Overview
- Peru logged a monthly record of 23,512 new vehicles sold in February 2026, up 52% year over year, according to the AAP.
- Sales in Peru reached 46,581 units in January–February, a 37.2% jump that marks the strongest first bimonthly total on record.
- Scotiabank projects roughly 10% growth for Peru’s auto market in 2026, with about 20% expansion in the first half and a slowdown to 4% in the second due to base effects.
- Analysts cite stronger formal employment, AFP withdrawals, a firmer sol that lowered local prices, cheaper vehicle loans, greater model availability, and corporate fleet renewal as key drivers in Peru, while elections, higher oil and a stronger dollar, and local gas issues could cool demand in March and 2Q26.
- In Argentina, broad price cuts were announced after the luxury tax’s elimination and a policy allowing up to 10,000 U.S. vehicles to enter tariff‑free, with examples including Ford’s Mustang reductions of up to 27% and Fiat’s 600 Hybrid dropping about 19% alongside cuts from Peugeot, Volkswagen, Mercedes‑Benz, BMW, Audi, Porsche, Toyota and Lexus.