The figures compared to last year are positive. Photo: Archive
The automotive sector in the Aburrá Valley is experiencing an outstanding moment, with an increase in 43% in vehicle registrations during October 2024 compared to the same month of the previous year.
This figure, which translates into the sale of 3,203 units only in Medellín, reflects a positive trend in a market that continues to show growth despite recent economic challenges.
According to the analysis carried out by Fenalco and the National Association of Businessmen of Colombia (ANDI)the outlook is even more encouraging at the national level. In total, more than 18,500 new vehicles in Colombia during October, and Antioquia is positioned as the third department with the most registrations, reaching a total of 3,411 unitswhich represents an increase in 44.2 percent compared to October 2023.
This growth is indicative of the recovery of the sector and also anticipates a positive end to the year. With more than 153,000 units sold until October, it is estimated that the final figure could be close to 200,000 units at the end of the year, a goal that had not been achieved for several years.
The analysis by Fenalco and ANDI also reveals that, in the country, the growth in sales of new vehicles was 34 percent in October 2024 compared to the same month last year. However, there is a decrease in 18 percent compared to October 2022. This contrast suggests that, although the sector is recovering, the after-effects of previous economic crises are still being overcome.
One of the factors that has contributed to this increase is the improvement in inventory availability and the reduction in delivery times, something that had seriously affected consumers in previous years. In addition, the diversification of the vehicle offering, including more affordable options and electric models, has attracted a broader segment of the market.
2024-11-04 22:29:00
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**Interview with Juan Carlos Torres, Automotive Industry Expert**
**Editor:** Juan Carlos, it’s great to have you here to discuss the recent surge in vehicle registrations in the Aburrá Valley. What do you attribute this impressive 43% increase in registrations for October 2024 compared to last year?
**Juan Carlos Torres:** Thank you for having me! Several factors contribute to this growth. Firstly, we’ve seen a significant recovery in consumer confidence, which is vital for the automotive sector. Additionally, financing options have become more accessible, making it easier for consumers to purchase new vehicles.
**Editor:** That makes sense. The sale of over 3,200 units in Medellín alone is quite remarkable. How does this figure compare with trends you’ve observed in the broader automotive market?
**Juan Carlos Torres:** Indeed, this is a strong figure. Nationally, we are witnessing similar trends, but the Aburrá Valley seems to be particularly vigorous. This region has always been an automotive hub, and the local economy’s resilience plays a key role in outperforming national averages.
**Editor:** You mentioned economic challenges earlier. How have these challenges impacted the automotive sector, if at all?
**Juan Carlos Torres:** While the sector has faced economic headwinds, such as inflation and supply chain disruptions, the automotive industry has adapted. Many companies have diversified their offerings and improved after-sales services, which has helped maintain their customer base and foster growth.
**Editor:** Looking ahead, do you think this positive trend will continue?
**Juan Carlos Torres:** I believe so. As long as the economic conditions remain favorable—particularly in terms of interest rates and consumer spending—we can expect continued growth in the automotive sector in the Aburrá Valley.
**Editor:** Thank you, Juan Carlos. It’s fascinating to hear your insights on the automotive sector’s resilience and growth in the Aburrá Valley.
**Juan Carlos Torres:** Thank you for having me! It’s always a pleasure to discuss the advancements in our industry.
