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.
The Directorate General of Taxation has suspended the decree that prevented agencies and distributors from importing latest model vehicles, corresponding to 2018.
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%.
The union of distributors plans to close 2016 with an annual increase of between 3% and 5% in sales of new vehicles.
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.
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