According to the report by the National Association of Businessmen of Colombia (Andemos), the country’s automotive sector has experienced a drop in vehicle prices, especially used ones. During the first four months of the year, there was a 22% drop in new vehicle registrations compared to the previous year, with a total of 60,579 units sold.
In the year 2022, the prices of vehicles in Colombia showed an upward trend, attributed to factors such as inflation, the shortage of parts due to the COVID-19 pandemic, and the increase in the price of the dollar. However, experts affirm that the decrease in prices is due to the entry into the market of 0-kilometer vehicles, which can be purchased at prices ranging between 49 and 60 million pesos, which has caused a reduction in the value of the vehicles. used cars.
In May of this year, a total of 15,674 vehicles were purchased in Colombia, which represents a 30% decrease compared to the same month of the previous year. According to Oliverio García, president of the National Association for Sustainable Mobility (Andemos), the automotive market in Colombia has been experiencing a constant drop since August of the previous year: “So far this year we have registered a little less than 61 thousand units, that is 17 thousand units less than the first 4 months of last year”.
Faced with this situation, García suggests that the financial sector and the national government take measures to reduce interest rates, since the high cost of financing discourages the purchase of vehicles.
“Contrary to what happens in the Latin American markets with the exception of Chile, the Colombian automotive market presents a constant drop during 2023 and is decreasing at a significant rate. One of the factors that discourages the purchase of vehicles the most is the high cost of financing, which is why we invite the financial sector to seek measures to reduce interest rates.” said the director of Andemos.
According to the study carried out by Andemos in conjunction with the Single National Traffic Registry (Runt), it is expected that around 200,000 new units will be registered by the end of the year.
more affordable vehicles
Below are some of the cheapest used cars in 2023, with less than 100,000 kilometers, according to the study carried out by the National Association for Sustainable Mobility:
Renault Clio: from $26 million. Renault Logan: from $26 million. Mazda 6: starting at $27 million. Mazda 3: starting at $29 million. Toyota Hilux: from $36 million. Toyota Corolla: starting at $39 million.
In the year 2022, the most sought after and sold models in the country were the Kia Picanto, the Renault Duster and the Chevrolet Onix, which could be found on the market with prices ranging between 30 and 50 million pesos. The Renault Duster pickup and the Stepway model, from the Renault brand, have gained great popularity and have positioned themselves as one of the most purchased options in Colombia this year. Despite having experienced an 8% decrease in price, from $49,144,200 in 2022 to $45,000,000 today, it is still a good choice for consumers.