According to market analysts, the auto parts business for all types of vehicles is expected to grow 20 percent this year compared to last year, despite the greater uncertainty, the slowdown in the economy and the lower sales of vehicles that are expected for the present year. According to the Single National Traffic Registry (Runt), at the end of May 2023, there was a 30.1 percent decrease in new vehicle registrations in the country.
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According to data from CVN, a Colombian company that integrates AI, Machine Learning and Big Data tools for market intelligence, said market had a 25 percent annual growth in auto parts sales in 2022, which meant a turnover of 18,135 million. of pesos.
Other market segments whose turnover was below the auto parts manufacturer were trade in motorcycles and their parts, with sales in the order of 6,143 million pesos); manufacture of parts and accessories for motor vehicles (2,751 million); retail trade of lubricants, additives and cleaning products for motor vehicles (1,976 million), and lastly, the manufacture of rubber tires and tires, which reported a turnover of 543 million.
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According to the firm, to date there is a slowdown in imports in the country, since, in the first quarter of 2023, merchandise of this type was brought to the country for more than 66 million dollars, while this 2023 with a drop of 25.04 percent, there was a turnover of 49 million.
The countries that imported the most to Colombia were: China, which ranked first with about 47 percent of the market; United States, with 9.64 percent; Brazil (6.72 percent); Japan (4.25 percent); South Korea (3.92 percent); Mexico (3.42 percent), among others.
José Esteban Rojas, co-founder and general director of CVN, said that in 2022 the number of companies registered in the country for trade and manufacturing activities of parts, pieces and accessories for motor vehicles was 10,692, of which 82 percent are micro-enterprises and generate 12 percent of the income in this sector, while large companies generate 57 percent of that income.
“I must emphasize that the OEM market (original equipment manufacturers) presents different challenges than the replacement market, which must clearly identify the opportunities in each segment of parts, luxuries, accessories and related services to be able to bet on its growth in the coming years,” said Rojas.
According to the expert, this also meant a hook for the growth of imports that entered the country, which totaled 2,490 million dollars, with a growth of 25.34 percent. As to the products that entered the most were pneumatic tires for buses or trucks, automobiles and motorcycles, which accounted for 21.26 percent of the income.
It is followed by other categories such as motorcycle parts and accessories (2.83 percent); ball bearing (2.22 percent); apparatus for filtering lubricants or motor fuels (1.59 percent), and electric accumulators (1.58 percent), among others.
Rojas argues that At times there is a high expectation for these exports to the Venezuelan market, after the trade between Colombia and Venezuela opens the main land border crossings which allowed 3.4 million dollars to be added in the first three months of 2023, which represented 25 percent more than what it sold last year.
