Ecuador new cars sales are collapsing and the first quarter 2016 sales fell down 35% from the previous year prolonging the negative steak at 15 months. April devastating earthquake should have worsening the trend.
Ecuador Vehicle Market in 2015 tumbled down hit by economic crisis. The automotive industry was reported down 28%, at the lowest since 2005. Chevrolet kept the leadership taking the gap over Kia and Hyundai.
Ecuador cars sales fell 14% in the first half 2015 hit by the economic recession following the huge decline of oil international price and lower than planned financial support from China. Chevrolet still market leader.
The Automotive sector is the third in Ecuador industrial economy having performed a strong increase in the last decade. Following the record year achieved in the 2011, the market was hit by increased fee on imported vehicles.