Colombia March Car Sales Decline 5.5% On Year To 30,549 Units

Colombia vehicle sales saw a rare decline in March, retreating 5.5% compared with a year ago, the latest indication that the country's robust economy is beginning a moderate slow down.

Data released Monday by the industry group Comite Automotor indicated 30,549 units were sold last month compared with 32,320 units sold in March 2.011.

Colombia's healthy economy led by booming oil and coal sectors, as well as a strong local currency, helped push vehicles sales to record levels for each of the past two years, with 2.011 purchases totaling 324,570 units.

Despite the blip in March, car sales remain strong this year. 

Through the first three months, sales are 4% higher from that period last year, putting 2.012 on track for another possible record year.

The strength in the Colombian peso, it's 9% stronger against the dollar in 2.012, has made cars more affordable to the average Colombian since the vehicles include many imported parts.

But March's year-on year decline in auto sales comes amid lower-than-expected retail sales for January. 

And overall economic growth in the fourth quarter slowed to 6.1% on year after activity expanded 7.7% in the third quarter, all of which could be signs that the economy's growth spurt has peaked.

Comite Automotor's statistics cover more than 90% of the vehicles sold in Colombia, including buses, private vehicles, taxis and trucks.

Y esa venta seguirá bajando porque no se hacen vías y porque se cobran combustibles muy costosos y ya la gente no resiste más esos desaforados precios, la industria no solo debe pensar en el beneficio económico, sino en el beneficio de la gente.

And that sales will continue to decline because there are no new roads in the cities and because they charge very expensive fuels and already more and more people do not resist these outrageous prices, the industry must not only think about profit, but for the benefit of people.