Colombian vehicle sales, a key measuring stick for consumer activity, continued their meteoric rise in March reaching another all-time high, according to data released Wednesday by industry group Comite Automotor.
Vehicle sales for March at the wholesale level totaled 32,320, a 79% increase from that month of 2010. Sales through the first three months are up 58% from that period in 2010.
Last year was a record-breaker for vehicle sales in Colombia and 2011’s numbers are on pace to set another full-year record in a climate of heavy spending by consumers. The country’s central bank last month raised interest rates by another 25 basis points to 3.5%, which is aimed partially at preventing the economy from getting overheated.
Comite Automotor’s statistics cover more than 90% of the vehicles sold in Colombia, including buses, private vehicles, taxis and trucks.
(Dan Molinski / Dow Jones Newswires)
