Passenger car sales continue to decline for third straight month, manager says Economic Studies of the Automobile Association of Peru (AAP), Alberto Morisaka.
According to sales data, there was a 13.6% drop in May compared to the same period last year; Although demand is still higher than before the pandemic, demand is due to fleet renewal motorcyclesMorisaka explained.
The representative explained that employment recovery and income growth like CTS and AFP allowed people to purchase more units.
Last year alone, 425 thousand units were sold, which will be difficult to repeat due to iFreight price increase and inflation affecting the purchasing power of the population, which allocates up to 40% of their income to food.
At the moment, freight rates are expected to continue to decline, with inflation reaching only 6.5% by the end of this year. This assumes that sales of motorcycles and three-wheelers will reach 370,000, or 380,000 units less than in 2021, although more than the 280,000 that were bought before the pandemic.
Source: RPP
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.