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Despite decades of internal conflict and drug related security challenges, Colombia maintains relatively strong democratic institutions characterized by peaceful, transparent elections and the protection of civil liberties. The country has 32 departments and one capital district." /> <link rel="image_src" href="https://www.globalfleet.com/sites/default/files/flag_of_colombia.jpg" /> <meta name="generator" content="Drupal 7 (http://drupal.org)" /> <link rel="canonical" href="https://www.globalfleet.com/en/wikifleet/colombia" /> <link rel="shortlink" href="https://www.globalfleet.com/en/node/769023" /> <meta http-equiv="content-language" content="en" /> <meta property="og:site_name" content="Global Fleet" /> <meta property="og:type" content="article" /> <meta property="og:title" content="Colombia" /> <meta property="og:url" content="https://www.globalfleet.com/en/wikifleet/colombia" /> <meta property="og:description" content="The Colombian Government has stepped up efforts to reassert government control throughout the country, and now has a presence in every one of its administrative departments. Despite decades of internal conflict and drug related security challenges, Colombia maintains relatively strong democratic institutions characterized by peaceful, transparent elections and the protection of civil liberties. The country has 32 departments and one capital district." /> <meta property="og:updated_time" content="2023-07-15T02:49:08+02:00" /> <meta property="og:image" content="https://www.globalfleet.com/sites/default/files/styles/opengraph/public/flag_of_colombia.jpg?itok=Sx8QwFJk" /> <meta property="og:image:url" content="https://www.globalfleet.com/sites/default/files/styles/opengraph/public/flag_of_colombia.jpg?itok=Sx8QwFJk" /> <meta property="og:image:width" content="320" /> <meta property="og:image:height" content="213" /> <meta name="twitter:card" content="summary" /> <meta name="twitter:creator" content="@Fleet_Europe" /> <meta name="twitter:title" content="Colombia" /> <meta name="twitter:url" content="https://www.globalfleet.com/en/wikifleet/colombia" /> <meta name="twitter:description" content="The Colombian Government has stepped up efforts to reassert government control throughout the country, and now has a presence in every one of its administrative departments. Despite decades of internal conflict and drug related security challenges, Colombia maintains relatively strong democratic institutions characterized by peaceful, transparent elections and the protection of civil liberties. The country has 32 departments and one capital district." /> <meta name="twitter:image" content="https://www.globalfleet.com/sites/default/files/flag_of_colombia.jpg" /> <meta property="article:published_time" content="2018-01-31T17:12:57+01:00" /> <meta property="article:modified_time" content="2023-07-15T02:49:08+02:00" /> <meta itemprop="description" content="The Colombian Government has stepped up efforts to reassert government control throughout the country, and now has a presence in every one of its administrative departments. Despite decades of internal conflict and drug related security challenges, Colombia maintains relatively strong democratic institutions characterized by peaceful, transparent elections and the protection of civil liberties. 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<span class="easy-breadcrumb_segment-separator"> » </span> <span itemprop="itemListElement" itemscope itemtype="http://schema.org/ListItem"> <span itemscope itemprop="item" itemtype="http://schema.org/Thing" itemid="#2"> <span class="easy-breadcrumb_segment easy-breadcrumb_segment-title" itemprop="name">Colombia</span> </span> <meta itemprop="position" content="2" /> </span> </div> </div> </div> </div> </div> </header> </div> <div id="page"> <div id="main"> <div id="left-content"> <div id="content" class="column" role="main"> <a id="main-content"></a> <article class="node-769023 node node-wikifleet view-mode-full view-mode-full clearfix" about="/en/wikifleet/colombia" typeof="sioc:Item foaf:Document" data-uid="11812" data-contentGroup1="auteur-Daniel-Bland"> <header> <span property="dc:title" content="Colombia" class="rdf-meta element-hidden"></span> </header> <header class="group-wiki-header field-group-html5"><div class="field field-name-field-image field-type-image field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><img typeof="foaf:Image" src="https://www.globalfleet.com/sites/default/files/styles/uc_thumbnail/public/flag_of_colombia.jpg?itok=v4naFB3h" width="35" height="23" alt="" /></div> </div><div class="field field-name-title-field field-type-text field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><h1>Colombia</h1> </div> </div><em class="last-update">Last modification: 15 Jul 23</em><div class="wikifleet-navigation"><select class="chapter-selector" name="chapters"><option value="_none">Chapters</option><option value="#group-chapter-one">Chapter 1: Economic and business environment</option><option value="#group-chapter-two">Chapter 2 : Automotive market, segments & sales</option><option value="#group-chapter-three">Chapter 3: Company car market</option><option value="#group-chapter-four">Chapter 4: Taxation & legislation</option><option value="#group-chapter-five">Chapter 5: Car policies</option><option value="#group-chapter-six">Chapter 6: Funding methods</option><option value="#group-chapter-seven">Chapter 7: Fuel</option><option value="#group-chapter-height">Chapter 8 : TCO components</option><option value="#group-chapter-nine">Chapter 9: Safety, insurance and telematics</option><option value="#group-chapter-ten">Chapter 10: Environment</option><option value="#group-chapter-eleven">Chapter 11: Mobility</option><option value="#group-chapter-twelve">Chapter 12: Key trends to watch</option></select></div></header><div class="field field-name-body field-type-text-with-summary field-label-above "> <div class="field-label">Introduction: </div> <div class="field-item even field-item-first field-item-last field-item-0" property="content:encoded"> <p>The Colombian Government has stepped up efforts to reassert government control throughout the country, and now has a presence in every one of its administrative departments.</p> <p>Despite decades of internal conflict and drug related security challenges, Colombia maintains relatively strong democratic institutions characterized by peaceful, transparent elections and the protection of civil liberties. The country has 32 departments and one capital district.</p> <p>Colombia is home to the fourth largest automobile fleet in Latin America, only behind Brazil, Mexico, and Argentina.