Ecuador 2017. Market rebound growing 66%

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Ecuador new cars sales rebound in the 2018 after the previous two years fall with sales up 66% at 105.080 fueled by the improved economic environment. Chevrolet dominates with 34% of market share while Great Wall ranks 4th, best place worldwide.

Ecuador’s economy grew 3 percent in 2017, showing a strong recovery from the previous year, helped by household consumption, government spending and exports, despite oil sector production was down 2.8 percent, due to OPEC cuts. Ecuador produced 193.9 million barrels in the year, down 3.4 percent from the previous year. The country suffered from the drop in oil prices, a major earthquake and bad economic management over the last decade, according to President Lenin Moreno. The non-oil sector registered growth of 3.5 percent during 2017, due to the recovery of electricity, water, financial services and some other economic sectors.

Ecuadorian vehicles market was severely hit in the 2015/2016 by the economic crisis, generated by the decline of the oil price in the international market, reporting a deep lost of  to 62.791 units, the lowest level in a decade, in the 2016. In the 2017, the economic recovery supported a strong recovery in new vehicles demand with figures up 66.3% at 105.080 units, according to data released by the AEADE, the local association of car manufacturers.

Sales 2012Sales 2013Sales 2014Sales 2015Sales 2016Sales 2017Sales 2018 e
Car+LCV119.951112.460118.75680.06962.791104.11294.469
HCV1.4961.3551.3081.243383968908
Total121.447113.815120.06481.31263.174105.08095.377
2012 Var2013 Var2014 Var2015 Var2016 Var2017 Var2018 var e
Car+LCV-13,6%-6,2%5,6%-32,6%-21,6%65,8%-9,3%
HCV32,3%-9,4%-3,5%-5,0%-69,2%152,7%-6,2%
Total-13,2%-6,3%5,5%-32,3%-22,3%66,3%-9,2%

Brand wise, Chevrolet kept the domination selling 36.627 vehicles (+46.8%) with market share at 34.9%.

In second place Kia with 17.641 units (+153.6%) followed by Hyundai with 8.985 (+93.5%), Great Wall with 6.725 (+141.9%), Suzuki with 5.183 (+48.0%) and others over 80 distributors.

Rank 2017Rank 2016BrandSales 2017Sales 2016Variation 2017Share 2017Share 2016
11Chevrolet36.62724.95046,8%34,9%39,7%
22Kia17.6416.957153,6%16,8%11,1%
33Hyundai8.9854.64493,5%8,6%7,4%
46Great Wall6.7252.780141,9%6,4%4,4%
54Suzuki5.1833.50248,0%4,9%5,6%
65Toyota4.9463.05262,1%4,7%4,9%
77Nissan3.6802.54544,6%3,5%4,0%
89Hino3.3422.07960,7%3,2%3,3%
911Ford2.5611.62757,4%2,4%2,6%
108Mazda1.9732.342-15,8%1,9%3,7%
1110Renault1.9721.72614,3%1,9%2,7%
1212Volkswagen1.75990893,7%1,7%1,4%
1313Chery1.56586780,5%1,5%1,4%
1416JAC829309168,3%0,8%0,5%
1514Mitsubishi66443154,1%0,6%0,7%
1618Citroen647203218,7%0,6%0,3%
1715Zotye53331270,8%0,5%0,5%
1829Peugeot531104410,6%0,5%0,2%
1924FAW373165126,1%0,4%0,3%
2020Mercedes36419586,7%0,3%0,3%
2121BYD31617382,7%0,3%0,3%
2242Fiat31548556,3%0,3%0,1%
2319Jeep30720252,0%0,3%0,3%
2423Dongfeng27916668,1%0,3%0,3%
2526Foton264121118,2%0,3%0,2%
2638Changan22460273,3%0,2%0,1%
2717Honda189227-16,7%0,2%0,4%
2841Lifan18649279,6%0,2%0,1%
2927BMW18311361,9%0,2%0,2%
3025Audi1661641,2%0,2%0,3%
3122Changhe126168-25,0%0,1%0,3%
3235Mitsubishi Fuso1247467,6%0,1%0,1%
3339Skoda1085886,2%0,1%0,1%
3428Soueast101108-6,5%0,1%0,2%
3536Beiben937229,2%0,1%0,1%
3530Land Rover9396-3,1%0,1%0,2%
3632King Long8585
3745Kenworth7619
3834International7580
3944Porsche7224
4037Golden Dragon6969
4144Tata6024
4144Mack6024
4143Jinbei6046
4240JMC5653
4331Scania3591
4428Mini24108
4433Yutong2484
4442Mahindra2448
4442Qmc2448
4444Freightliner2424
4547Iveco2112
4647UD Trucks1212
4647Dodge1212
4636Volvo1272