Colombia auto sales jump 43% in May, but 2026 outlook dips on high rates

Colombia’s new vehicle sales surged 43% year-on-year in May 2026 to 28,136 units, industry associations ANDI and FENALCO reported Monday, driven by resilient consumer spending and a strong peso. May sales topped 19,707 a year earlier and rose 5% from April’s 26,787. January-to-May sales reached 128,582 units, up 48% from the same period in 2025. However, the groups projected full-year 2026 sales of just 250,000 vehicles, below the 254,205 sold in 2025, signaling a second-half slowdown. The cautious forecast reflects tightening monetary policy. Colombia’s economy expanded 2.2% in the first quarter, but the central bank raised its benchmark rate by 200 basis points between January and March to 11.25% to combat above-target inflation, raising car loan costs.