<br /> <br /> Thank you to contributors to the Colombia WikiFleet page: <a href="https://www.globalfleet.com/en/company/bdo-belastingconsulenten" target="_blank">BDO</a>; SEPA Consultants</p> </div> </div> <div class="group-chapter-one-items field-group-accordion field-group-accordion-wrapper effect-none" id="group-chapter-one"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 1: Economic and business environment</a></h3> <div class="field-group-format-wrapper "><div class="field-group-table group_chapter_one_table form-wrapper form-group" id=""><div id="" class="field-group-table group_chapter_one_table "> <table class="field-group-format group_chapter_one_table table table-striped"> <tbody> <tr class=""><th class="field-label">Demographics</th><td class="field-content"><div class="field field-name-field-demographics field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>Population 52 million (2022)<br /> <br /> source: United Nations</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Capital</th><td class="field-content"><div class="field field-name-field-capital field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>Bogota (7.7 million) approximately 11mn in the metropolitan area</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Major cities</th><td class="field-content"><div class="field field-name-field-major-cities field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>Bogota, Medellin (3.7mn), Cali (3.4mn), Barranquilla (2.3mn), Cartagena (1.0mn), Cucuta (0.8mn)</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Languages</th><td class="field-content"><div class="field field-name-field-languages field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>Spanish</p> </div> </div></td> </tr> <tr class=""><th class="field-label">GDP</th><td class="field-content"><div class="field field-name-field-gdp field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>2022 estimate (Nominal)<br /> US$331 billion <br /> US$6,365 per capita (non adjusted)<br /> <br /> source: World Economics</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Unemployment rate</th><td class="field-content"><div class="field field-name-field-unemployment-rate field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>10.3% (December 2022)<br /> <br /> Source: Trading Economics</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Main industries</th><td class="field-content"><div class="field field-name-field-main-industries field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>Agriculture – products: coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; forest products; shrimp</p> <p>Industries: textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Currency</th><td class="field-content"><div class="field field-name-field-currency field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>Colombian peso (COP), USD 1 = COP 3,771 (6 August 2020)</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Interest rate</th><td class="field-content"><div class="field field-name-field-interest-rate field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>12.75% (January 2023)</p> <p><span style="text-align: left;float: none;">Source: Trading Economics</span></p> </div> </div></td> </tr> <tr class=""><th class="field-label">Fleet Maturity Index (scaling)</th><td class="field-content"><div class="field field-name-field-fleet-maturity field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>Approximately 61% of multinational companies in Colombia offer company's cars to some of their employees.</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Political key info</th><td class="field-content"><div class="field field-name-field-political-key-info field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>Gustavo Petro has been the president of Colombia since <span style="text-align:center;"><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span style="float:none;">August 7, 2022. (four-year term).</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><br /> <br /> Colombia is a unitary republic formed by thirty-two departments and a Capital District.<br /> Each department has a Governor (<em>Gobernador</em>) and a Department Assembly (<em>Asamblea Departamental</em>), elected by popular vote for a four-year period.</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Inflation</th><td class="field-content"><div class="field field-name-field-inflation field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>13.25% (January 2023)</p> <p><span style="text-align: left;float: none;">Source: Trading Economics</span></p> </div> </div></td> </tr> </tbody> </table> </div></div></div></div><div class="group-chapter-two-items field-group-accordion-wrapper effect-none" id="group-chapter-two"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 2 : Automotive market, segments & sales</a></h3> <div class="field-group-format-wrapper "><div class="field-group-table group_chapter_two_table group-chapter-two-table field-group-table form-wrapper form-group" id=""><div id="" class="field-group-table group_chapter_two_table group-chapter-two-table field-group-table"> <table class="field-group-format group_chapter_two_table table table-striped"> <tbody> <tr class=""><th class="field-label">Total Car park</th><td class="field-content"><div class="field field-name-field-total-car-park field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p><span style="text-align: left;float: none;">6.8 million cars, approximately </span><span style="text-align: left;float: none;">one car per eight inhabitants (est. 2021) </span></p> <p>16.5mn total passenger vehicles, including 9.7 motorcycles (57% of the total)</p> </div> </div></td> </tr> <tr class=""><th class="field-label">New vehicle registrations (Cars, LCV, Trucks)</th><td class="field-content"><div class="field field-name-field-new-vehicle-registrations field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p><span style="text-align: left;float: none;">2022</span><br /> 262,565 units, up 4.8% year-over-year<br /> mainly made up of auotmobiles and SUVs, but and also a few pickups </p> <p><span style="text-align: left;float: none;">Approximately 4% are luxury passenger vehicles<br /> <br /> Approximately 7% electrictrified<br /> mainly HEV (hybrids), but also a few PHEV (plug-in hybrdis) and BEV (full-electric)</span></p> </div> </div></td> </tr> <tr class=""><th class="field-label">Top 5 brands (total market)</th><td class="field-content"><div class="field field-name-field-top-5-brands-total-market field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>2022 (total units sold: 262,565)</p> <p>1. Renault (49,427 units) up 2.9% y-o-y (18.8% market share) <br /> 2. Chevrolet (41,079 units) up 18.6%  (15.6% market share)<br /> 3. Toyota (25,659 units) up 34.1% (9.8% market share) <br /> 4. Suzuki (21,589 units) up 43.3% (8.2% market share)<br /> 5. Kia (19,065 units) up 7.5% (7.3% market share) </p> <p>Premium brands led by Mercedes Benz with 3,933 units, followed by BMW, Audi, and Volvo</p> <p>El Carro Colombiano<br /> .<br /> 2021<br /> Electrified vehicles (HEV, PHEV, BEV) led by Toyota with 6,960 units, followed by Suzuki, Ford, Kia, Mercedes Benz</p> <p>source: Andemos</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Model preference top 5 (total market)</th><td class="field-content"><div class="field field-name-field-model-preference-top field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>2022<br /> <br /> Suzuki Swift (12,033 units)<br /> Renault Duster (10,679 units) <br /> Chevrolet Onix (10,076)<br /> Chevrolet Joy (9,336)<br /> Renault Kwid (8,351)</p> <p>2021</p> <p>premium brands<br /> 1. Audi Q3 (580 units) +108% year-over-year</p> <p>2. Mercedes Benz GLC 300 (552 units) +17%</p> <p>3. Mercedes Benz GLE 450 (552 units) +67%</p> <p>4. BMW X3 (518 units) +47%</p> <p>5. BMW Volvo XC60 (415 units) +23%</p> <p> </p> <p>source: Andemos</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Dealer network (including fleet dealer network)</th><td class="field-content"><div class="field field-name-field-dealer-network-including field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>750 car dealers around the country</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Used car market/renewal cycle</th><td class="field-content"><div class="field field-name-field-used-car-market field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>According to figures from the National Traffic Registry, RUNT, as of 2017 there have been 1,047,428 transfers, compared to a total of 699,203 new registrations (including motorcycles).