"Colombia Autos Report 2015" now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Mon Dec 08 2014

BMI forecasts vehicle sales in Colombia to increase 6% in 2014 on the back of steady improvements in the economy and low base effects from declining sales in 2013. We expect this positive momentum to continue into 2015, predicting another year of 6% growth. In terms of Colombia's vehicle production, we forecast growth of 4.5% and 4.0% in 2014 and 2015 respectively.

In April 2014, the Colombian government announced plans to cut tariffs on imported autos components in a bid to make domestically-produced cars competitive with imported vehicles. The domestic autos industry is relatively nascent, relying chiefly on imported components and CKD assembly, with little high value-added manufacturing taking place in the country. BMI believes that, while the reduced tariffs may help reduce costs somewhat, a number of structural inefficiencies remain in the market, hindering automakers. These will therefore be unlikely to compete with imported vehicles for the time being.

Full Report Details at
- http://www.fastmr.com/prod/912280_colombia_autos_report_2015.aspx?afid=302

A number of international auto manufacturers currently produce vehicles in Colombia. General Motors (GM), based in Bogotá, has an annual capacity of about 100,000 units and assembles some GM Korea vehicles from complete knock-down (CKD) kits. Renault, based in Medellín, with an annual capacity of 80,000, assembles CKD kits bought from Turkey, France, Spain and Brazil. Mazda Motor, also based in Bogotá, with a capacity of 15,000 units annually, builds up the 2, 3 and BT50 pickup trucks. German automaker Daimler's subsidiary Daimler Colombia operates a CKD assembly facility in Bogotá, producing the Mercedes-Benz Atego 1016 and Thomas Built EF 1723 bus chassis. Further, GM is currently building a stamping plant in Bogotá to make and export the body sections of the Aveo Sonic.

The Colombia Autos Report features the latest data and forecasts covering production, sales, imports and exports.

Business Monitor International (BMI)'s Colombia Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Colombia.

Key Benefits

* Benchmark BMI's independent automotives industry forecasts on Colombia to test other views - a key input for successful budgetary and planning in the Colombian automotives market.
* Target business opportunities and risks in the Colombian automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Colombia.
* Assess the activities and market position of your competitors, partners and clients via our Competitive Landscape Analysis.


BMI Industry View

Summary of BMI's key industry forecasts and views, covering production, sales and the introduction of new technology or products.

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Contact Name: Bill Thompson
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