Ecuador new cars sales are collapsing

Ecuador new cars sales Dodge-Ram_Rebel_Mopar-2016

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.

Economic Outlook

Ecuador’s economy shifted into lower gear last year and the macroeconomic situation will likely take a turn for the worse this year as it will be restrained by a combination of global and domestic challenges.

Headwinds include still-subdued oil prices, decreasing state revenues amid tight external financing conditions and declining export competitiveness due to the impact of the strong U.S. dollar on the dollarized economy.

The economic impact of April’s devastating earthquake will add to economic struggles.

Market Outlook

Indeed, according to data released by the AEADE, the Association of Ecuador Automotive Industry, the new light passengers vehicles sold in the first quarter 2016 had been 14.013, down 35.4% from the previous year.

March was the 15th year on year falling month in a string and preliminary data anticipate that the negative trend was pursued in April and May as well.

Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.

 

 

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