The Colombian vehicle market continues to improve as lower interest rates and the economic recovery provide a boost to sales.
Figures from industry group Comite Automotor show a 46% rise in sales at the wholesale level for May, with 19,699 units sold. For the first five months of the year, sales were up 27% to 88,567 units.
General Motors, Renault and Hyundai Motor hold the top three spots with 6,408, 2,989 and 2,088 units sold.
As reported by just-auto in May, the country’s vehicle market saw first quarter volumes up 10.1% to 49,676 units, making a full year tally of 205,000 quite feasible.
The Colombian economy endured a mild recession in 2009 and GDP grew just half a point, according to Banco de la República – the central bank. This resulted in a fall in full year car sales less severe than forecast late in 2008, after the global credit crunch hit, when pundits predicted a 2009 debacle.
Instead, Econometria statisticians reported total industry volume down 15.7% to 185,128 units for the year with trucks faring far worse (-42.9%).