<br /> There is no good used car market business in Colombia.</p> </div> </div></td> </tr> </tbody> </table> </div></div></div></div><div class="group-chapter-three-items field-group-accordion-wrapper effect-none" id="group-chapter-three"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 3: Company car market</a></h3> <div class="field-group-format-wrapper "><div class="field-group-table group_chapter_three_table group-chapter-three-table field-group-table form-wrapper form-group" id=""><div id="" class="field-group-table group_chapter_three_table group-chapter-three-table field-group-table"> <table class="field-group-format group_chapter_three_table table table-striped"> <tbody> <tr class=""><th class="field-label">Total Fleet Park (company cars)/Fleet penetration in total fleet sales</th><td class="field-content"><div class="field field-name-field-total-fleet-park field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>This information is not available, but it’s estimated that 15% of vehicles in Colombia are fleet vehicles. Considering a total automobile fleet of 6.8 million, this brings the fleet park just over one million. </p> <p>Most fleets are small. A company with 20 vehicles is considered a large fleet.<br /> <br /> In Colombia, approximately 61% of the multinational companies in the country offer company cars or vehicle benefits for employees, according to a 2020 Global Fleet study done in partnership with Willis Towers Watson.</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Evolution fleet sales (last 5 years)</th><td class="field-content"><div class="field field-name-field-evolution-fleet-sales field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>In 2021, LCV sales rose 34% to 28,579 units from 21,391 (source: OICA)<br /> <br /> 2020: 21,391 units<br /> 2019: 28,125 units<br style="text-align: left;" /> <span style="text-align: left;float: none;">2018: 25,534 units<br /> 2</span><span style="text-align: left;float: none;">017: 21,326 units</span><br style="text-align: left;" /> <br /> In 2021, while sales increased 36.8% for pickups to 8,142 units, taxis (+38% to 4,552 units), vans (+8.4% to 1,293 units), commercial passenger vehicles (-35.8% to 2,154 units), and commercial cargo (-10.5t) vehicles sales were up 116% to 26,836 units. (source: Andemos)</p> </div> </div></td> </tr> <tr class=""><th class="field-label">Top 5 fleet brands (fleet market)</th><td class="field-content"><div class="field field-name-field-top-5-fleet-brands-fleet field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>2021</p> <p>1. Renault<br /> 2. Chevrolet<br /> 3. Mazda<br /> 4. Toyota<br /> 5. Nissan<br /> <br /> Overall premium car sales<br /> 1. BMW<br /> 2. Mercedes Benz<br /> 3. Audi<br /> 4. Volvo<br /> 5. Land Rover<br /> <br /> Overall pickup sales (2022) El Carro Colombiano<br /> Toyota Hilux (4,868 units)<br /> Nissan Frontier (2,551)<br /> Ford Ranger (2,173)</p> <p>2021<br /> Taxis<br /> 1. Kia<br /> 2. Hyundai<br /> 3. Chevrolet<br /> 4. Renault<br /> 5. FAW</p> <p>source: Andemos </p> </div> </div></td> </tr> <tr class=""><th class="field-label">Fleet Model preference top 5 (fleet market)</th><td class="field-content"><div class="field field-name-field-fleet-model-preference-top field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>2021</p> <p>1. Mazda CX30 (11,214 units) +99% year-over-year<br /> 2. Renault Duster (9,279) +38%<br /> 3. Suzuki Vitara (5,497) + 83%<br /> 4. Nissan Frontier NP300 (5,320) +100%<br /> 5. Mazda CX5 (4,419) +45%</p> <p>source: Andemos </p> </div> </div></td> </tr> </tbody> </table> </div></div></div></div><div class="group-chapter-four-items field-group-accordion-wrapper effect-none" id="group-chapter-four"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 4: Taxation & legislation</a></h3> <div class="field-group-format-wrapper "><div class="field field-name-field-taxation-legislation field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p style="margin:0px;"> </p> <table style="margin:0px;"> <tbody> <tr> <td colspan="2" width="566"> <p style="text-align:center;margin:0px;"><b><span style="margin:0px;"><span><span>Company car taxation in Colombia</span></span></span></b></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;">The basis of company car taxation in Colombia is reflected in this overview. Different types of taxes are considered here: taxes related to the registration of the vehicle, income taxes and VAT aspects. Expected future developments are also briefly listed, if any. </span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>1.</b> </span></span><span style="margin:0px;"><b>Car taxation</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>1.1.</b> </span></span><span style="margin:0px;"><b>Registration tax</b></span></p> </td> </tr> <tr> <td width="165"> <p style="margin:0px;"><b><span style="margin:0px;">Taxable event</span></b></p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> </td> <td width="402"> <p style="text-align:justify;margin:0px;"><b><span style="margin:0px;">New vehicles:</span></b></p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">In order to get the vehicle registered it is required to have the invoice (in case of local manufacturing), the import license, taxes receipts, and the registration certificate of the National Registry of Transport (RUNT for its Spanish acronym).</span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">Approximate rates in USD$ for 2017</span></p> <table style="margin:0px;"> <tbody> <tr> <td> <h2 style="text-align:center;margin:0px;"><span style="margin:0px;"><span><span><span><img alt="expedición de licencia de conduccion pase vehiculo" id="Imagen_x0020_5" src="file:///C:/Users/TEMP/AppData/Local/Packages/oice_16_974fa576_32c1d314_1617/AC/Temp/msohtmlclip1/01/clip_image001.png" /> </span></span></span></span></h2> </td> <td> <h2 style="margin:0px;"><span style="margin:0px;"><span><span><span><b>USD $120 </b></span></span></span></span></h2> </td> <td> <p style="margin:0px;"><span style="margin:0px;"><span><span><span>Car</span></span></span></span></p> </td> </tr> <tr> <td> <h2 style="margin:0px;"><span style="margin:0px;"><span><span><span><img alt="expedicion licencia de conduccion pase moto" id="Imagen_x0020_4" src="file:///C:/Users/TEMP/AppData/Local/Packages/oice_16_974fa576_32c1d314_1617/AC/Temp/msohtmlclip1/01/clip_image002.png" /> </span></span></span></span></h2> </td> <td> <h2 style="margin:0px;"><b><i><span style="margin:0px;"><span><span><span>USD </span></span></span></span><span style="margin:0px;"><span><span><span>$67</span></span></span></span></i></b></h2> </td> <td> <p style="margin:0px;"><span style="margin:0px;"><span><span><span>Motorcycle</span></span></span></span></p> </td> </tr> <tr> <td> <p style="margin:0px;"><span style="margin:0px;"><span><span><span><img alt="https://www.simbogota.com.co/images/ico/icono-maquinaria.png" id="Imagen_x0020_3" src="https://www.simbogota.com.co/images/ico/icono-maquinaria.png" /> </span></span></span></span></p> </td> <td> <h2 style="margin:0px;"><span style="margin:0px;"><span><span><span><b>USD $120</b></span></span></span></span></h2> </td> <td> <p style="margin:0px;"><span style="margin:0px;"><span><span><span>(Agricultural, Construction and Self-propelled Industrial Machinery) </span></span></span></span></p> </td> </tr> <tr> <td> <p style="margin:0px;"><span style="margin:0px;"><span><span><span><img alt="https://www.simbogota.com.co/images/ico/icono-remolque.png" id="Imagen_x0020_2" src="https://www.simbogota.com.co/images/ico/icono-remolque.png" /> </span></span></span></span></p> </td> <td> <h2 style="margin:0px;"><span style="margin:0px;"><span><span><span><b>USD $110 </b></span></span></span></span></h2> </td> <td> <p style="margin:0px;"><span style="margin:0px;"><span><span><span>(Trailers, Semitrailers, Multimodular and similar vehicles)</span></span></span></span></p> </td> </tr> </tbody> </table> <p style="text-align:justify;margin:0px;"> </p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>1.2.