2016 records the worst car sales rate of the past decade in Ecuador

Car sales are going through the worst moment of the past decade. During the first five months of this year 24,078 imported cars and of domestic manufacturing, ie, a 41% less than in the same period of 2015, according to data from the Chamber of the Automotive Industry of Ecuador were sold.

This is the lowest figure -compared with the same period- over the last 10 years, less than that recorded in 2007. For the executive director of the guild, David Molina, while last year a decrease of sales was recorded, the cause is different in 2016.

In 2015 there was a contraction due to import quotas. Today, however, the problem lies primarily in the demand. According to him, buying a vehicle requires, in many cases, financing, but consumers now think about the capacity to pay that debt because of the economic crisis.

Source: http://www.elcomercio.com/actualidad/ecuador-venta-vehiculos-economia-negocios.html