Sale of new vehicles in Ecuador in five months has remained at levels close to those prior to the COVID-19 pandemic

The automotive sector was one of the most affected during the restrictions that were applied at the beginning of the COVID-19 pandemic. This was reflected in the figures published monthly by the sector through the Association of Automotive Companies of Ecuador (Aeade).

Now after almost two years of the situation, 2021 has marked a rebound in sales, bringing it closer to the levels that were recorded in pre-pandemic months.

Between June and October 2021, 54,200 new vehicles have been sold (just over 10,000 per month) while in the same period but in 2020, 39,508 had been sold. In 2018 and 2019, before the COVID-19 pandemic, 58,477 and 57,106 units were sold in the same months.

The Aeade in its information, with data from October, mentions that compared to the previous month there was a reduction in sales compared to the previous month where the shortage of semiconductors in automotive factories, the high demand for containers in the world and the problems registered by the National Transit Agency (ANT).

Last October, Genaro Baldeón, executive president of Aaede, indicated that there are high expectations for various brands, which would allow maintaining new vehicle sales of more than 10,000 units per month. In addition, it was estimated that at the end of this year, sales of around 118,000 vehicles could be achieved.

At the brand level, Chevrolet remains the one that has sold the most units so far this year with 20,472 units, followed by Kia with 15,127 vehicles.

In addition, Ecuadorians have also bought vehicles of the brand Hyundai (6,608), Toyota (5,770), Great Wall (4,484), Chery (4,419), JAC (4,387), Renault (4,323), Nissan (3,221).

With regard to electric vehicles, these have had a greater commercialization in the last year. Precisely the Organic Law of Economic Development and Fiscal Sustainability established the exoneration of the tax on special consumption (ICE), which would reduce the price of the same.

Baldeón indicated that this reduction will be seen from 2022 although the ICE exemption was already contemplated for units of up to $ 35,000.

According to Aeade figures, 2021 is so far the year where more electric vehicles have been sold, registering 220 until October. In all of 2020 the figure reached 106 and in 2019 it was 103. (I)