</b> </span></span><span style="margin:0px;"><b>Annual circulation tax</b></span></p> </td> </tr> <tr> <td width="165"> <p style="margin:0px;"><b><span style="margin:0px;">Taxable event</span></b></p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"><b><span style="margin:0px;">Taxable person</span></b></p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"><b><span style="margin:0px;">Tax due</span></b></p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"><b><span style="margin:0px;">Taxable period</span></b></p> </td> <td width="402"> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">The registration of a vehicles (for private or public use) in a local jurisdiction, for example: Bogota.</span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">The taxable basis is the amount of the vehicle</span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"><b><span style="margin:0px;">Annual circulation tax for 2017 Approx. USD$ </span></b></p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;"><span style="margin:0px;">a) </span></span><span style="margin:0px;">Until USD $ 15.000 1,5%</span></p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;"><span style="margin:0px;">b) </span></span><span style="margin:0px;">Between USD $ 15.000- 33.000 2,5%</span></p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;"><span style="margin:0px;">c) </span></span><span style="margin:0px;">Above USD $ 33.000 3,5%</span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="margin:0px;"><span style="margin:0px;">Annual</span></p> </td> </tr> </tbody> </table> <p style="margin:0px;"> </p> <table style="margin:0px;"> <tbody> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>2.</b> </span></span><span style="margin:0px;"><b>Income taxes</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;">ü </span></span></p> </td> </tr> <tr> <td width="165"> <p style="margin:0px;"><span style="margin:0px;">Taxable event</span></p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"><span style="margin:0px;">Taxable person</span></p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"><span style="margin:0px;">Tax due</span></p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"><span style="margin:0px;">Taxable period</span></p> </td> <td width="402"> <p style="margin:0px;"><span style="margin:0px;"><span>The income tax and its supplementary tax – the capital gains tax – are treated as a single tax. The income tax is a charge on the profits or earnings that taxpayers make in the normal course of business – to the extent these “profits” or “earnings” are income that is capable of increasing the taxpayer’s net assets. For its part, the capital gains tax is a charge on certain special transactions that taxpayers carry out outside their normal course of business.</span></span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">Individuals or Companies who are not excluded from income tax.</span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">The income tax rate is 33% for taxable year 2018 plus a surcharge (only for 2018) of 4% depending of the level of taxable income. </span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">Capital Gains Taxes 10%.</span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"><span style="margin:0px;">Annual.</span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>3.</b> </span></span><span style="margin:0px;"><b>VAT</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>3.1.</b> </span></span><span style="margin:0px;"><b>Deduction</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;">ü </span></span></p> </td> </tr> <tr> <td width="165"> <p style="margin:0px;"><b><span style="margin:0px;">Taxable event</span></b></p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"><b><span style="margin:0px;">Taxable person</span></b></p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"><b><span style="margin:0px;">Tax due</span></b></p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> <p style="margin:0px;"><b><span style="margin:0px;">Taxable period</span></b></p> </td> <td width="402"> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">The VAT will be deductible in full if it is a capital asset (asset used for the general business activities), otherwise it will be deductible via depreciation if it corresponds to a fixed asset (asset used in view of rendering services with it).</span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">Who complete activities taxable with VAT</span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">The general VAT rate is 19%. </span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"><b><span style="margin:0px;">Bimonthly</span></b><span style="margin:0px;">: Gross income higher than approx. USD$ 100.000.</span></p> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">It also includes for the operations initiators, the exporters, and exempt transactions (<i>Zero rate</i>).</span></p> <p style="text-align:justify;margin:0px;"> </p> <p style="text-align:justify;margin:0px;"><b><span style="margin:0px;">Quarterly</span></b><span style="margin:0px;">: Gross income less than approx. USD $ 100.000.</span></p> </td> </tr> </tbody> </table> <p style="margin:0px;"> </p> <table style="margin:0px;"> <tbody> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>3.2.</b> </span></span><span style="margin:0px;"><b>Hire purchase</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;">ü </span></span><span style="margin:0px;">19% Rate</span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>3.3.</b> </span></span><span style="margin:0px;"><b>Leasing</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;">ü </span></span><span style="margin:0px;">19% Rate</span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>4.</b> </span></span><span style="margin:0px;"><b>Company car</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>4.1.</b> </span></span><span style="margin:0px;"><b>VAT due on private use of company cars</b></span></p> </td> </tr> <tr> <td width="165"> <p style="margin:0px;"><b><span style="margin:0px;">Taxable event</span></b></p> <p style="margin:0px;"> </p> <p style="margin:0px;"> </p> </td> <td width="402"> <p style="text-align:justify;margin:0px;"><span style="margin:0px;">N/A </span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>4.2.