Base Year
Historical Year
Forecast Year
The Colombia automotive market size is projected to expand at a CAGR of 3.90% between 2024 and 2032.
As per the Colombia automotive market analysis, the rise in environmental consciousness among the public, coupled with increased public investment in the production of electric vehicles, improved parking accessibility, and the expansion of charging networks, is fuelling the demand for electric vehicles. Furthermore, car manufacturers are introducing new electric vehicles in the region, further stimulating the Colombia automotive market growth.
For instance, in November 2022, Hyundai unveiled its first electric car in the region. Additionally, in February 2024, General Motors (GM) confirmed its plans to launch the all-new Chevy Blazer EV and Chevy Equinox EV in Colombia. GM also announced that these two fully electric vehicles will play a pivotal role in their electric vehicle strategy in South America.
Furthermore, the nation boasts a vast network of support firms that aid assembly companies, with approximately 600 companies involved in producing automotive parts and accessories, nearly 2,000 companies registered in automotive trade, and over 4,600 companies registered in vehicle maintenance and repair. Entrepreneurial endeavours in the automotive sector include the Chamber of the Automotive Industry of the National Association of Industrialists (ANDI), the National Association of Sustainable Mobility (ANDEMOS), the Colombian Association of Automotive Parts Manufacturers (ACOLFA), and the Automotive Sector and its Parts Association (ASOPARTES).
Colombia Automotive Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Vehicle Type
Market Breakup by Engine Type
Automotive manufacturers are focusing on expanding their line of automobiles equipped with intelligent features, further accelerating the transition towards electric vehicles.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Vehicle Type |
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| Breakup by Engine Type |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is estimated to grow at a CAGR of 3.90% between 2024 and 2032.
The key factors leading to the market expansion include the rise in passenger car sales, the surge in automobile production, and the introduction of new vehicle models.
The key trends aiding the market expansion include the growing integration of cutting-edge technologies and the escalating demand for electric vehicles.
The major vehicle types are hatchback, multi-purpose vehicle, sedan, and sports utility vehicle.
The major engine types in the market are hybrid and electric vehicles and internal combustion engine vehicle.
The major players in the market are Ford Motor Company, BMW AG, Mercedes-Benz Group AG, Toyota Motor Corp., Volkswagen AG, Nissan Motor Co. Ltd., Hyundai Motor Company, Honda Motor Co. Ltd, AB Volvo, Kia Corporation, Suzuki Motor Corp., and General Motors Company (Chevrolet), among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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