03/22/2013

Uruguay Automobile Market Outlook 2013

• Vehicle sales reached a new record in 2012 with growth of 3.4% thanks to the increase in real family income, the strengthening of the exchange rate and real interest rates below the levels recorded last year

• Consumer financing of sales of new vehicles grew to 8.5% of estimated sales due to better accessibility conditions and lower interest rates

• Sharp fall in local automobile sector production, vehicle parts in particular, due to lower external demand in spite of overall growth in the manufacturing sector

• The sector trade deficit amounts to almost USD 1 billion: Fewer exports due to weak growth and the greater customs restrictions in the main Mercosur partners