Sunday, December 10, 2023

Motorcycle sales figures at the end of August were not encouraging

“I assured the sale, but the woman was not approved for credit,” said a sales executive of a motorcycle brand in Bogotá.

“The credit is only for 30% of the total amount, but they didn’t give it,” he added.

Although the situation seems isolated, it is enough to look at the motorcycle sales figures at the end of August to see that the truth is not easy: In the first eight months of the year “450,795 new motorcycles were installed in the country, with a decrease of 19.7% compared to the same period in 2022”, when 561,467 units were invoiced, according to the report of Andi and Fenalco.

Read Also:  BYD Peru to manufacture electric, hybrid and battery cars in Brazil to supply markets in the region | Mexico | Spain | United States | wheel nuts

In fact, the report of the union maintains that “the motorcycle sector remains in negative territory, with a slight improvement in the month of August, driven by factors such as high interest rates, access to credit and the slowdown of economy.. In addition to the difficulties for new motorcycle buyers to buy Soat in some regions.

The country has become increasingly hostile to allowing the movement of its citizens. This market, which is also an important job generator because there are eight assemblers in the country and the jobs created around these vehicles are counted in thousands throughout the country, is not experiencing its best moment.

Read Also:  Thailand EV Market Impressive Growth in First Half of 2023

In fact, the dreams of “putting a million motorcycles a year” have been abandoned, because this year it seems to close a number in the order of 600 thousand, closer to half of its goal .

In the case of the motorcycle category, there is also a decrease of 18.8% in the cumulative year compared to 2022.

And a similar situation occurred in the category of electric mopeds, which contracted by 24.2% cumulatively for the year.

Last August alone, 56,060 units were invoiced, while in the same month of 2022 the number was 76,123 units.

The speed of change in this market could destroy the aspirations of making the country an export hub for motorcycles of different brands for the American and Caribbean markets.

Read Also:  MG4 Cross, a unique electric hatchback that is now available in Colombia
Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news