New Cars in Colombia
Summary
New Cars in Colombia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- New cars market consists of the retail sales/registrations of new passenger cars. Passenger cars include saloons, hatchbacks, SUVs, 4x4s, and light pickup vehicles. Market volume refers to the total number of cars sold in a year, while market value is calculated by multiplying the average retail selling price with the market volume.
- The Colombian new cars market recorded revenues of $4.5 billion in 2023, representing a negative compound annual growth rate (CAGR) of 4.5% between 2018 and 2023.
- Market consumption volumes declined with a negative CAGR of 4.6% between 2018 and 2023, to reach a total of 144.7 thousand units in 2023.
- The market contraction in 2023 is attributed to the high inflation, which eroded consumer purchasing power. Additionally, the Colombian peso’s depreciation exacerbated the situation by making imported vehicles more expensive, as new car prices increased in response to currency fluctuations. This discouraged potential buyers, particularly middle-income consumers.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the new cars market in Colombia
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the new cars market in Colombia
- Leading company profiles reveal details of key new cars market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Colombia new cars market with five year forecasts
- What was the size of the Colombia new cars market by value in 2023?
- What will be the size of the Colombia new cars market in 2028?
- What factors are affecting the strength of competition in the Colombia new cars market?
- How has the market performed over the last five years?
- What are the main segments that make up Colombia's new cars market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Market volume
- 1.4. Market volume forecast
- 1.5. Geography segmentation
- 1.6. Market share
- 1.7. Market rivalry
- 1.8. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 3.2. Market volume
- 4 Market Segmentation
- 4.1. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 5.2. Market volume forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What are the strategies of the leading players?
- 7.4. What are the strengths of the leading players?
- 8 Company Profiles
- 8.1. Renault-Nissan-Mitsubishi Alliance
- 8.2. Hyundai Motor Co
- 8.3. General Motors Co
- 8.4. Suzuki Motor Corp
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Colombia new cars market value: $ billion, 2018-23
- Table 2: Colombia new cars market volume: units, 2018-23
- Table 3: Colombia new cars market geography segmentation: $ billion, 2023
- Table 4: Colombia new cars market value forecast: $ billion, 2023-28
- Table 5: Colombia new cars market volume forecast: units, 2023-28
- Table 6: Colombia new cars market share: % share, by volume, 2023
- Table 7: Renault-Nissan-Mitsubishi Alliance: Key Facts
- Table 8: Hyundai Motor Co: Key Facts
- Table 9: Hyundai Motor Co: Annual Financial Ratios
- Table 10: Hyundai Motor Co: Key Employees
- Table 11: General Motors Co: Key Facts
- Table 12: General Motors Co: Annual Financial Ratios
- Table 13: General Motors Co: Key Employees
- Table 14: General Motors Co: Key Employees Continued
- Table 15: Suzuki Motor Corp: Key Facts
- Table 16: Suzuki Motor Corp: Annual Financial Ratios
- Table 17: Suzuki Motor Corp: Key Employees
- Table 18: Colombia Size of Population (million), 2019-23
- Table 19: Colombia Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 20: Colombia GDP (Current Prices, $ Billion), 2019-23
- Table 21: Colombia Inflation, 2019-23
- Table 22: Colombia Consumer Price Index (Absolute), 2019-23
- Table 23: Colombia Exchange Rate, 2018-23
- List of Figures
- Figure 1: Colombia new cars market value: $ billion, 2018-23
- Figure 2: Colombia new cars market volume: units, 2018-23
- Figure 3: Colombia new cars market geography segmentation: % share, by value, 2023
- Figure 4: Colombia new cars market value forecast: $ billion, 2023-28
- Figure 5: Colombia new cars market volume forecast: units, 2023-28
- Figure 6: Forces driving competition in the new cars market in Colombia, 2023
- Figure 7: Drivers of buyer power in the new cars market in Colombia, 2023
- Figure 8: Drivers of supplier power in the new cars market in Colombia, 2023
- Figure 9: Factors influencing the likelihood of new entrants in the new cars market in Colombia, 2023
- Figure 10: Factors influencing the threat of substitutes in the new cars market in Colombia, 2023
- Figure 11: Drivers of degree of rivalry in the new cars market in Colombia, 2023
- Figure 12: Colombia new cars market share: % share, by volume, 2023
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