Vehicle sales in Ecuador are expected to reach 55,000 units in 2003, down 20.72% year-on-year, a forecast by the industry association AEADE showed on Monday.

Sales of vehicles in Ecuador in 2003 are expected to fall by 14,000 units in 2003, compared to 2002, the association added. AEADE also forecast that vehicle sales would reach 50,000 units in 2004.

Vehicle imports will fall by 48% in 2003 to 25,000 units, compared to 49,000 units in 2002. In 2004, imports will start to stabilise at around 23,000 units per year, the AEADE forecast added.

Some 50% of vehicles sold in Ecuador in the period from 2001 to 2003 were commercial and light trucks, while 44% were passenger cars, the chief executive of AEADE, Clemente Ponce, said.