11. Latin America

For the last few years the market in Latin America countries has grown favorably till it topped 2.1 million units in 2000. The market decreased slightly in 2001 and further in 2002. It is estimated the market size in 2002 is 1.9 million units. The Brazilian market, the largest one, is around 950,000 units, followed by Mexico with 350,000 units. The market size of Argentina was 250,000 ~ 300,000 units in 2000~1. But, it drastically decreased to half in 2002 due to economic disturbances. Although a little over 130,000 units are shipped to Panama, half of them are re-exported to other Latin American countries. The demand in Venezuela has grown to a 100,000 units market in 2001~2.