Thursday, February 2, 2023

Colombia Car Sales Decline in July for Third-Straight Month

BOGOTA–Colombian vehicle sales in July fell 2.6% compared with a year ago, the third-straight month of year-on-year monthly declines, as the country’s once-robust economy continues to slow down.

Preliminary data released Friday by the industry group Comite Automotor indicated 26,105 units were sold last month, compared with 26,799 units sold in July 2011. Last month’s sales were the lowest since April.

- Advertisement -

Last year, a record 324,750 vehicle were sold. Through the first seven months of this year, sales are 1.0% higher than that period of 2011 at 186,936 units sold.

Colombia’s economy, after growing a strong 5.9% in 2011, slowed to a 4.7% year-on-year expansion in the first quarter, and Colombia’s central bank says it expects growth to moderate even further in the coming quarters. The economy could expand about 4% this year, the bank says, due in part to a global economic slowdown that has reduced global prices for oil, Colombia’s most important source of revenue.

Comite Automotor’s statistics cover more than 90% of the vehicles sold in Colombia, including buses, private vehicles, taxis and trucks.

Source: Wall Street Journal

- Advertisement -

We strive for accuracy in its reports. But if you see something that doesn't look right, send us an email. The Q reviews and updates its content regularly to ensure it's accuracy.

"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

Related Articles

Colombia has one of the lowest minimum wages in Latin America

QCOLOMBIA - 2023 starts and with it many of the workers...

Colombia and Venezuela reopen border crossing after 7 years

QCOLOMBIA - Colombia and Venezuela on Monday, September 26, 2022, reopened...
- paying the bills -


- paying the bills -


Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!