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Slowdown of the automotive market in Colombia

Colombia. After General Motors' announcement about the closure of its assembly plant in this country, the National Association of Entrepreneurs of Colombia (ANDI), calls on the National Government to give a boost to the industry.

According to figures from Fenalco and ANDI, the automotive market has slowed down by more than 30% since 2018. The national automotive industry went from having 23% in the national market to having 14% in 2023.

That is why ANDI emphasized its request to the National Government. "The call is to generate a regulatory environment that reactivates assembly, sales of vehicles with local content and encourages investment for the arrival of new industrial projects with an export vocation: becoming a competitive export hub for Latin America is the only sure way for the national automotive industry to guarantee its sustainability in the future. taking into account the reality of a sector of global competition".

In addition, ANDI added to its request that this is a joint work, which must be carried out to strengthen the business fabric of this industrial sector in the country. This sector has more than 10,000 direct and indirect jobs and more than 290 suppliers of parts and pieces for assembly.

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The national automotive industry continues with the commitment to strengthen assembly in Colombia. It is of utmost importance to strengthen linkages with the auto parts industry, attract investment and competitive exports, as well as research and capacity building, to strengthen the entire production chain of the sector.

Laura Restrepo
Author: Laura Restrepo
Editora en Latin Press, Inc.
Comunicadora social y periodista apasionada por las letras e historias. [email protected]

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