</b> </span></span><span style="margin:0px;"><b>Company car in personal tax returns – benefit in kind</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="text-align:justify;margin:0px;"><span style="margin:0px;"><span><span><span style="margin:0px;">ü </span></span></span></span><span style="margin:0px;"><span>In case of recurring private use, a tax revenue would be considered for income tax purposes. Additionally, if the benefit exceeds 40% of the labor income, it would also become the basis for payroll taxes and social security contributions.</span></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>5.</b> </span></span><span style="margin:0px;"><b>Income taxes – drivers’ personal taxation</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>5.1.</b> </span></span><span style="margin:0px;"><b>Private car in the personal tax return</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b><i>5.1.1.</i></b> </span></span><span style="margin:0px;"><b>Private use</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="text-align:justify;margin:0px;"><span style="margin:0px;"><span style="margin:0px;">ü </span></span><span style="margin:0px;">N/A</span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b><i>5.1.2.</i></b> </span></span><span style="margin:0px;"><b><i>Commuter traffic</i></b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;">ü </span></span><span style="margin:0px;">Does not apply.</span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b><i>5.1.3.</i></b> </span></span><span style="margin:0px;"><b>Business kilometres</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;">ü </span></span><span style="margin:0px;">Does not apply.</span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>6.</b> </span></span><span style="margin:0px;"><b>Special schemes (if any)</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="text-align:justify;margin:0px;"><span style="margin:0px;"><b>National Consumption Tax at 8% rate:</b></span><span style="margin:0px;"> (Art. 512-3 of the Tax Statute)</span></p> <ul> <li style="text-align:justify;margin:0px;"><span style="margin:0px;">On the sale of automotive vehicles to the final consumer or the importation by the latter</span></li> <li style="text-align:justify;margin:0px;"><span style="margin:0px;">Vehicles with Andean Tariff Nomenclature: 8703</span></li> <li style="text-align:justify;margin:0px;"><span style="margin:0px;">Family or Campers category vehicles, whose FOB value or its equivalent is less than USD$ 30,000, including its accessories</span></li> <li style="text-align:justify;margin:0px;"><span style="margin:0px;">8704- Pick-up whose FOB value or its equivalent is less than USD$ 30,000, including accessories</span></li> </ul> <p style="text-align:justify;margin:0px;"> </p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>7.</b> </span></span><span style="margin:0px;"><b>Electric vehicles</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;">ü </span></span><span style="margin:0px;">5% VAT rate for goods of tariff heading 87.02 </span></p> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;">ü </span></span><span style="margin:0px;">Electric motor vehicles for the transport of 10 or more persons, including the driver, for public transport only. (Article 468-1 of the Tax Statute)</span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;"><b>8.</b> </span></span><span style="margin:0px;"><b>Future developments</b></span></p> </td> </tr> <tr> <td colspan="2" width="566"> <p style="margin:0px;"><span style="margin:0px;"><span style="margin:0px;">ü </span></span><span style="margin:0px;">None</span></p> </td> </tr> </tbody> </table> <p>Source: BDO (2018)</p> <p> </p> <p><strong>4.1 Car registration</strong></p> <ul> <li>Every buyer must be registered with the RUNT system (National transit register system).</li> <li>Tax payment on motor vehicles, has three levels depending on the range of purchase price 1.5%, 2.5% and 3.5%. More expensive cars pay more tax.</li> <li>SOAT purchase (Traffic Accident Insurance) is a mandatory accident insurance.</li> </ul> <p><strong>4.2 Car Taxation</strong></p> <ul> <li>All new car sales are taxed at the time of invoicing with VAT, currently at 19%. This VAT can’t be deducted, it is part of the value.</li> </ul> <p><strong>4.3 Motor vehicle tax</strong></p> <table class="Table" width="345"> <tbody> <tr> <td width="108"> <p style="text-align:center;"><span><span><b><span><span>Private vehicles </span></span></b></span></span></p> </td> <td width="157"> <p style="text-align:center;"><span><span><b><span><span>Valuation ranges (in COP)</span></span></b></span></span></p> </td> <td width="80"> <p style="text-align:center;"><span><span><b><span><span>Rate</span></span></b></span></span></p> </td> </tr> <tr> <td width="108"> <p><span><span><span><span>All cars, jeeps, vans, station wagons, freight vehicles and passenger</span></span></span></span></p> </td> <td width="157"> <p style="text-align:center;"><span><span><span><span>Up to $43,953,000</span></span></span></span></p> </td> <td width="80"> <p style="text-align:center;"><span><span><span><span>1.5%</span></span></span></span></p> </td> </tr> <tr> <td width="157"> <p style="text-align:center;"><span><span><span><span>Between $43,953,000 and $98,993,000</span></span></span></span></p> </td> <td width="80"> <p style="text-align:center;"><span><span><span><span>2.5%</span></span></span></span></p> </td> </tr> <tr> <td width="157"> <p style="text-align:center;"><span><span><span><span>Over $98,893,000</span></span></span></span></p> </td> <td width="80"> <p style="text-align:center;"><span><span><span><span>3.5%</span></span></span></span></p> </td> </tr> </tbody> </table> <p><strong>4.4 Direct taxation – taxable persons</strong></p> <p>Company cars can also be used for personal use. Having a company car doesn’t affect the user’s income tax, and the company that owns the car can deduct it 100%.></p> <p><strong>4.5 VAT</strong></p> <ul> <li>The general VAT rate is 19%. However, certain services and goods are taxed at 5% and 0%.</li> </ul> <p><strong>4.7 Company car</strong></p> <p>Vehicles can depreciate completely in the normal estimated useful life that is 10 years. A company car can be deducted by the company as an expense if the company can prove that it is needed for the use of the company.</p> <p><strong>4.8 Income taxes – drivers’ personal taxation</strong></p> <ul> <li>The income tax rate is 34%</li> </ul> <p><strong>4.9 Electric vehicles</strong></p> <ul> <li>Electric vehicles are tax free and duty free in Colombia and have a 5% VAT</li> </ul> <p><strong>4.10 Future developments</strong></p> <p><strong>4.11 Legal background (import taxes)</strong></p> <ul> <li>Car import rate is up to 35%, but Colombia has Free Trade agreements with Venezuela, Ecuador, Bolivia, Mexico, the United States, the European Union and Korea. These FTAs bring these taxes to 0%.</li> </ul> <p>Source:  SEPA Consultants (2018)</p> </div> </div><div class="contribute-links"><span class="label">To suggest an update:</span><div class="links"><a href="/en/user/login?destination=node/769023" class="btn login-link">Login</a> <span>or</span> <a href="/en/user/register" class="btn register-link">Create an account</a></div></div></div></div><div class="group-chapter-five-items field-group-accordion field-group-accordion-wrapper effect-none" id="group-chapter-five"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 5: Car policies</a></h3> <div class="field-group-format-wrapper "><div class="field field-name-field-car-policies field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>The title of the car rests with its owner. Therefore, if the vehicle is leased, its title and property belongs to the leasing company.