MarketLineIC_Peru New Cars_170922.pdf

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1、 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|1MarketLine Industry ProfileNew Cars in PeruJanuary 2022ReferenceReference Code:Code:0088-03580088-0358PublicationPublication Date:Date:JanuaryJanuary 20222022PrimaryPrimary NAICS:NAICS:336111336111WWW.MARKETLINE.COMWWW.

2、MARKETLINE.COMMARKETLINE.THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED New Cars in PeruIndustry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|21.Executive Summary1.1.Market valueThe Peruvian new cars market grew by 48.4%in 2021 to reach a v

3、alue of$0.5 billion.1.2.Market value forecastIn 2026,the Peruvian new cars market is forecast to have a value of$0.6 billion,an increase of 20%since 2021.1.3.Market volumeThe Peruvian new cars market grew by 43.3%in 2021 to reach a volume of 116.8 thousand units.1.4.Market volume forecastIn 2026,the

4、 Peruvian new cars market is forecast to have a volume of 128.4 thousand units,an increase of 9.9%since 2021.1.5.Geography segmentationPeru accounts for 0.1%of the Americas new cars market value.1.6.Market shareHyundai is the leading player in the Peruvian new cars market,generating a 23.3%share of

5、the markets volume.1.7.Market rivalryRivalry within the new cars market is intensified by the existence of large-sized companies and the high fixed costs associated with car manufacturing.However,the relatively small number of large companies in the market,due to the large economies of scale require

6、d,mitigates competition.Differentiation is a fundamental aspect of competition in the new cars market,and that serves to alleviate rivalry to some extent.New Cars in PeruIndustry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|31.8.Competitive LandscapeThe Per

7、uvian new cars market is fairly consolidated,with the three leading players,Toyota,Hyundai,and Nissan,expected to account for a combined 56.4%share of the sales volume in 2021.The leading players in this market are tapping into the growing demand for hybrid and electric vehicles,while alliances with

8、in the market are a common strategy.The COVID-19 pandemic halted production in many countries,as well as disrupting the supply chain;as such,the leading players were negatively impacted in 2020.New Cars in Peru Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOP

9、IEDPage|4TABLE OF CONTENTS1.Executive Summary21.1.Market value.21.2.Market value forecast.21.3.Market volume.21.4.Market volume forecast.21.5.Geography segmentation.21.6.Market share.21.7.Market rivalry.21.8.Competitive Landscape.32.Market Overview82.1.Market definition.82.2.Market analysis.83.Marke

10、t Data103.1.Market value.103.2.Market volume.114.Market Segmentation124.1.Geography segmentation.125.Market Outlook135.1.Market value forecast.135.2.Market volume forecast.146.Five Forces Analysis156.1.Summary.156.2.Buyer power.166.3.Supplier power.176.4.New entrants.196.5.Threat of substitutes.21Ne

11、w Cars in Peru Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|56.6.Degree of rivalry.237.Competitive Landscape257.1.Market share.257.2.Who are the leading players?.257.3.How are strategic alliances used by the leading companies?.267.4.How is new tech

12、nology opening up competition?.267.5.How are leading players progressing in the hybrid and electric cars segment?.277.6.What impact is the COVID-19 pandemic having on leading players?.288.Company Profiles298.1.Toyota Motor Corporation.298.2.Hyundai Motor Company.348.3.Nissan Motor Co.,Ltd.389.Macroe

13、conomic Indicators459.1.Country data.45Appendix47Methodology.479.2.Industry associations.489.3.Related MarketLine research.48About MarketLine.49New Cars in Peru Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|6LIST OF TABLESTable 1:Peru new cars marke

14、t value:$billion,2017-21(e)10Table 2:Peru new cars market volume:thousand units,201721(e)11Table 3:Peru new cars market geography segmentation:$billion,2021(e)12Table 4:Peru new cars market value forecast:$billion,2021-2613Table 5:Peru new cars market volume forecast:thousand units,20212614Table 6:P

15、eru new cars market share:%share,by volume,2021(e)25Table 7:Toyota Motor Corporation:key facts29Table 8:Toyota Motor Corporation:Annual Financial Ratios31Table 9:Toyota Motor Corporation:Key Employees32Table 10:Toyota Motor Corporation:Key Employees Continued33Table 11:Hyundai Motor Company:key fact

16、s34Table 12:Hyundai Motor Company:Annual Financial Ratios36Table 13:Hyundai Motor Company:Key Employees37Table 14:Nissan Motor Co.,Ltd.:key facts38Table 15:Nissan Motor Co.,Ltd.:Annual Financial Ratios40Table 16:Nissan Motor Co.,Ltd.:Key Employees41Table 17:Nissan Motor Co.,Ltd.:Key Employees Contin

17、ued42Table 18:Nissan Motor Co.,Ltd.:Key Employees Continued43Table 19:Nissan Motor Co.,Ltd.:Key Employees Continued44Table 20:Peru size of population(million),20172145Table 21:Peru gdp(constant 2005 prices,$billion),20172145Table 22:Peru gdp(current prices,$billion),20172145Table 23:Peru inflation,2

