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Bolivia 2020. Market down over 40% as the country is heavily affected by the pandemic

Bolivian vehicles market in 2020 plummeted while COVID-19 hit the country, and still haven’t recovered effectively yet. Indeed, 2.068 units have been sold in September (-17%), leading Year to Date sales at 11.626 units (-42.4%). The leader Suzuki holds 21.7% share.
Economic Environment
GDP shrank at a record annual pace of 21.7% in Q2 (Q1: +0.6% YoY) amid plunging domestic demand and collapsing exports due to the Covid-19 fallout. Turning to Q3, available data paints a still-downbeat picture. Economic activity contracted more sharply in August, with the construction, transport, and mining sectors hit the hardest.
Moreover, a higher unemployment rate in Q3, coupled with lingering Covid-19 restrictions, bodes ill for private consumption. In politics, Luis Arce, the candidate for former President Morales’ MAS party, won 55% of the votes in the presidential election re-run held on 18 October, securing a first-round victory.
However, MAS did not reach a two-thirds majority in the Legislative Assembly, which could hinder the full implementation of Arce’s agenda of boosting public investment. In the near term, dealing with the impact of the pandemic will likely be his first priority.
Market Trend Year to Date
The Bolivian vehicles market remains heavily influenced by the COVID-19 crisis as cases in the country started growing exponentially in May. Indeed, in September 2.068 units have been sold (-17%), leading Year to Date sales at 11.626, a 42.4% decrease compared to the previous year.
Brand-wise, Suzuki remains the leader, holding 21.7% market share, followed by Renault with 11.8% share and Nissan with 7.8% share.
Medium-Term Market Trend
The automotive industry in 2018 has been stable, with sales up a mere 4% from the previous year, when the introduction of new limits for imported vehicles emission has hit the market, breaking the outstanding series of 12 consecutive record years, with a drop near 20% from the 2016 record.
After having stabilized, the market in 2018 was flat at 34.000 units, despite the strong battle for market share among all players – over 180 – distributed in the country.
After being stable in 2018, the Bolivian vehicle market took a hit in 2019. In fact, 20.7% fewer units were sold, with only 29.884 sales.
Tables with sales figures
In the tables below we report sales for the Top 10 Brands

What You May Need to File a Car Accident Injury Claim
Wednesday November 18, 2020

While on the road, the least of your expectations should be a car accident. Car accidents happen every day, caused by several factors, including bad roads, careless driving from other parties, drunk driving, or other causes. Any car accident needs to be looked into carefully for compensation. Whether it’s you who caused it or the […]

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Too many highlights from Niall Ferguson’s The Ascent of Money
Monday September 28, 2020

I read this book more than 5 years ago and recently decided to revisit my Kindle highlights from it. In those 5 years, Niall has updated the book and released a 10th anniversary edition which has a chapter on bitcoin and cryptocurrencies. (it seems he caught the bug, from his son! 🙂 I might buy […]

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