Colombia 2018. Toyota & Volkswagen shine in a market up 7.9%

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Colombian Auto Market
Porsche-Macan-2019

Colombian Auto Market has grown 7.9% in 2018 interrupting the recent years negative trend, closing with registrations at 256.662. Chevrolet kept the lead, only few units ahead of Renault. Impressive performances registered by Toyota and Volkswagen.

Economic Environment

Colombia’s economy sustained a solid pace of expansion into the final quarter despite a sharp decline in oil prices. Retail sales grew robustly in October against a backdrop of weak inflation and falling unemployment, signaling stronger private consumption growth. Moreover, industrial production jumped in October and car sales also soared in the month.

Growth is expected to climb again in 2019 on an upturn in domestic demand and increased investment in the extractive sector. Private consumption growth should strengthen, thanks to a tighter labor market fueling wage gains. This, coupled with an acceleration in fixed investment, should counter the likely adverse impacts from government expenditure cuts.

Market Trend

Colombian vehicles market established the all time record in the 2014 with 326.023 sales, before to suffer for the economic crisis and decline to 253.291 in the 2016, the worst figure out of last 6 years. The introduction in January 2017 of a fiscal reform, including a 3 points of VAT increased hike, let the market in negative territory for the entire 2017 – ended at 238.132 units (-6.0%) and for the first part of the 2018.

Then, according to data released by ANDI, the Colombian Associations of Car Manufacturers, new market started a positive pathway breaking the three years fall with full year sales at 256.662, up a solid 7.9%.

Competitive Arena

At brand wise, the 2018 market leader was Chevrolet with 49.874 sales (-2.6%) with 19.5% of market share, only few units ahead of Renault with 49.695 (+6.2%).

In third place, Nissan with 23.137 sales (+9.9%), followed by Mazda with 21.511 (+15.1%), Kia with 20.990 (+6.1%), Toyota with 14.174 (+47.8%), Volkswagen with 13.382 (+44.5%) Ford with 12.531 (-17.3%), and Suzuki with 8.268 (+14.1%).

At model wise, the 2018 market leader was the Renault Sandero with 21.308 (+5.6%) units followed by the Chevrolet Spark with 14.049 (-15.1%) and the Renault Logan  with 12.060 (+5.2%).

Tables with sales figures

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

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