Vehicle sales have fallen by 30% in 2015

Image: El Comercio

According to data from the Association of Automotive Companies of Ecuador (Aeade) between January and November were sold in the country. This represents about a 30% less than the same period of 2014, when 108,000 units of all segments were sold.

However, the drop in sales at the end of the year is projected by 31%, as the total forecast fell from 85 000 to 83 000 units. That is, about 37 000 units less compared to the previous year.

The president of the Aeade, Gloria Navas, said that the main cause of the drop in sales are the quotas. The quota was approximately lowered from 127 000 units for 2014 to 84 000 units for this year, between domestic and imported vehicles.

Factors like the indecision of customers to buy due to the difficult economic situation in the country is added. She notes that there is also a credit restriction in the banking thus the vehicles sales have dropped.

Translated into English by Pierina Abad

Source: http://www.elcomercio.com/actualidad/comercio-ventas-vehiculos-economia.html