The motorcycles are the second most used vehicles after cars in the country, according to data from the National Institute of Statistics and Censuses (INEC), which has led the industry to stimulate and encourage local production. However, since the end of 2015 and in 2016, this was adversely affected by a period of economic recession in the country.
Despite this situation, there has been an improvement in the sector in both sales and imports in recent months. President of the Association of Motorcycle and Allied Assembly Companies (Aeame) Oswaldo Landázuri said that in July of this year there was an increase in the demand for motorcycles by 84% compared to 2016. The elimination of import taxes and the decrease of the Value Added Tax (VAT) from 14% to 12% caused a rebound in the sector. (I)