Colombia is one of the largest automotive markets in South America, next to Brazil and Argentina. Auto parts sales totaled USD 3.89 billion in 2016, a two percent annual decrease over 2015. Colombia currently ranks as the third largest automobile manufacturer in South America.
- Chevrolet (24 percent market share)
- Renault (20 percent market share)
- Kia in third place (10 percent market share).
- Nissan (7 percent market share).
Best prospects for automotive parts and accessories are:
- Brakes fluid
- Transmission shafts, bearings, gears
- Tires for small vehicles, trucks and buses
- Tire retreading equipment
- Tire recycling operators
- Engines and engine parts
- Insulated wire, cable
- Electrical parts
Quick Snapshot of India-Colombia Trade between Textiles Industry
- Colombia imported a total of USD 5 Billion-dollar worth of Auto-Components from the world in 2017.
- Auto-Components represent approximately 10%of Colombia’s total imports from the world.
- It is the 4th largest commodity imports by Colombia.
- India exported a total of USD 189 million worth of Auto-Components to Colombia which is a mere 4% of the total Auto-Components imports by Colombia.