Colombia | Automotive Situation

Summary

In 2025, the automotive sector is accelerating its sales momentum, with strong growth in utility vehicles and in hybrid and electric models. Greater household purchasing power and a more appreciated exchange rate, among other supportive factors, sustain this trend and will keep driving sales in 2025 and 2026.

Key points

• Key points:
• Globally, the sector has returned to pre-pandemic levels, with China as the largest producer and seller of vehicles. Around one quarter of global sales in 2025 will be electric, confirming a structural shift toward the electrification of the vehicle fleet.
• In Colombia, 201,000 vehicles were sold in all of 2024 and, this year, by October, 200,000 have already been sold. In the year to October 2025, vehicle sales grew 30.2% compared with the same period in 2024. This year, monthly growth rates have been accelerating, with increases close to forty percent year-on-year in recent months.
• Over the last decade, the market has changed its composition: in the new-vehicle market, passenger cars have lost share while utility vehicles have gained participation. Utility vehicles currently account for more than half of new vehicle sales (56%). Regionally, intermediate cities have increased their share of new-vehicle sales in recent years.
• Alternative technologies are advancing rapidly. In the cumulative total to October 2025, hybrids and electric vehicles account for around thirty-four percent of new vehicle sales, with growth rates close to eighty percent compared with the previous year and a strong concentration in utility vehicles.
• The recent momentum has been explained by a more favorable economic context: lower interest rates and inflation, a solid labor market, remittances growing significantly, and a more favorable exchange rate for importing vehicles, among others. Some of these factors will continue to drive vehicle sales during the remainder of 2025 and in 2026.

Geographies

Topics

Tags