Ecuador: Despite drop in sales, Chevrolet to invest $100 million over next five years

ELCOMERCIO.COM/americaeconomia.com reported some US $ 100 million for new products will reverse the Chevrolet brand cars in the next five years in the country, which will involve the creation of production lines at its plant and the launch in 2017 of new local assembly (now 80% is assembly and 20% imported).

The announcement was made Tuesday night Luis Enrique Landinez, CEO of General Motors OBB of Ecuador, in celebration of the 90th anniversary of the brand in Guayaquil Rodolfo Baquerizo square. The company chose the local port because there, in 1926, he entered his first car to Ecuador. Also, in Guayaquil, Chevrolet has the highest market share of the country, with 51%, Landinez said.

Chevrolet executives, including the CEO of General Motors South America, Barry Engle, participated earlier in a discussion with media. There Landinez said that despite the economic scenario, the most difficult part, the first quarter is over and a recovery begins.

THINKING OF MOVING TO ECUADOR – READ THIS BOOK

In those months sales fell to 4,000 units per month when in 2015, for example, exceeded 12,000. In August, they rose to 5,400 units. The industry expects to close 2016 with 60,000 units, half of sales in 2014 (120,000) and 27% less than in 2015 (82,000). Read Article