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October 14, 2004

COLOMBIA: Colombia vehicles sales up 20% in September

Colombian vehicle sales at the wholesale level totalled some 10,105 units in September, a 20% increase over the year-earlier month, according to Comite Automotor, an auto industry group.

By bcusack

Colombian vehicle sales at the wholesale level totalled some 10,105 units in September, a 20% increase over the year-earlier month, according to Comite Automotor, an auto industry group.

The September sales figure exceeded the 10,025 units sold in the previous month, boosting total sales during the first nine months of the year to 81,084 units, or 19% ahead of the same period last year, Comite Automotor reported.

“The liquidity of the market, hand in hand with relatively low levels of interest rates, have helped this industry,” said Maria Clara Norena, head of macroeconomic research at the Medellin-based trading company Suvalor in remarks reported by Dow Jones.

The Dow Jones report added that the local banking association, Asobancaria, said recently that consumer credit disbursements advanced 26.5% in August, 4.4 percentage points higher than in the like month in 2003.

Comite Automotor has revised its wholesale vehicle sales forecast for 2004 to 105,000 vehicles from 100,000 at the start of the year.

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