18、0172145Table 24:Peru consumer price index(absolute),20172146Table 25:Peru exchange rate,20162046New Cars in Peru Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|7LIST OF FIGURESFigure 1:Peru new cars market value:$billion,2017-21(e)10Figure 2:Peru new

19、 cars market volume:thousand units,201721(e)11Figure 3:Peru new cars market geography segmentation:%share,by value,2021(e)12Figure 4:Peru new cars market value forecast:$billion,2021-2613Figure 5:Peru new cars market volume forecast:thousand units,20212614Figure 6:Forces driving competition in the n

20、ew cars market in Peru,202115Figure 7:Drivers of buyer power in the new cars market in Peru,202116Figure 8:Drivers of supplier power in the new cars market in Peru,202117Figure 9:Factors influencing the likelihood of new entrants in the new cars market in Peru,202119Figure 10:Factors influencing the

21、 threat of substitutes in the new cars market in Peru,202121Figure 11:Drivers of degree of rivalry in the new cars market in Peru,202123Figure 12:Peru new cars market share:%share,by volume,2021(e)25New Cars in Peru Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHO

22、TOCOPIEDPage|82.Market Overview2.1.Market definitionThe new cars market consists of the initial retail sale/registration of new passenger cars.Passenger cars include saloons,hatchbacks,SUVs,4x4s,and light pickups used predominantly in North America,and other related vehicles.The market value is calc

23、ulated at retail selling price(RSP)and the market volume is given in terms of units sold.Market share data for the New Cars industry applies to motor manufacturing groups as opposed to their individual brands,i.e.for the Volkswagen Group this includes all of its brands such as Volkswagen,Audi,Skoda,

24、Seat etc.therefore where possible,market share data represents sales figures for every brand in that manufacturing group within each country.All market data and forecasts are represented in nominal terms(i.e.without adjustment for inflation)and all currency conversions used in the creation of this r

25、eport have been calculated using constant 2020 annual average exchange rates.For the purposes of this report,the global market consists of North America,South America,Europe,Asia-Pacific,Middle East,South Africa and Nigeria.North America consists of Canada,Mexico,and the United States.South America

26、comprises Argentina,Brazil,Chile,Colombia,and Peru.Europe comprises Austria,Belgium,the Czech Republic,Denmark,Finland,France,Germany,Greece,Ireland,Italy,Netherlands,Norway,Poland,Portugal,Russia,Spain,Sweden,Switzerland,Turkey,and the United Kingdom.Scandinavia comprises Denmark,Finland,Norway,and

27、 Sweden.Asia-Pacific comprises Australia,China,Hong Kong,India,Indonesia,Kazakhstan,Japan,Malaysia,New Zealand,Pakistan,Philippines,Singapore,South Korea,Taiwan,Thailand,and Vietnam.Middle East comprises Egypt,Israel,Saudi Arabia,and United Arab Emirates.2.2.Market analysisThe Peruvian new cars mark

28、et has struggled of late,recording value and volume decline in 2018 and 2020 and weak growth between those years.The market is expected to achieve very strong growth in 2021 and achieve moderate growth overall over the forecast period.The market declined markedly in 2018,with fluctuations seen acros

29、s the entire year.Economic growth in the country had been subdued prior to the fourth quarter,with a slowdown in business and infrastructure investment having a knock-on effect on economic activity.However,in the fourth quarter of 2018 economic growth accelerated,while access to credit improved and

30、unemployment fell.These factors led to an increase in consumer confidence which sparked growth in this market in 2019.The country was able to achieve 2.15%growth in 2019 mainly because of a rise in domestic demand in the form of private consumption and investments,according to the Central Reserve Ba

31、nk of PeruThe Peruvian new cars market is forecast to generate total revenues of$0.5bn in 2021,representing a compound annual rate of change(CARC)of-1.4%between 2017 and 2021.In comparison,the Colombian and Chilian markets will grow with compound annual growth rates(CAGRs)of 3.6%and 11.8%respectivel

32、y,over the same period,to reach respective values of$3.5bn and$5.3bn in 2021.As technology improves the efficiency and price competitiveness of electric cars,demand for these vehicles will undoubtedly increase.A number of major global car manufacturers such as Volvo,GM,Aston Martin,and Jaguar New Ca

33、rs in Peru Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|9Land Rover have announced plans to switch over to manufacturing only electric or hybrid cars at some point within the coming decade.Market consumption volume is forecast to decline with a CAR

34、C of-3.5%between 2017 and 2021,to reach a total of 116.8 thousand units in 2021.The markets volume is expected to rise to 128.4 thousand units by the end of 2026,representing a CAGR of 1.9%for the 20212026 period.The COVID-19 pandemic had a significant impact on the automotive industry in 2020,which

35、 had a knock-on effect on the new cars market.Temporary shutdowns at manufacturing plants amid labor shortages and a severe disruption in the supply chain,including a shortage of semiconductors,led to production declines.Meanwhile,consumer and business confidence remained depressed since its slump i

