Bolivia Auto Sales in 2015 at record again, the 12th in a series taking benefit from the new legislation which penalizes the import of used vehicles, actually representing near the 90% of total vehicles import.
In the 2015, the Bolivian economy likely held up well last year despite economic downturns in key trading partners and the low-commodity-price environment. Strong government spending has bolstered the economy against external headwinds and is expected to continue this year. President Evo Morales has been courting foreign investment for the government’s ambitious multi-billion-dollar development plan.
Following the 11 consecutive record, the 2015 was expected weak for the Bolivian automotive sector.
Indeed forecast was not respected as the market reported a further increase with sales first time over the 40.000 units (42.888) a level representing an increase of over 1000% in ten years. In the 2005 new vehicles sold in Bolivia had been 4.552.
However, the import of new vehicles represents only the 12% of total imports and demand for new cars will further grow in the next years fueled by the new legislation, introduced in early 2015 and effective from 2016 that penalize the import of obsolete pre-owned vehicles.
Three Japanese brands kept the 50% of the market, Suzuki, Honda and Nissan.