Buying goods in installments through a programmed purchase system is an option that is on the rise in Ecuador, at least in one of the two major segments it deals with: real estate and automotive. According to the latest data from the Chamber of Companies for Programmed Purchases (Aecop), from January to August, these acquisitions increased in the real estate sector, but suffered a contraction in the automotive sector.

Aecop, which consists of the companies Plan Automotor Ecuatoriano (ChevyPlan), Consorcio del Pichincha (Condelpi), Casaplan Motorplan, Globalplan and Comprasigma (Certero), which represent 65% of the programmed purchase market in the country, indicated that in During the analyzed period, is more than 4,300 goods, including homes and vehicles, with the latter being the majority with 4,229 new and used vehicles, with March, May and August being the months with the most awards at 41.31% of the total. However, the delivered vehicles represent -3.76% of those allocated in the same period in 2022 (4394 vehicles).

Mauricio Peña, CEO of Aecop, explained that this slowdown coincides with the drop in sales shown by the automotive industry from January to September, which also affects scheduled purchases. “In addition, there is a significant growth of unregistered informal activities that create underreporting of sales,” Peña complained.

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According to the latest figures from the Association of Automobile Companies of Ecuador (Aeada), vehicles sold between January and September this year 2023 reached 102,727, taking into account new units and although this is 2% more than the same period in 2022, sales in the third quarter were not good because it fell by 12%.

The union reported that there were almost 4,500 fewer sales in this third quarter, since 37,138 new vehicles were sold in the same period in 2022, and now 32,641. In September alone, the drop is 20%. In 2022, 13,358 units were sold during that month and 10,651 last month.

Delivery of apartments increased by 10%

In the case of the real estate sector, the companies that make up Aecop allocated 95 new properties and 23 second-hand properties, with a total of 118 homes delivered, representing a growth of 10.28% compared to 107 homes delivered in the same period from 2022.

The leader emphasized that this system of programmed procurement currently represents 7% of total car sales. He explained that it works by forming groups of buyers whose goal is to distribute goods through a raffle, scheduled delivery, or advance payment (auction, bid, score, or contest).

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He added that since its inception, more than twelve years ago, the companies that make up Aecop have collectively delivered more than 120,000 vehicles and more than 3,000 homes, giving its customers access to low-cost home ownership with savings of at least 12%.

“Purchasing a vehicle or real estate through the programmed purchase mechanism represents an opportunity for Ecuadorian families to invest in assets, which in turn strengthens the country’s economy and improves the quality of life of society,” Peña noted.