</p> <p>The sector that provides one of the largest numbers of fleet vehicles is the pharmaceutical industry.</p> <p>General Manager and Sales Representative frequently benefit from company cars.</p> <p>Reference cars:</p> <ul> <li>Entry/junior sales level: Chevrolet Sail, Spark, Renault Logan</li> <li>Senior sales/management level: Mazda 3, Ford Fiesta</li> <li>Executive level: Toyota Fortuner, Ford Explorer</li> </ul> </div> </div><div class="contribute-links"><span class="label">To suggest an update:</span><div class="links"><a href="/en/user/login?destination=node/769023" class="btn login-link">Login</a> <span>or</span> <a href="/en/user/register" class="btn register-link">Create an account</a></div></div></div></div><div class="group-chapter-six-items field-group-accordion field-group-accordion-wrapper effect-bounceslide" id="group-chapter-six"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 6: Funding methods</a></h3> <div class="field-group-format-wrapper "><div class="field field-name-field-funding-methods field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p><strong>6.1 Outright purchase</strong></p> <ul> <li>This is the most common option used by individuals. It is not very common for large companies, with the except for pharmaceutical companies as this is seen as being more convenient for their employees.</li> <li>Colombia has 18 banks and 17 financing companies (many of them with special lines for car purchases). It also has specialized entities for the sector such as GMAC and Finandina, as well as special savings plans excusively for vehicles such as ChevyPlan (Chevrolet) ) and Plan Rombo (Renault). However, it is important to keep in mind that consumer credit is the most expensive option.</li> <li>The ownership and the title of vehicles are held by the individual or the company buying the vehicle.</li> </ul> <p><strong>6.2 Finance lease</strong></p> <ul> <li>Although the first option considered is a request for a loan (traditional financial product offered by banks), there is another option thto puran many are unaware of and that is vehicle leasing with an option to purchase.This option is also more common with medium to large companies as it offers greater tax benefits.</li> <li>The title of the vehicle belongs to the leasing company, and the contracts generally extend from 36 to 48 months.</li> <li>At the end of the contract, the customer takes the purchase option, which is normally 10% of the initial value of the vehicle.</li> </ul> <p><strong>6.3 Full service leasing (operational leasing)</strong></p> <ul> <li>Operating leasing, also called "renting" in Colombia</li> <li>Mainly, the need to reduce company costs is driving the renting business in the country. </li> <li>This option offers the lease of a vehicle or a fleet of vehicles, generally from 1-5 years (extendable to six or seven years). Upon expiration, the company returns the vehicle or vehicles and begins a new rental cycle with new vehicles. The renting company then sells these used vehicles on the traditional market.</li> <li>The title of the vehicles always stays with the leasing company.</li> </ul> <p><strong>6.4 Fleet Management</strong></p> <p>Although Fleet Management is not well known in Colombia, there are companies that offer individual services that support fleet management in companies such as satellite tracking services, fuel control, among others.</p> <p><strong>6.5 Short term rental</strong></p> <p>A large number of small companies offer short-term renting, as well as the franchises of large global companies.</p> <p><strong>6.6 Other funding methods</strong></p> <p>In the last five years, programmed savings systems for vehicle acquiestion has increased significantly in the country. The market leader is ChevyPlan (91% of the market) which is made up of General Motor Colmotores and its network of Chevrolet dealers. It is followed by Autofinanciera with a 5.4% share, and Renault's Plan Rombo with 3.6%. As of March 2017, ChevyPlan has delivered more than 92,000 Chevrolet vehicles, the best-selling references being: Spark Life, Spark GT, Tracker and Onix.</p> </div> </div><div class="contribute-links"><span class="label">To suggest an update:</span><div class="links"><a href="/en/user/login?destination=node/769023" class="btn login-link">Login</a> <span>or</span> <a href="/en/user/register" class="btn register-link">Create an account</a></div></div></div></div><div class="group-chapter-seven-items field-group-accordion field-group-accordion-wrapper effect-bounceslide" id="group-chapter-seven"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 7: Fuel</a></h3> <div class="field-group-format-wrapper "><div class="field field-name-field-fuel field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p style="text-align: left;"><span style="text-align: left;float: none;">January 17, 2022<br /> Average gasoline price per liter: US$0.60 (world average is US$1.23)</span><br /> <span style="text-align: left;float: none;">Average diesel price per liter: US$0.59 (world average is US$1.13)<br /> <br /> June 1, 2021<br /> Average electricity price per kWh Households: US$0.14 (world average is US$0.14)<br /> Average electricity price per kWh Business: US$0.14 (world average is US$0.13)</span></p> <p style="text-align: left;">Source: https://www.globalpetrolprices.com/gasoline_prices/</p> <ul> <li>The share of fuel types used by cargo vehicles in Colombia is quite balanced between diesel and gasoline, being 50% and 49% respectively. Natual gas represents 1%. Gasoline consumption predominates in vehicles with two (2) axles, which can be explained by the fact that they are low capacity vehicles. As for public service vehicles, diesel consumption (70%) prevails as the fuel has a large impact on vehicle operation costs. Diesel is also common for large capacity vehicles. Finally, in terms of the private sector, gasoline dominates (75%) as they are primarly two (2) axles.</li> <li>Fuel price evolution</li> </ul> <div> <table class="Table" width="480"> <tbody> <tr> <td width="80"> <p><span><span><span><span>Fuel Type</span></span></span></span></p> </td> <td width="80"> <p style="text-align:center;"><span><span><span><span><span>Regular Gasoline</span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:center;"><span><span><span><span><span>Diesel</span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:center;"><span><span><span><span><span>Regular Gasoline</span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:center;"><span><span><span><span><span>Diesel</span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:center;"><span><span><span><span> EUR:COP (Dec)</span></span></span></span></p> </td> </tr> <tr> <td width="80"> <p style="text-align:center;"><span><span><b><span><span><span>2012 </span></span></span></b></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          8.701 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          8.179 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            3,73 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            3,51 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          2.330 </span></span></span></span></span></p> </td> </tr> <tr> <td width="80"> <p style="text-align:center;"><span><span><b><span><span><span>2013 </span></span></span></b></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          8.361 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          8.260 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            3,15 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            3,11 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          2.653 </span></span></span></span></span></p> </td> </tr> <tr> <td width="80"> <p style="text-align:center;"><span><span><b><span><span><span>2014 </span></span></span></b></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          8.495 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          8.258 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            2,94 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            2,86 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          2.890 </span></span></span></span></span></p> </td> </tr> <tr> <td width="80"> <p style="text-align:center;"><span><span><b><span><span><span>2015 </span></span></span></b></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          7.818 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          7.469 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            2,27 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            2,17 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          3.448 </span></span></span></span></span></p> </td> </tr> <tr> <td width="80"> <p style="text-align:center;"><span><span><b><span><span><span>2016 </span></span></span></b></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          8.046 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          7.501 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            2,55 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            2,38 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          3.157 </span></span></span></span></span></p> </td> </tr> <tr> <td width="80"> <p style="text-align:center;"><span><span><b><span><span><span>2017 </span></span></span></b></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          8.889 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          8.197 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            2,53 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> €            2,33 </span></span></span></span></span></p> </td> <td width="80"> <p style="text-align:right;"><span><span><span><span><span> $          3.516 </span></span></span></span></span></p> </td> </tr> </tbody> </table> </div> <ul> <li>Fuel card solution</li> </ul> <p>Fuel suppliers such as Terpel, Esso and Mobil offer cards to buy fuel with benefits in discounts on the fuel price, or in greater accumulation of points within benefit programmes of the partner financial entities.</p> </div> </div><div class="contribute-links"><span class="label">To suggest an update:</span><div class="links"><a href="/en/user/login?destination=node/769023" class="btn login-link">Login</a> <span>or</span> <a href="/en/user/register" class="btn register-link">Create an account</a></div></div></div></div><div class="group-chapter-height-items field-group-accordion field-group-accordion-wrapper effect-bounceslide" id="group-chapter-height"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 8 : TCO components</a></h3> <div class="field-group-format-wrapper "><div class="field field-name-field-tco-components field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>Awareness and understanding about TCO and its true impact on fleet costs is quite common in Colombia. New approaches are highlighting the true costs, including maintenance (preventative and corrective), alongside insurance, fuel, fines and relief vehicles, associated with the old ways of fleet acquisition and management.</p> </div> </div><div class="contribute-links"><span class="label">To suggest an update:</span><div class="links"><a href="/en/user/login?destination=node/769023" class="btn login-link">Login</a> <span>or</span> <a href="/en/user/register" class="btn register-link">Create an account</a></div></div></div></div><div class="group-chapter-nine-items field-group-accordion field-group-accordion-wrapper effect-bounceslide" id="group-chapter-nine"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 9: Safety, insurance and telematics</a></h3> <div class="field-group-format-wrapper group-chapter-nine field-group-accordion-item"><div class="field field-name-field-safety-insurance-and-telem field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p><span style="text-align: left;float: none;">Approximately 17% of the vehicles in Colombia are insured</span></p> <p>Although Colombia requires safety equipment such as seat belts, two airbags, as well as ABS anti-lock braking and Electronic Brakeforce Distribution EBD systems as standard equipment, the country - as of August 2021 - had no date set for the requirement of ESP stability control. <br style="text-align: left;" /> <span style="text-align: left;float: none;">Mandatory third-party vehicle insurance:</span><strong style="text-align: left;"> </strong>The SOAT protects the personal injuries caused to people in traffic accidents. It is universal coverage, i.e., it covers all victims of traffic accidents.<span style="text-align: left;float: none;">(Source: Mapfe 2017)</span> </p> <table class="Table" width="540"> <tbody> <tr> <td width="288"> </td> <td width="80"> <p style="text-align:center;"><span><b><span><span>Dec-15</span></span></b></span></p> </td> <td width="79"> <p style="text-align:center;"><span><b><span><span>Dec-17</span></span></b></span></p> </td> <td width="93"> <p style="text-align:center;"><span><b><span><span>percentage variation</span></span></b></span></p> </td> </tr> <tr> <td> <p><span>Premiums issued (millions COP)</span></p> </td> <td> <p style="text-align:center;"><span><span><span>2,612,586</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>2,958,316</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>13.23%</span></span></span></p> </td> </tr> <tr> <td> <p><span>Accrued premiums (millions COP)</span></p> </td> <td> <p style="text-align:center;"><span><span><span>2,370,507</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>2,644,517</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>11.56%</span></span></span></p> </td> </tr> <tr> <td> <p><span>Claims incurred (millions COP)</span></p> </td> <td> <p style="text-align:center;"><span><span><span>1,624,085</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>1,811,223</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>11.52%</span></span></span></p> </td> </tr> <tr> <td> <p><span>Claims Account Company</span></p> </td> <td> <p style="text-align:center;"><span><span><span>68.51%</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>68.49%</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>-0.02%</span></span></span></p> </td> </tr> <tr> <td> <p><span>Premiums projected to December (millions COP)</span></p> </td> <td> <p style="text-align:center;"><span><span><span>2,620,883</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>2,969,600</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>13.31%</span></span></span></p> </td> </tr> <tr> <td> <p><span>Average premium (thousands COP)</span></p> </td> <td> <p