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.
Go deeper with GlobalData
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%).
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
