The Auto Care Association and the U.S. Commercial Service in Peru will be hosting a free webinar on business opportunities in the automotive industry in Peru. The webinar will take place on Wednesday, Jan. 29, 2020 at 3 p.m. EST and will provide participants with an overview of the country, the existing business climate and details on the association’s upcoming trade mission to Peru on March 16-17, 2020.
Key topics to be discussed include:
- Doing business in Peru;
- The automotive industry in Peru; and
- Detailed itinerary of the Auto Care Association’s trade mission in March.
The average age of private transport vehicles in Peru is 15.5 years and 22.5 years for public transport vehicles. The United States market share for auto parts is 19%, with U.S. auto part exports to Peru growing 20% from 2016 to 2018. There is a high level of used-car sales in Peru, as well as deteriorating road conditions.
Peru and the U.S. have a free trade agreement which has eliminated tariffs on many imported goods. Peru is also accelerating its customs clearance process for U.S. imports, in addition to strengthening intellectual property rights, making the county one of the fastest growing economies in Latin America over the last decade, with an average annual growth rate of 5.5% and one of the lowest inflation rates in the region at 3.6%.
The webinar is open to all Auto Care Association members and non-members. For more details about the webinar and to register, click here.