style="text-align:center;"><span><span><span>1,182</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>1,275</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>7.84%</span></span></span></p> </td> </tr> <tr> <td> <p><span>Average loss (thousands COP)</span></p> </td> <td> <p style="text-align:center;"><span><span><span>5,789</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>5,832</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>0.74%</span></span></span></p> </td> </tr> <tr> <td> <p><span>Insured vehicles (thousands)</span></p> </td> <td> <p style="text-align:center;"><span><span><span>2,216</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>2,329</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>5.06%</span></span></span></p> </td> </tr> <tr> <td> <p><span>Number of claims</span></p> </td> <td> <p style="text-align:center;"><span><span><span>280,939</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>309,397</span></span></span></p> </td> <td> <p style="text-align:center;"><span><span><span>10.13%</span></span></span></p> </td> </tr> </tbody> </table> <p>Insurance companies in Colombia: AIG, ALFA, ALLIANZ, BBVA SEGUROS, BOLIVAR, AXA COLPATRIA, EQUIDAD, ESTADO, GENERALI, LIBERTY, MAPFRE, PREVISORA, QBE, SOLIDARIA, SURAMERICANA<br /> <br /> Considering that about 2.3 million of the 13.3 million vehicles in the country are insured, about 17% have coverage. </p> </div> </div><div class="contribute-links"><span class="label">To suggest an update:</span><div class="links"><a href="/en/user/login?destination=node/769023" class="btn login-link">Login</a> <span>or</span> <a href="/en/user/register" class="btn register-link">Create an account</a></div></div></div></div><div class="group-chapter-ten-items field-group-accordion field-group-accordion-wrapper effect-bounceslide" id="group-chapter-ten"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 10: Environment</a></h3> <div class="field-group-format-wrapper "><div class="field field-name-field-environment field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p style="text-align: left;"><span>To improve air quality and stimulate more sustainable mobility, <span style="text-align: left;float: none;">the Ministries of Environment, Trade and Finance passed decree </span><span style="text-align: left;float: none;">No. 2051 in November (2019), reducing </span><span style="text-align: left;float: none;">the import tariff on natural gas vehicles to 5% from 35% and omitting tariffs on all electric vehicles.</span></span><br /> In 2020, Bogota's Transmilenio bus system was estimated to have 379 electric buses furnished by Chinese electric vehicle manufacturer BYD. </p> <p><strong>Electric Vehicles</strong><br /> <br /> The sales of EVs and hybrids (HEV) increased significantly in Colombia in 2021, jumping nearly 200% to some 18,000 units, according to local sustainable mobility association Andemos. </p> <p>In 2021, EV sales rose 60% to 1,200 units, according to local entrepreneur’s association Andi and federal merchants association Fenalco. For EVs, value-added tax is 5% as opposed to 35%, and local governments now give  tax breaks associated with the country’s technical-mechanical review, pollutant emissions control, and mandatory accident insurance premiums. It also stipulates that tax cannot surpass 1% of the cars value.</p> <p>The country seeks to have about 6,600 EVs on its roads in 2022 and by 2030, approximately 600,000 are expected.</p> </div> </div><div class="contribute-links"><span class="label">To suggest an update:</span><div class="links"><a href="/en/user/login?destination=node/769023" class="btn login-link">Login</a> <span>or</span> <a href="/en/user/register" class="btn register-link">Create an account</a></div></div></div></div><div class="group-chapter-eleven-items field-group-accordion field-group-accordion-wrapper effect-bounceslide" id="group-chapter-eleven"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 11: Mobility</a></h3> <div class="field-group-format-wrapper "><div class="field field-name-field-mobility field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><p>Traffic in the main capitals of the country has become so complicated in recent years that the vast majority of regional governments have opted to implement restrictions on mobility by using the "Pico y Placa" system. The last digit of a vehicle’s license plate determines whether or not it can enter into some parts of the city or the whole city. Therefore, many people opt for a second vehicle with a different last-digit on the license plate to avoid mobility restrictions, and this generates even more urban mobility problems. generating a greater problem for urban mobility. Public service vehicles for transporting cargo and passengers are exempt from these restrictions.</p> <p>Meanwhile, ride-companies such as Uber and Cabify are operating in Colombia. Although they reduce the use of private vehicles, they have been criticised for competing with regular taxi services.<br />  </p> </div> </div><div class="contribute-links"><span class="label">To suggest an update:</span><div class="links"><a href="/en/user/login?destination=node/769023" class="btn login-link">Login</a> <span>or</span> <a href="/en/user/register" class="btn register-link">Create an account</a></div></div></div></div><div class="group-chapter-twelve-items field-group-accordion field-group-accordion-wrapper effect-bounceslide" id="group-chapter-twelve"><h3 class="field-group-format-toggler accordion-item"><a href="#">Chapter 12: Key trends to watch</a></h3> <div class="field-group-format-wrapper "><div class="field field-name-field-key-trends-to-watch field-type-text-long field-label-hidden "> <div class="field-item even field-item-first field-item-last field-item-0"><ul> <li>The key factors for fleet sales growth are the companies that focus on their core businesses. This also makes the concept of fleet management outsourcing more and more important within these companies.</li> <li>Increasingly, companies have understood that they must invest in the safety of their employees, forcing them to carry out better maintenance campaigns in their vehicles and opting for qualified personnel in fleet management.</li> <li>Mobility improvements is a concept that is becoming more important in large cities as they suffer - daily - from traffic problems, parking problems, and others. This is forcing companies to seek new and innovate ways to solve thier transporation problems.</li> <li>Within the companies, the importance of reducing accidents in their drivers has been prioritised, leading them to invest in training and development programmes to have better drivers in defensive driving.</li> </ul> </div> </div><div class="contribute-links"><span class="label">To suggest an update:</span><div class="links"><a href="/en/user/login?destination=node/769023" class="btn login-link">Login</a> <span>or</span> <a href="/en/user/register" class="btn register-link">Create an account</a></div></div></div></div><span property="dc:title" content="Colombia" class="rdf-meta element-hidden"></span> </article> </div> </div> <aside class="sidebars"> <div class="region region-sidebar-first"> <div id="block-bean-wiki-colombia-square1" class="block block-bean"> <div class="entity entity-bean bean-dfp-block clearfix" about="/en/block/wiki-colombia-square1" typeof=""> <div 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