Group Excel Foresees Sale Increases for Chinese Cars

Since October of 2008, the automotive company has been marketing the Chinese brands of Chery and Wulling in Costa Rica.

Thursday, June 18, 2009

The commercial manager of Excel Automotriz, Adolfo Rubí, indicated that the company estimates an increase in the sales of these brands in the coming years.

El Financiero gathers in its web portal more comments from the manager: “...Vehicles of Chinese brands will face processes similar to those faced by Japanese, Korean, and Europeans brands in the past. There wasn’t a lot of knowledge about those brands, but they later obtained significant shares of the market."

More on this topic

Prospects for the Automotive Sector in Panama

July 2011

Over the next four years it is expected that annual sales will average 42,000 vehicles, according to BBVA Research.

The prospects for the Panamanian automotive sector are positive considering the projected boom in income and economic activity. Over the next four years it is expected that annual sales will average 42,000 vehicles.

Car Sales in Panama Continue to Decline

June 2009

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

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.

Car Sales in Panama Drop by 24%

March 2009

February closed with the sale of 2,769 new cars, but 3,394 units were sold during the same period in 2008.

This represents the lowest figure in the last 12 months.

Journalist Manuel Luna wrote in laestrella.com.pa: "Luxury brands were affected such as Mercedes Benz where 23 cars were sold in January and only 15 were sold in February, while Lexus went from 20 to 8 cars sold.

Panama: Automotive Boom Continues

May 2014

In the first four months of the year 18,000 new cars were sold, 10% more than in the same period in 2013.

With the sale of 4,797 new vehicles between January and April 2014, Toyota ranks as the best-selling car brand in the country. In second place is Hyundai, with 3,245 units and in in third place Kia, with 2,917 vehicles sold.

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