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.
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).
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.
From January to May 22,408 new vehicles were sold in the country, 3000 more than in the same period in 2012.
Prensa.com 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. "
Receive more news about Economics
Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.
Lead Solution is trust & reliable used and brand new vehicle exporter in Japan. We deal with Many vehicle dealers and individual customers in every continent and have vast experience vehicle of vehicl
Operates in Costa Rica, Guatemala, Nicaragua, Panama, El Salvador, Honduras and Central America
Phone: (+81) 47-312-8887