SendPrintAdd To Colombia's Car Sales Rise 39% In July On Yr To 21,979 Cars

Colombia's Car Sales Rise 39% In July On Yr To 21,979 Cars

BOGOTA (Dow Jones)--Colombian vehicle sales at the wholesale level totaled 21,979 units in July, up 39% from the same month last year, according to data released late Friday by industry group Comite Automotor.

Vehicle sales jumped 42% to 145,389 units in the first seven months of the year from the same period in 2006.

Higher personal income and the strengthening of the peso are propelling the auto sector in Colombia.

The Colombian peso has risen 12% against the U.S. dollar so far this year boosted by rising foreign direct investment, foreign portfolio investment and remittances.

The Colombian peso rose 2% last year and 21% between 2004 and 2005.

General Motors Corp. (GM) topped the sales rankings in July with 8,007 units, up 20% from the same month last year.

French car maker Renault (13190.FR) took the No. 2 spot, with 3,156 units, up 60% from the same month a year ago when 1,978 cars were sold.

Korean Hyundai Motor Co (005380.SE) sold 2,536 units in July, up 40% from the same month a year ago.

Comite Automotor's statistics cover more than 90% of the vehicles sold in Colombia, including buses, private vehicles, taxis and trucks.