According to figures from Runt and calculations from Andemos, new vehicle sales fell 17.2% in March compared to the same month of the previous year. In the third month of the year, 17,270 new vehicles were registered in the country.
“The high rates of consumer loans, inflation and the high dollar have worsened consumer confidence, so vehicle registrations continued to slow down at the end of the third month of the year,” said Andemos president Oliverio García..
I explain that if March 2020 is not taken into account when the pandemic started, this year will record the lowest number of new registrations since 2009.
“The seasonal analysis predicts a close of 209,000 units,” the businessman added.
Mazda, Toyota and Foton were the brands with the best dynamics in March, with positive variations of 47.7%; 17.5% and 17.3% respectively, despite the contraction of the market.
The five brands leading the market this month were Renault (2,768), Toyota (2,407), Chevrolet (2,205), Kia (1,326) and Mazda (1,266).
By segment, the excellent dynamism of Pick Up stands out with a variation of 65.6%, followed by vans with 29.3% and business passengers with 15.4%.
Utility-type vehicles will continue to be preferred by consumers in 2023, outpacing car types. Vehicles carrying cargo under 10.5 tons maintain good dynamics.
Bogotá (3,216), Funza (1,845), Medellín (1,143), Cali (1,074) and Villa del Rosario (1,072) led the national market for new license plates in March.
In all-electric vehicles (BEV), there was an excellent performance in the automotive and utility segments and the decline is due to the fact that there are no deliveries of electric buses this year
Andemos assures that the growing trend of electric and hybrid vehicles in the fleet is a great opportunity in terms of technological advancement and improving competitiveness in the market.
The development of a market for electric and hybrid vehicles not only offers new opportunities for industry, but also for local assembly companies and national auto parts manufacturers.
“Many countries are promoting vehicle renewal in times of uncertainty or economic slowdown as it is a source of opportunity to stimulate economies in terms of productivity, income and employment. The modernization of the country’s vehicle fleet must be carried out through incentives that promote the renewal of the fleet with new technologies, such as electric, hybrid, hydrogen or gas-powered vehicles,” said García.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.