Grupo Q is investing $5 million in the construction of an automotive center of 4 thousand square meters, including an exhibition area and vehicle sales, parts and maintenance service area.
Representatives of the distributor of Nissan and Chevrolet, whose headquarters are in El Salvador, believe that the economic growth seen in Nicaragua in recent years has led to the arrival of new investments in different productive sectors. Carlos Enrique Quiros, commercial regional vice president of Q Group, told Elnuevodiario.com.ni that "... it is a good time to invest."
The tax exemption enjoyed by these vehicles is one of the factors driving their sales in the country, where three agencies are now marketing them and two are preparing their market entry.
Dealerships that have ventured into selling hybrid vehicles in recent years say the rise in sales is mainly due to these types of cars being exempt from vehicle restrictions in force in the country and because they only pay 10% of the selective consumption tax instead of 30% paid by conventional vehicles.
In 2013 there was a reduction in the collection of the selective consumption tax on "luxury" or non essential goods such as vehicles and alcoholic drinks.
For the first time since the 2008-2009 period the collection of the tax levied on imported goods such as vehicles, liquor and cigarettes fell by 11% compared to 2012, primarily in the area of vehicles.
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.
Grupo Q claims that it has won first place in Costa Rica, with its sales of the Hyundai brand, but Purdy Motors, with the Japanese Toyota says it maintains its leadership in sales.
The engines are roaring with contention after the importer Grupo Q, from El Salvador, announced that with its auto sales of the Korean brand Hyundai in 2011, it has become the number one seller in Costa Rica. The importer took out an advertisement published last Sunday where the information was released.
With a $ 5 million investment, Q Group has entered the business process outsourcing industry.
"In the first years of this new business line, they have consolidated as a service company through the implementation and operation of the technological platform in the various companies of the group and the next step, which they are taking now, is to open the regional market." said Elsalvador.com.
GEVESA and Grupo Q have concluded the companies' merger of their vehicle sales operations and the new group's name will be Grupo Q.
Juan Federico Salaverría, GEVESA president, explained that legally they will continually to operate independently, especially with regard to suppliers. GEVESA, which distributes the Mazda, Peugeot and Ford brands will take a 30% share in the new combined business.
With the acquisition of the rights to auto-parts and replacements, Group Q becomes the unique distributor of the Chevrolet brand in Honduras.
Ingrid Antúnez in an article published in Elheraldo.hn writes: "Honduras is the third country where the group represents the Chevrolet brand. At present, it is a dealer in Costa Rica and Nicaragua. Javier Madrid, general manager of Group Q, affirmed, “to become the distributor of Chevrolet for Honduras represents a vote of confidence that as a regional business you satisfy clients and meet their expectations of growth [even] set against the challenges of the local and global economy."
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