Colombia. The multinational has been present for more than 5 decades in Colombia.
For 55 years, Renault-Sofasa has provided the country with mobility solutions through different models in the market, making products and services available to customers to make their goals a reality.
Currently, Renault-Sofasa is a business group made up of five Renault Group subsidiaries in Colombia: Renault-Sofasa, Mobilize Financial Services, Renault Plan Rombo, Renault Renting and its Renault Foundation, which celebrates 10 years in the country in 2024.
"Whoever buys Renault can feel truly proud because not only does it acquire a vehicle assembled in its own country, but it also contributes to boosting the national economy and generating 7,000 decent and quality jobs in our value chain." Says Ariel Montenegro, president and CEO of Renault-Sofasa.
In 2023, the automotive industry accounted for 7% of the country's industrial GDP and is one of the industries that generates the most productive chains. According to statistics from the Ministry of Finance, one peso invested in the manufacture of a motor vehicle generates 2.6 pesos in the total production of the economy; in addition, for every 1,000 million pesos (COP) allocated to the production of these goods, 18 additional jobs are generated.
In the case of Renault-Sofasa, the only light vehicle assembler in the country, it accounted for 70% of the national assembly in 2023. In addition, its production process generates a multiplier effect in the regions, since its 34 auto parts suppliers are distributed nationwide, generating an impact on the economy in the Departments of Antioquia, Valle del Cauca, Caldas, Santander and Bogotá D.C.
These figures demonstrate the effect that the automotive industry has on the sustainable and economic development of the country.
In 2014, Colombia had four assembly plants: Renault-Sofasa, Colmotores, HINO and CCA. That year, CCA ceased its industrial activities in the country and, ten years later, GM Colmotores announced its closure, which could mean that only two production plants remain operational: Renault-Sofasa, which assembles light vehicles, and HINO, specialized in truck production.
To ensure its permanence in the country, Renault-Sofasa has dedicated significant efforts in recent years to strengthening its value chain in terms of technology, automation and its human talent.
"Currently, Renault-Sofasa is the only assembler in Colombia of light vehicles and for us it is worrying because the competitiveness of the industry depends to a large extent on technology and the volume of competitors. We need to have more anchor companies that attract investment, generate volume and allow the ecosystem to develop. We don't like to be 70% of the national assembly; on the contrary, it worries us," said Ariel Montenegro.
For this reason, the multinational continues on the path of technological innovation and good business practices within the automotive sector, consolidating itself in the country that has welcomed it as its own.
Likewise, the company called for promoting the automotive industry in Colombia in terms of attracting investment and export competitiveness, since it is vital to protect the value chain, starting with auto parts with actions such as soft loans, tax incentives for capital investment and technological updating to improve export competitiveness and face the energy transition.
"It is crucial that we take action and react. We must actively address this issue, transforming conversations into concrete actions. We are proud to celebrate 55 years in the country and we want to continue to be so for 55 more years," said Ariel Montenegro.
