Chile Expects Record Car Sales for the Full Year

Xinhua News Agency, San Diego, December 14 (Reporter Zhao Yanyan, Ye Shuhong) According to the latest statistics from the National Automobile Association of Chile, in the first 11 months of this year, Chile’s auto sales increased by 24% year-on-year. It is estimated that annual sales of new and old domestic vehicles will reach 1.035 million units. A record high.

Statistics show that by the end of this year, sales of second-hand household cars in Chile will reach 705,000, and sales of new cars will reach 330,000, and total sales of new and used cars will increase by 17% year-on-year. Four families have a new or updated vehicle.

The National Automotive Trade Association of Chile estimates that about 200,000 old cars that have reached the end of their useful lives will need to be renewed in 2012, so Chile’s car sales will increase next year.

The report analyzes that preferential automobile prices and increasingly convenient auto consumption credit are the main factors driving automobile consumption.

This year due to the deterioration of the global trade environment, some automakers began to lower prices in order to open up the market to increase sales, which has contributed to Chile’s auto consumption this year, and the recent appreciation of the dollar by the Chilean peso has also boosted the sales of imported cars.

In addition, due to the international financial crisis and the earthquake, the Chilean government has increased credit for the promotion of the economy, and some auto sales companies and banks have launched conditional auto consumption credit services in the context of reduced financing costs.According to statistics, as of now, Chile About 80% to 90% of new car consumption is supported by credit.