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Electric Drive Vehicles Market
The Government of Colombia (GOC) announced in April 2017 that the importation of electric vehicles will not pay an import tariff and the Value Added Tax (VAT) will be 5%. GOC approved the importation of 46,000 electric and hybrid vehicles under this benefit within the following 10 years (staring in 2017 with a quota of 3,000 vehicles). Electric vehicles offer opportunities for U.S. exporters, especially in the public transportation arena. Such vehicles would have to have the requisite power to climb steep hills at elevation with a full passenger load.
Heavy Duty Market
The Fourth Generation (4G) program (infrastructure project) envisions a USD 16 billion investment to build over 4,400 miles of new roads, 88 miles of tunnels, and 94 miles of bridges before the end of the decade. The 4G contracts are based on the Public Private Partnership law. The program could demand heavy-duty vehicles. All trucks imported and distributed in Colombia (commercial vehicles for passenger and freight) should comply with Euro V standards or above.
Specialty Equipment Market
In Colombia, it is legal to customize a vehicle. Among some of the things that Colombian consumers like to customize in their vehicles are: engine performance (components), electronics (audio, video), lighting, tire accessories, wheels (rims), painting, and other interior and exterior accessories.
Used and Remanufactured Market
Colombia does not allow import of used vehicles or motorcycles. The Andean Automotive Policy bans imports from other countries of used cars, trucks, motorcycles and buses, as well as new vehicles from previous years. The imports of used auto parts from other countries is also banned.
With the implementation of the FTA with the U.S., Colombia is accepting remanufactured auto parts listed under Chapter Four, Rules of Origin and Origin Procedures, Section A-Rules of Origin. The country is formulating policies to allow the import of remanufactured products to meet commitments under its FTA with the United States.
For More Information about exporting to Colombia contact:
Norcia Ward
Commercial Specialist - Global Auto & Smart Mobility Team
U.S. Embassy Bogota, Colombia
+57-1-275-2703
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