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8 Dec 19

WIKIFLEET: Chile, Colombia, and Peru market updates

As the year comes to an end, one of the focuses of Fleet LatAm recently is making a few updates to some of its Wikifleet pages. Among those receiving the latest changes were those in the Andes region of South America, all of which are showing attention to sustainability.

In Colombia, the country saw a record in August (2019) of 23,306 vehicles sold, up 8.7% compared to the same month last year. And according to its Wikifleet page, electric vehicles are starting to make their way into the market. 

In the first semester of 2019, nearly 23,000 electrified vehicles were registered in the country but only 200 or so were full electric. 
One of the most recent government actions toward sustainable mobility is decree No. 2051 which was passed by the Ministries of Environment, Trade, and Finance in November (2019). It reduces the import tariff on natural gas vehicles to 5% from 35% and omits tariffs on all-electric vehicles (EV). 

As for the economy, although the country’s benchmark interest rate and inflation in October (2019) were reasonable at 4.25% and 3.86% respectively, the country’s unemployment rate of 9.8% could be improved a bit.

2020 Nissan Leaf, one of the full-electric model options being offered in Latin America (source: Nissan)

Meanwhile in Chile, although civil unrest in the streets of Santiago has been hitting the headlines lately, the country looks to be in fairly good shape considering interest, inflation and unemployment were pegged at 1.75%, 2.5%, and 7% respectively in October.

When it comes to safety and sustainability, besides being one of the best ranked in terms of requiring the most safety features for its cars, its Environment Ministry is working toward implementing the new Euro 6 standard for both diesel and gasoline vehicles entering the country, according to Chile Wikifleet.

In Peru, with interest, inflation, and unemployment at 2.25%, 1.88%, and 6.4%, the economy – except for lower salaries – is similar to Chile. However, when compared to most of its South American neighbors, one thing lacking in Peru is adequate vehicle safety standards.

In terms of sustainability, the country’s Ministry of Energy and Mining is trying to push EV sales. This year, the ministry is awarding bonuses to individuals or companies acquiring these types of vehicles.

Moreover, according to Peru Wikifleet, the Ministry of Economy and Finance has also passed a decree which eliminates the ISC excise tax for those renewing their car parks with hybrids or EVs.

As we can see, although safety and security are one of the more common concerns of governments in South America, there is a move toward being more sustainable and “green” throughout the region. As long as economies remain in healthy shape, expect this trend to continue on into 2020.


Authored by: Daniel Bland