In May this year, 56,936 new motorcycles were registered, a decrease of 16.6% compared to the same month last year, according to registration information from the Single National Traffic Registry (RUNT).
According to Andi and Fenalco’s report, this number of registrations represented 10.9% more than in the month of April.
“Showing signs of stabilization in the noticeable slowdown in this market,” the report highlights.
They add that factors such as increases in the prices of the economy, the rise in the cost of credit and uncertainty about the near future, especially in the less favored classes, have had a significant impact on this sector.
In turn, they emphasize that in some regions it is still difficult for new motorcycle buyers to acquire SOAT, which has also had a negative impact on the industry.
“Colombian families continue to favor motorcycles for their benefits in saving time and money, being the best-selling vehicle class in the country,” say Andi and Fenalco.
Despite the moment of slowdown, they claim that the motorcycle sector continues to contribute to job creation and with the registration of 56,936 motorcycles in May this year, the same number of families have found a means of transport and employment, especially in Tiers 1, 2 and 3.
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.
