Automotive latest publications
New vehicle sales were stronger than expected in 2Q, resulting in an upward revision to our annual forecast. However, sales were still 33.7% below the levels observed in 2Q19, the worst decline since 2Q09.
COVID-19 will have a negative impact on vehicle sales through 2020 due to lockdowns and economic contraction. The worst impact is likely to be felt in 2Q.
In the last 25 years, the Mexican automotive sector has been a success story. The sector (which includes auto parts) is of great importance for the Mexican economy.
New vehicle sales were 16.9 million in 2019, 1.7% less than in 2018. Although still solid, 2019 sales were the lowest since 2014. We expect new car sales to slow down further in 2020, due to slower economic growth and less affordable vehicles.
The automotive market was unable to recover from the sharp fall in 2018 due to the exchange and financial tensions that occurred during 2019, the loss of purchasing power and a significantly astringent monetary policy.
Solid but stable new vehicle sales through 3Q19. A robust supply of “off-leasing” units and access to credit support sales of used vehicles. Consumer credit remains healthy, although delinquencies keep growing.
This presentation deals with the recent performance and outlook for 2019-2020 of the Colombian economy and automotive sector. Households that buy cars and motorcycles in Colombia are profiled from the Household Budget Survey published in 2018 by DANE.
We maintain our 2018 vehicle sales growth projection (5.1%) despite the fact that the accumulated annual increase to July has been lower. The automotive fair and the improved performance of consumption in the second half of 2018 will boost this growth. The momentum of sales in 2019 will be even greater.