Profits surge for Panamanian car dealer Fasa

Financiera Automotriz (Fasa), owner of Nissan, BMW and Renault distributorships in Panama, registered a net profit of US$6 million in the first six months of the fiscal year, a 35.4 percent year-on-year increase.

Wednesday, May 21, 2008

But Fasa, which also has operations in Guatemala and Costa Rica, saw revenues drop over the period by 5 percent to US$107 million.

More on this topic

Smiles in the Guatemalan Automotive Sector

October 2012

Between January and July 2012, car dealerships in Guatemala sold 15.410 units, up 12% compared to sales in the same period in 2011.

According to the Association of Importers and Distributors of Motor Vehicles (AIDVA), in 2010 19.426 units were sold, whereas in 2011 the figure went up to 23.524.

Costa Rica: Car Dealers Announce Investments

February 2011

Purdy Motor Company, Veinsa, Xiria Autos and Bavarian Motors announced investments for this year.

Purdy Motor company announced the opening of a new a workshop in Perez Zeledon, in addition to the recently opened in San Carlos.

"Bavarian Motors (BMW and MINI representative) recently opened a branch in Escazú.

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.

Guatemala auto sales down in tandem with slowdown in economy

June 2008

Sales of automobiles in Guatemala in the first four months of the year were 6.3 percent down on the same period of 2007, in tandem with a slowdown in the economy.

The Association of Vehicle Importers and Distributors said 10,910 units were sold from January through March, down from 11,645 in the 2007 period.

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