In 20 provinces, vehicle sales fell in 2023, in Esmeraldas it was halved

In 2023, new vehicle sales in Ecuador fell by 2% to 132,402 units sold, the Association of Automobile Companies of Ecuador (Aeade) confirmed, revealing last December’s year-end figures for the sector that confirm projections. which were adopted in November about the decline in demand that began to be felt from the second half of last year.

In this way, the automotive sector also confirms the setback in its initial projections, which had expected growth between 2% and 5%. According to Aeade, based on figures from the Tax Administration (SRI), in the first half of the year, sales increased by 11%, but in the second half of 2023, the decline amounted to 13%.

Sales of electrified vehicles and motorcycles are unique in the automotive sector, which have not decreased

Three light segments (cars, pick up and SUV) recorded a decline in sales. However, cars and trucks suffered the most. (pick up), with a decrease of 4.3% and 3.3% respectively. Meanwhile, in the segment of commercial vehicles (buses, vans and trucks), sales stagnated with a imperceptible growth of 0.2%. However, trucks – a segment that reflects the activity of the country’s manufacturing apparatus – contracted by 10%. The commercialization of vans and buses grew.

The Aeada report also highlights the impact by province. Sales in the Coast region fell 6%, while in the Sierra region they rose 0.4%.

This is the sales of vehicles in 2023 by province:

With a zero tariff, European vehicles still pay other taxes that represent up to 24% of their price in Ecuador

Genaro Baldeón, executive president of Aeade, pointed out that despite the decrease, the commercialization of electric and hybrid vehicles increased by 73%. Meanwhile, the growth in demand for motorcycles in the Ecuadorian market continues. In December, 13,997 motorcycles were sold, and 2023 ended with a cumulative growth of 5%.