New Car Sales Up 6% in Panama

In the first three months of 2012, 23,400 new cars were sold, driven by a greater availability of credit, and more varied supply.

Thursday, July 12, 2012

This is one of the areas that responds the quickest to the ups and downs of the economy, and the cumulative increase year over year of auto sales is a clear sign of the current expansive force of the Panamanian economy.

An article in Laestrella.com.pa reports that "According to the development of sales this year automotive trade could close with the sale of approximately 49,000 new units, equivalent to a GDP growth of 6%."

The most sought after models are: Accent GL (1.582) Elantra (1282), Hi Lux (1202), Tucson IX (1073), Rio (862), CRV (801), RAV 4 (762), Picanto Hatchback (656), Sportage (643) and Frontier (610).

More on this topic

Costa Rica: Imports of 2018 Car Models Permitted

March 2017

The Directorate General of Taxation has suspended the decree that prevented agencies and distributors from importing latest model vehicles, corresponding to 2018.

The restriction on imports of 2018 models came into effect in October last year, when the Ministry of Finance issued Decree No. 39941-H.

Panama: New Car Sales Slow Down

February 2017

Over the past year 66,700 new vehicles were registered, only 3% more than in 2015, while between 2014 and 2015, the increase was 7%.

Of the 66,700 new vehicles registered in 2016 in Panama, 28,000 were for regular cars, 20,000 were SUVs and 2,500 were luxury cars. In the case of pickup vehicles, almost 10 thousand units were registered, 19% more than in 2015.

Honduras: Good Perspectives for Car Sales

November 2016

The union of distributors plans to close 2016 with an annual increase of between 3% and 5% in sales of new vehicles.

Industry representatives estimate that the vehicle fleet will close 2016 with an annual growth of 10%, with at least ".... 15 thousand vehicles circulating in the country." 

Utility Vehicle Sales in Guatemala Grow

June 2012

In the first 5 months of the year, importers sold 2,960 new trucks, an increase of 63% compared to the same period in 2011.

In the first 5 months of 2011 1,820 new trucks were sold meaning that the figures for the first 5 months of this year show an increase of 62.6%, despite rising fuel prices.

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