the growth of new car sales is part of the cycle due to the speed at which the industry is developing, but this is not worrying, remember that November left on the 5th day and also faced the appreciation of the dollar, "said region manager Jose Manuel Gonzalez.

"This lower activity in new cars is expected to stimulate the sale of second-hand cars, considering that they are backward growth markets and although the latter have had a modest performance over the past two years, there is a tremendous growth potential, selling, as in funding, "he added.

However, they predicted that "over the next few months there will be market normalization with moderate growth in the sale of new cars after several months of progress that generate a very complicated benchmarking scenario."

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