Has the bubble been punctured? Production and sales of cars fell | Economy

Was the bubble punctured? The production and sales of cars collapsed

Car production, which experienced an inexplicable increase, recorded in June a decrease of 13.4% compared to the same period of 2017. In this sense, sales to the domestic market have a sharp decline of 31%.

The Association of Automobile Manufacturers (ADEFA), the entity that groups local terminals, reported that in June, the national production of vehicles was 39,420 units, or 15.8 % less than last May.

According to ADEFA, 22,894 vehicles were exported, which means a growth of 6.8% compared to May, and an increase of 16.2% compared to June 2017.

55,358 units were sold 26.9% below the figure recorded in May. The entity estimated that it was 31% lower than the performance of June last year.

Experts explain that the sharp drop is due to the increase in the percentage of funding rates.