Colombian Car Sales kept the negative momentum in the 2017 losing 6% and falling at lowest in last 17 years. Bad news from economic recovery, with S&P’s credit rating downgrade, could further penalize consumer confidence.
Colombia’s economic recovery following last year’s oil price shock likely lost some steam. Industrial output dropped in October, albeit at a considerably more moderate rate. Retail sales swung to contraction, signaling a slowdown in private consumption, as consumer confidence deteriorated in the month. Export growth slowed again in November, declining at a faster rate than imports. On the flipside, November saw a slight lift in consumer confidence, which is likely to have fueled higher household consumption in the month. The government reduced its 2017 calendar year budget amid lower-than-expected tax revenues and S&P’s credit rating downgrade on 11 December to meet fiscal targets.
Colombian vehicles market established the all time record in the 2014 with 326.023 sales, before to suffer for the economic crisis and decline to 253.291 in the 2016 ,the worse figure out of last 6 years. The introduction in January 2017 of a fiscal reform, including a 3 points of VAT increased hike, let the market in negative territory for the first part of the 2017. However, the trend is stabilizing and full year sales should be only marginally down, before to start recovering in the 2018, projected above 262.000. According to data released by ANDI, the Colombian Associations of Car Manufacturers, new vehicles sales in the full year 2017 have been 238.132 (-6.0%).
At brand wise, albeit losing in double-digit the market leader was Chevrolet with 51.253 sales (-14.3%) followed by Renault with 46.863 (-8.0%) and Nissan, advanced in third, with 21.076 units (+15.5%).
Behind, Kia with 19.810 units (-24.7%) followed by Mazda with 18.700 (+3.1%), Ford with 15.166 (-5.1%), Toyota with 9.596 (+12.4%), Volkswagen with 9.265 (+7.7%) and Hyundai with 8.596 units (+43.8%).
At model wise, the market leader is the Chevrolet Spark with 16.874 units (-1.7%) followed by the Chevrolet Sail with 14.344 (-7.5%) and the Renault Sandero (not including Stepway) with 11.585 (-30.8%).
Tables with sales figures
In the tables below we report sales for all Brands and top 10 Manufacturers Group.
