Sector’s decline, however, narrowed sharply compared to December
Automotive sales in Colombia fell 4.7% year-on-year to 16.399 units in January, CEEMarketWatch reported citing figures released by the National Business Association (ANDI). Although this is the third consecutive month of decline, sector’s decrease narrowed sharply compared to the 23.3% drop in sales registered in December. The January result is in line with the weak performance of the sector last year, when its sales slumped 6% due to low domestic demand.
On the positive side, the ANDI forecasted that automotive sales will grow by at least 5 % this year driven by the disinflation process and central bank’s rate cuts.
Sign in and read the full article in emis.com