A growing economy, supported by mining and petroleum, is the main reason why the Colombian automotive market is at pretty much the same sales levels as last year.

Taking into account that 2011 was a record year and that 2012 has been affected by the fear of how the European crisis could affect this country, car sales are down just 3% year on year (260,113).

By the end October, 8,114 fewer vehicles had been sold than in the same 10 months of 2011, but SUVs, vans, trucks and buses have grown 17.1%, 11.1%, 45% and 11.6% respectively, which shows how commercial vehicles are still in demand, especially in the mining and petroleum sectors.

Oil finds on the Oriental Plains are pushing the country’s production to almost 1m barrels a year and the gold and other metals at several locations have pulling economy growth up close to 5% YTD.

On the other hand, passenger cars (-12.9%), taxis (-16%) and pickup truck sales (-14%) are decreasing, a fact that could be explained by the loss of consumer confidence.

Despite the YTD 3% of market loss, sales rose 11% in October over September figures to 25,023 units which made this month the second best on record after the same month in 2011.

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Econometría staticians had said that a final quarter with some 25,000 vehicles sold per month was possible so the year’s tally could be over 310,000.

Thanks to the Bogotá motor show now on,, brands are optimistic about sales and expect to exceed their own forecasts. 

Source: Econometría. Includes all types of vehicle

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