Upon enactment of the U.S.-Colombian Free Trade Agreement, Colombia’s tariffs on U.S.-manufactured autos and auto parts will fall from 7.4 percent to zero. (White House fact sheet.)
The lead story reports the agreement on the FTA with the headline, “After a long wait, Free Trade Agreement with U.S. Will Become a Reality.”
And the graphic tells the story of a growing market: “Sales of new cars rose 79.4 percent in March.”
As predicted by Portafolio.co, Econometrics SA showed that March was the best month ever. Sales broke the record of November 2010, when 30,963 units were sold. Additionally, the March figure was higher than the same month of 2010, which was 18,015 units.In total, the cumulative sales for the first quarter of 2011 reached 78,618 vehicles, which means that growth was 58.3 percent, compared to the same period in 2010, which 49,676 were invoiced.
The president of the Colombian Association Renault, Saulo Arboleda, said the market reacted to offers and good prices and the preliminary figure is “fantastic.”
The front page comes from Newseum.org, which publishes a global selection of newspaper front pages every day. We’re glad to see the Newseum will remain open in the event of a federal government shutdown. It’s an excellent museum, and Saturday it celebrates its third birthday.