36、n the advent of the pandemic,leading to a decline in demand.According to MarketLine,the countrys GDP contracted by 12.11%in 2020,due to global travels ban and a decline in global demand.The performance of the market is forecast to accelerate,with an anticipated CAGR of 4.3%for the five-year period 2

37、0212026,which is expected to drive the market to a value of$0.6bn by the end of 2026.Comparatively,the Colombian market will increase with a CAGR of 5.8%,and the Chilian market will decline with a CARC of-2.1%,over the same period,to reach respective values of$4.6bn and$4.7bn in 2026.The Peruvian ne

38、w cars market is expected to follow a strong growth trajectory in value and volume terms in 2021 and 2022.Pent-up demand will drive growth,while the improving macroeconomic environment given that the pandemic is set to be coming to an end will support spending over the coming years.According to Mark

39、etLine,the economy is forecasted to grow by 8.54%in 2021,subject to post pandemic global recovery.New Cars in Peru Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|103.Market Data3.1.Market valueThe Peruvian new cars market grew by 48.4%in 2021 to reac

40、h a value of$0.5 billion.The compound annual rate of change of the market in the period 2017-21 was-1.4%.TableTable 1 1:PeruPeru newnew carscars marketmarket value:value:$billion,billion,2017-21(e)2017-21(e)Year$billionPEN billion billion%Growth20170.51.80.520180.51.60.4-13.120190.51.60.42.020200.31

41、.20.3-28.02021(e)0.51.70.448.4CAGR:201721(1.4%)SOURCE:SOURCE:MARKETLINE M A R K E T L I N EFigureFigure 1 1:PeruPeru newnew carscars marketmarket value:value:$billion,billion,2017-21(e)2017-21(e)SOURCE:SOURCE:MARKETLINE M A R K E T L I N ENew Cars in Peru Industry Profiles MARKETLINE THIS PROFILE IS

42、 A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|113.2.Market volumeThe Peruvian new cars market grew by 43.3%in 2021 to reach a volume of 116.8 thousand units.The compound annual rate of change of the market in the period 2017-21 was-3.5%.TableTable 2 2:PeruPeru newnew carscars marketmarket vol

43、ume:volume:thousandthousand units,units,20172017 21(e)21(e)Yearthousand units%Growth2017134.62018115.4-14.22019115.2-0.2202081.5-29.32021(e)116.843.3CAGR:201721(3.5%)SOURCE:SOURCE:MARKETLINE M A R K E T L I N EFigureFigure 2 2:PeruPeru newnew carscars marketmarket volume:volume:thousandthousand unit

44、s,units,20172017 21(e)21(e)SOURCE:SOURCE:MARKETLINE M A R K E T L I N ENew Cars in Peru Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|124.Market Segmentation4.1.Geography segmentationPeru accounts for 0.1%of the Americas new cars market value.Brazil

45、 accounts for a further 4.5%of the Americas market.TableTable 3 3:PeruPeru newnew carscars marketmarket geographygeography segmentation:segmentation:$billion,billion,2021(e)2021(e)Geography2021%Brazil33.04.5Chile5.30.7Colombia3.50.5Peru0.50.1Rest Of The Americas690.894.2Total733.1100%SOURCE:SOURCE:M

46、ARKETLINE M A R K E T L I N EFigureFigure 3 3:PeruPeru newnew carscars marketmarket geographygeography segmentation:segmentation:%share,share,byby value,value,2021(e)2021(e)SOURCE:SOURCE:MARKETLINE M A R K E T L I N ENew Cars in Peru Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AN

47、D IS NOT TO BE PHOTOCOPIEDPage|135.Market Outlook5.1.Market value forecastIn 2026,the Peruvian new cars market is forecast to have a value of$0.6 billion,an increase of 20%since 2021.The compound annual growth rate of the market in the period 2021-26 is predicted to be 4.3%.TableTable 4 4:PeruPeru n

48、ewnew carscars marketmarket valuevalue forecast:forecast:$billion,billion,2021-262021-26Year$billionPEN billion billion%Growth20210.51.70.448.4%20220.51.90.57.3%20230.61.90.52.9%20240.61.90.50.6%20250.62.00.52.9%20260.62.20.57.8%CAGR:2021264.3%SOURCE:SOURCE:MARKETLINE M A R K E T L I N EFigureFigure

49、 4 4:PeruPeru newnew carscars marketmarket valuevalue forecast:forecast:$billion,billion,2021-262021-26 SOURCE:SOURCE:MARKETLINE M A R K E T L I N ENew Cars in Peru Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|145.2.Market volume forecastIn 2026,th

50、e Peruvian new cars market is forecast to have a volume of 128.4 thousand units,an increase of 9.9%since 2021.The compound annual growth rate of the market in the period 2021-26 is predicted to be 1.9%.TableTable 5 5:PeruPeru newnew carscars marketmarket volumevolume forecast:forecast:thousandthousa