Automotive Business Maintains its Appeal

Sales projections for this year are not the best, but the decision of three foreign companies to enter the Costa Rican automotive market shows that there is still potential to grow more.

Wednesday, April 11, 2018

In the last year, the companies Ambacar, from Ecuador, Inchcape, from England, and Euro Advance, linked to Grupo Cofiño, from Guatemala, entered the market through the purchase, partial or total, of local distribution agencies. 

See also: "The Vehicle Market in Central America"

Although it is expected that this year car sales will continue their tendency to decelerate, registered since last year, the decision by these companies to invest in the Costa Rican market reflects the fact that there is still potential for growth.

"...The motivations range from long-term business relationships to market analyzes that determine that there is little vehicular penetration in the national territory."

For example, the English firm Inchcape, which in March announced the purchase of the representative group of Suzuki in Costa Rica and Panama , explained to Elfinancierocr.com that they decided to do so because "... both Central American markets present opportunities for structural growth due to low rates of vehicular penetration and the expectations of economic growth."

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