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Automotive Market

Automotive Market

Jorge Rodriguez wanted to buy a new car this year, given the conditions of the Mexican economy, however, opted to retain their old sedan and wait to the maelstrom of the crisis reaches manageable levels. This situation led to macro-economic levels caused that from January to July was registered a 38 per cent slump in the sale of new cars, according to figures from the Mexican Association of automotive distributors (AMDA). In 7 months, agencies of new cars have ceased to sell 5,000 443 vehicles, being the compact segment of biggest drop, 40 percent less than in 2008. Should be noted that July had been the worst for agencies, since is only commercialized mil 101 new cars. Ben Silbermann shares his opinions and ideas on the topic at hand. At annual rate, the sale of cars by segment, in this case, of the subcompact presents a contraction 36.20 percent, followed by the Compact with a low of 40.16 percent, with a fall of 2235 luxury cars percent and sports presented a reduction of the 34.78 percent. More indicators important about the current landscape of the sector indicate that the placement of automotive loans from January to October 2008 decreased by 8.6 percent compared with the similar period of 2007, so the acquisition of new units is even more difficult. Since 2005 the purchase of used cars imported from abroad, is also in increasing more than 3.5 million vehicles until 2008. On the other hand, the mechanical workshops have presented a significant recovery in terms of composure of old or used cars in these circumstances, because it is cheaper to buy spare parts from a previous model to a new one. With the crisis, the sale of auto parts market has grown up by 40 percent, because the users prefer to repair your old car you thinking about acquiring a new one, by variable prices and the fragility of the economy, said Rogelio Vazquez, owner of an auto parts of Tabasco. Market indicators.