Colombia. Renault taking the lead of a market up 1.8% in 2019

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Colombian Auto Market
Renault-Twingo-2019

Colombian Auto Market in 2019 kept recovering at moderate speed. Indeed, Total sales in 2019 have been 257.222 (+1.8%). Renault has conquered the head of the ranking, putting an end to the historic domain of Chevrolet.

Economic Environment

Colombian economy growth accelerated to a four-year high in the third quarter, contrasting the Q2’s slowdown. Robust domestic demand drove Q3’s expansion. Household spending rose at a faster clip compared to Q2 on the back of sturdy remittance inflows and credit growth, rising real wages and migration inflows from Venezuela. Moreover, fixed investment growth quickened in Q3 amid buoyant business sentiment and VAT deductions on investment in machinery and equipment. That said, the external sector dragged on overall growth in Q3 as export growth lost pace while imports surged.

Market Trend

After a positive period ended in the 2014 with a peak of  316.482 units, the Colombian vehicles market started a decline with sales dropped down at 245k in the 2016. Moreover, in 2017, also due to a 3 points of VAT increase applied since January 2017, the market registered the lowest peak in this decade.

Finally in 2018 the market was able to change direction and to post a positive score, with 256.662 sales, up 7.9%,

In 2019, according to date released by the Colombian Associations of Car Manufacturers, the market kept recovering. Indeed, Total sales in 2019 have been 257.222 (+1.8%).

In the competitive arena, Chevrolet’s historic domain has ended this year, as Renault conquered the head of the ranking. Indeed, the French-based brand – holding 22.2% of share – has raised its market share by over 5 points during the last decade. On the other side, Chevrolet crumbled from 30.1% of share in 2010 to 18.1%.

In third position, Nissan closed to 8.4% of market share, while the followers, Mazda and Kia, have ended respectively with 7.9% and 7.8%.

Tables with sales figures

In the tables below we report sales for all Brands and top 10 Manufacturers Group.

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