LatAm light vehicle demand to double - study
AGOURA HILLS, Calif., Feb 9 (Reuters) - Demand for cars and
light trucks [in Latin America] should double to more than 5.2 million in the
latter part of next decade, automotive industry research firm
J.D. Power & Associates Inc. said on Tuesday.
Sales of light vehicles totalled about 2,698,000 last year,
with Brazil, Argentina, Mexico, Colombia and Venezuela
accounting for most of the sales, according to a J.D. Power
report.
Despite the economic uncertainty and volatility of the
region, Latin America's upside potential has spurred aggressive
investment by General Motors Corp. , Ford Motor Co.
and DaimlerChrysler AG , J.D. Power said.
"In spite of Latin America's recent fall-off in demand and
current lackluster business climate, the prospects for the
region remain moderately optimistic," Kim Smith, director of
automotive forecasting at J.D. Power, said in a statement.
"For the light vehicle industry, the potential for sales
gains remains favorable, which is in contrast to assumptions of
stable demand in most of the developed world," she added.
"Suppliers and manufacturers alike continue to look to these
emerging markets for significant opportunities."
In addition to GM, Ford and DaimlerChrysler, Asian
automakers like Toyota Motor Corp. <7203.T> and Honda Motor Co.
Ltd. <7267.T>, have led nontraditional players into the market,
J.D. Power said.
In addition to increasing numbers, the market is seeing
increasing diversity in the types of vehicles on sale.
((Detroit Newsroom, 313 870-0200))
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