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Vehicle sales plummeted in April with VAT at 15% – 2024-05-11 08:01:21

2024-05-11 08:01:21

In April 2024, with the increase from 12% to 15%, 8,179 vehicles were sold. This is the lowest sales record in the last 16 months. In the first quarter of this year, the drop in the sale of vehicles is 15% compared to the same period in 2023. Only in the motorcycle category was more sold.

In March 2024, before the VAT increase from 12% to 15%, there was a rebound in sale of automobiles (13,447 units sold). Ecuadorians took advantage of the promotions and lower prices before the higher taxes were imposed.

In contrast, in April 2024, already with VAT at 15%, sales plummeted and reached the lowest record in the last 16 months, with a total of 8,179 units.

In other words, according to the latest report from the Association of Automotive Companies of Ecuador (Aeade), in April of this year it was sold 39% less than in March. If compared to April 2023, the drop is almost 29%.

In all of 2024, 6,849 fewer vehicles have been sold than in 2023

If we compare the first quarter of 2024 (January to April), a total of 6,849 have been sold. vehicles less than in the same period in 2023. In total, 39,974 cars have been sold this year.

Sales declines were also recorded among the five best-selling vehicle brands. So, Chevrolet sold 7,462 units between January and April 2024 (almost 13% less than in 2023); Come on sold 6,005 units (22% less than in 2023); Toyota sold 2,557 vehicles (19% less than in 2023); Hyundai sold 2,088 units (14% less than in 2023); and Chery sold 1,851 vehicles (23% less than in 2023).

Contrary to the other categories, in the case of motorcycles an 11% increase in sales was recorded; going from 59,299 units to 66,051 units sold in the first quarter of 2024.

The best-selling motorcycle brands were: Shineray (10,839 units); Daytona (7,716 units); IGM (4,329 units); Bajaj (4,243 units) and Ranger (3,172 units). (J.S.)

Source: Diario la HORA

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