In Guatemala, reform of the Free Zones Law has been in place for two years, and as a result, several companies have withdrawn, while others are still waiting for the tax benefits to be restored before making any more investments.
Some companies are keeping their investments on hold, because the tax benefits applied to activities that take place in free zones were eliminated withDecree 19-2016.One such case is that of electric vehicle importer Electricmóvil. This companyis waiting for Congress to reform the Law and restore the benefits, before expanding its operations under this regime.
In 2015 55,000 motorbikes were sold and importing companies plan to increase sales by 11% during 2016 to reach 62,000 units.
An article on Elnuevodiario.com.ni reports that "... Sales of these vehicles in the Nicaraguan market reached a volume of 55,000 units in 2015, representing the best commercial result since 2008 and an increase of 23% compared to 2014, according to the Nicaraguan Association of dealers of Motor Vehicles (Andiva).
Up until March 18 a delegation of 51 Taiwanese companies will be in the country exploring business sectors of spare parts for cars and motorcycles, hardware and construction.
From a statement issued by the Chamber of Commerce of Guatemala (CCG):
Mr. Jorge Briz-President of the Chamber of Commerce of Guatemala and the Ambassador of China (Taiwan) Mr Adolfo Sun, announced the arrival of the Taiwan Trade Mission to Guatemala.
The Costa Rican Automotive company has acquired a car dealership in Dallas, bringing the number of subsidiaries of the company operating out of Costa Rica to five.
The new branch in Texas, was born under the brand Atkinson Toyota South Dallas and is dedicated to marketing Toyota and Scion brands of cars. Purdy Motor plans to continue expanding its operations primarily in North America.
The Ecuadorian firm Carrocerías Imce is once again considering investing in an assembly plant for bus chasis near Puerto Cortés.
The company Carrocerías Imce has not yet determined the amount of the potential investment, but confirmed they would need a plot of land measuring 4,000 square meters in order to install an assembly plant near the port which gives them maritime transport facilities.
Grupo Poma is planning to expand its portfolio of investments in Costa Rica venturing into housing construction projects and strengthening its presence in the automotive sector.
The Salvadoran group, which has been present in Costa Rica since 1993, is analyzing the possibility of complementing the office and hotel investments it has made in the country with the construction of residential high rise blocks.
Executives at Varma Carrocerías are analyzing the feasibility of operating an automotive assembly plant in the south of the country.
The company has agreements with Mercedes Benz, Hino, International and Volkswagen for assembling those brands of cars.
An article on Latribuna.hn reports that "... Branches in Valle and Choluteca attracted representatives from companies specializing in car body assembly and steel working."
Of the 904,000 units registered to date, the so-called "work bikes" with engines of between 125-200 cubic centimeters represent 60% of the total.
Between 2005 and 2014 the number of registered motorcycles increased by 439%, going from 167,643 to 904,747, according to figures from the Superintendency of Tax Administration (SAT).
The Guatemalan government has announced that the bus manufacturer HIGER is studying the feasibility of installing an assembly plant for light vehicles in the country.
The interest of the Asian company was revealed in the context of a tour in Guatemala by business representatives from the company who came to explore investment opportunities.
"Entrepreneurs 'have ratified their interest in investing in Guatemala, generating more formal jobs.
The country's economic growth is attracting new companies looking for space in a market that expects to sell over 15,000 new cars in 2014.
Automotive companies are planning significant investments in order to meet demand from Nicaraguan customers. Grupo Q will invest $12 million in 2014 mainly in infrastructure.
The Nicaraguan Association of Motor Vehicle Dealers (Andiva) has stated that "the goal is 15,225 units this year in sales from the distributors that make up the Nicaraguan Association of Motor Vehicle Dealers (Andiva)."
Increased demand and easier financing facilities provided by the motorcycle distributors are driving sales in an increasingly competitive market.
The motorcycle market in Costa Rica has added new participants in the last three years, during which imports of these vehicles went up by 30%.
During 2014, "the Directorate General of Customs, at the Ministry of Finance registered the import of 39,475 motorcycles, just 13% less than what was purchased in 2008, before the global economic recession started and one of the peak sales moments in this market."
With the entry of the Colombian brand AKT the motorcycle market in the country is diversifying and growing.
Unicomer Group, owner of the stores Gollo and La Curacao, will start selling AKT motorcycles, owned by the Colombian group.
Eduardo Córdoba, corporate business manager at Unicomer Group told Elfinancierocr.com: "It's a new line of business, part of Unicomer Group's strategy, and responds to the regional market situation in Costa Rica where we detected an opportunity to meet the needs of a customer segment that has evolved in its consumption habits. "
The sustained growth of the Panamanian economy is boosting luxury car consumption, championed by high-end cars.
The increase in sales of vehicles in 2013 in the luxury segment is expected to be repeated in 2014, according to representatives of the brands. The union of distributors also expects an increase, although it is more cautious.
Roberto Duran, CEO of Consúltenos, an Audi car dealership said: "We think that this year growth in our segment should be above 10%."
Distributors expect that at the end of 2013 a record will be broken when they register sales of 14,000 new cars.
Laprensa.com.ni reports: "The stabilization that the industry has experienced in recent years has been driven in part by attractive financing rates and the various marketing strategies which have been carried out."
One of the strategies is the trade sector fair Andiva Motor Show produced annually by the Nicaraguan Association of Automotive Vehicle Dealers (Andiva). In 2013 the sector expects 5% growth in sales, reaching 14,500 new vehicles, said Rafael Lacayo, president of Andiva.
A center for industrial and logistic automotive activities is planned in the grounds of a former shooting range.
In Nuevo Emperador, Arraiján, west of the Canal, in "an area that was used as a bombing range by the U.S. administration", the Panama Canal Authority (ACP) is studying the development of a vehicle transshipment center.
Rodolfo Sabonge, vice president of the Office of Research and Market Analysis of the ACP, said: "Here we see a great potential for development of logistics activities, specifically those which we have already spoken about, in the sense that Panama could be a center for transshipment and distribution of automobiles. "
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