Sale of automobiles slows in Panama

Sales by the sector reflect the economic condition of the country. Next year, car sales will depend on banking policies.

Wednesday, November 5, 2008

This rate of growth, 33% of sales, is the lower than in 2007.

According to the Superintendence of Banks, 16 entities are competing to grant credit for cars in Panama and 4 are leading the sector. From January to September 2008, credit increased 23.9% when compared to the same period in 2007, which is lower than in previous years.

More on this topic

Panama: Car Sales Up 19% in March

April 2013

During the third month of 2013 automakers in Panama sold 19% more cars than in the same period in 2012.

According to the Automobile Dealers Association of Panama (ADAP), in March 4479 units were sold, while in the same period last year the figure was 3771.

"In the first three months of this year 12,473 new cars have been sold.

Car sales in Panama slowdown

November 2008

October had the best sales in the last two years with an increase of up to 31%, however this was the end of the upward trend.

The first quarter closed with an increase of 19%. In July it was at 18%, much lower than the 32% increase in the previous year. In September the increase was 14%, according to data gathered by the Association of Automobile Distributors and Agencies of Panama (Adap).

Panamanian Car Sales Increase

October 2011

In the first nine months of the year new car sales increased by 26% compared to the same period in 2010.

According to the Automobile Dealers Association of Panama (ADAP), in September a total of 32,720 new cars were sold. Sector expectations are that at the end of the year the total amount of cars sold will be 44,000.

Boom in Car Sales in Panama Continues

July 2013

From January to May 22,408 new vehicles were sold in the country, 3000 more than in the same period in 2012. reports that "although 2013 began with a 3% drop in vehicle sales, which was due to an increase in spending generated by the year-end holidays, and therefore a reduced availability of money, subsequent months have shown gradual increases. "

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