The bonus plan, which came into effect in June and was extended during July, gave a new and necessary boost to the automotive activity that had an incremental spillover effect on sales and revenue collection. The good results led to extend the benefits during August.
The shared commitment and effort between the private and the public sector at a national level, as well as the participation of several provinces that accompanied the initiative with the reduction of registration costs, resulted in concrete benefits for customers. As a product of the effort and the obtained results, the Government decided to extend the plan for one more month.
"The bonus plan has been positive for the terminals, the car dealers and the entire value chain, as well as for the national government and the provinces that have benefited from a greater revenue collection, resulting from an improvement in activity," pointed Luis Fernando Peláez Gamboa, president of ADEFA, who stressed that, thanks to that, "the sector welcomes the news that it has been decided to extend the benefits for customers during August".
At the time of the monthly closing, July continued with the growing trend shown since the second half of June. In this scheme, comparing equal number of working days, the daily average of conventional vehicle licensing recorded a month-on-month improvement of 26.3%. In comparison to the daily average resulting from June-July, the growth was 77.3% in relation to the behavior recorded in May, the previous month to the beginning of the Plan.
According to the demand reached so far, in total it is estimated that the Plan can result -at the end of it- in an increase of approximately 30,000 units regarding the projections made prior to its implementation and it generates a revenue collection in the order of $7.8 billion.