Car Sales in Panama Continue to Decline

Decreases of 31% and 28% were reported in April and May respectively when compared to the same months last year.

Friday, June 5, 2009

According to the Automobile Distributors Agency Association of Panama (ADAP), since the beginning of the year, sales have been reporting decreases; 28% in January, 18% in February and 12% in March.

Edith Castillo wrote for Prensa.com: “Automotive Finance Manager, Ricardo de Roux, hopes that the market will level off for the second half of the year. 'It is not going to increase, but we do expect some stability because the elections are over, a new government will take office and these elements favor consumer decision-making processes’.”

More on this topic

The Best Selling Cars in Panama

March 2017

The union of vehicle dealers reported that the brands Toyota, Hyundai and Kia led sales in the country, with 35,000 units sold in 2016.

Figures from the Association of Automobile Dealers in Panama (ADAP) indicate that these three brands are the most commonly traded in the country.  Capital.com.pa indicates that the Toyota brand   "... leads the list with 42,249 vehicles sold in the last three years. In 2014 14,223 cars were sold and although in 2015 there was a drop in sales (13,642) they rebounded in 2016 and 14,384 cars were sold."

Panama: Cars Sales Continue to Lose Strength

September 2014

In the first eight months of the year car sales increased by 5% compared to the same period last year, a rate which is less than the growth in previous months.

The speed of growth in car sales in Panama continues to decline. Between January and August 38,034 vehicles were sold, which is just over the 36,190 units sold in the same period in 2013, according to data from the Association of Automobile Dealers in Panama (Adap).

Car Sales Up 16% in Panama

November 2013

Between January and October 2013 car dealers sold 46,983 new vehicles, more than the 6,379 cars sold in the same period of 2012.

The top selling brands include Hyundai, Toyota and Kia. The first had a growth of 9% between January and October, while Toyota and Kia sales increased by 23% and 35% respectively, compared with the previous year.

Panama's auto sales grow by 19%

July 2008

During the first six months of this year, automobile distributors sold 22,227 new cars, up 19 percent from the same period last year.

While 19 percent may seem impressive, it's down from last year's growth of 29 percent, according to the Panama Association of Auto Distributors.

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