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.
Although the numbers do not match those of 2007, a record year, in 2011 Nicaraguans are set to spend $112 million on new vehicles.
Distributors expect that at the end of 2013 a record will be broken when they register sales of 14,000 new cars.
In the first eight months of 2013 36,189 vehicles were sold, 4,848 more than in the same period of 2012.
Grupo Kaufmann from Chile, a distributor for Mercedes Benz, is negotiating the purchase of Grupo Q’s operations in Panama.
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