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Automotive
The mission of the Automotive industry – one of the most globalised industries – is to provide safe and accessible transportation for the world’s increasing population. The industry is one of the main engines of economic growth, with important multiplier effects both in upstream sectors such as metal processing, chemicals, and textiles, and in downstream sectors like ICT, trade and services. It is also one of the biggest innovators on a global scale, rapidly adopting breakthrough technologies that address the need for more efficient and environmentally-friendly transport solutions.
The Automotive industry involves the manufacturing of bodies, engines, parts and whole vehicles for ground transportation. Such vehicles include motorcycles, cars, light commercial vehicles and heavy commercial vehicles.
Policy support, improving consumer awareness and rising affordability have been fuelling the global electric vehicle (EV) market for more than a decade now. With sales rising in double digits, EVs are gradually eating up into the market share of ...
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Colombia is Latin America's fifth-largest vehicle market in terms of sales. However, in recent years, the country has virtually lost all of its vehicle manufacturing base, contracting from a peak of four assemblers in the past decade to a single ...
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Latin America's role in the global automotive sector has diminished in the past ten years. In 2023, the region accounted for 7.6% of the world's production and 5.9% of global sales. Nine out of every ten vehicles manufactured in the region are made ...
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Entering Colombia's automotive sector can be strategically approached through various modes. For instance, foreign manufacturers, such as Divemotor, representing brands that include Mercedes-Benz, have entered the market to expand and diversify their ...
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The motor vehicle industry in Latin America continues to recover from the negative effects of the pandemic, but the recovery in 2021 and 2022 (both in output and domestic sales) was insufficient to reach the pre-pandemic volumes reported in 2019 ...
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The Colombian automotive industry is characterised by dissimilar levels of development at the segment level. Motorcycles are the main product of the Colombian automotive sector as the country kept its position as the second largest motorcycle ...
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