South America

In South America, the key Brazilian market remained strong, primarily due to a healthy economy with strong growth in GDP, but also due to support measures including advantageous financing. The Brazilian market for heavy-duty trucks rose 64% to 109,760 vehicles (66,950). In South America as a whole, the market rose 61% to 138,763 heavy trucks (86,398). In Brazil, the market for construction equipment rose 68%.

The pace of growth in the South American truck market is expected to plane out during 2011 after an extremely strong 2010, but despite this, demand is expected to remain at a healthy level. The Brazilian market for construction equipment is expected to grow by 5-15% in 2011.