About 50% of the 147,000 new vehicles sold between March 2016 and December 2017 were financed by banks and financial institutions, for close to $1 billion.
An analysis of the vehicle fleet in Costa Rica by the Business Intelligence Unit at CentralAmericaData reveals that placement of loans for vehicle purchases during the period between March 2016 and March this year amounted to $1.2355 billion.
In the first two months of the year 8,768 new vehicles were registered, which is 12% less than in the same period in 2016.
Total sales of new vehicles in Panama in the first two months of this year fell by 12% compared with the same period last year, going from 9,992 to 8,768 units, according to figures from the National Institute of Statistics and Census (INEC).
Over the past year 66,700 new vehicles were registered, only 3% more than in 2015, while between 2014 and 2015, the increase was 7%.
Of the 66,700 new vehicles registered in 2016 in Panama, 28,000 were for regular cars, 20,000 were SUVs and 2,500 were luxury cars.In the case of pickup vehicles, almost 10 thousand units were registered, 19% more than in 2015.
Between January and October of this year 56,976 new vehicles were registered in the country, 3.5% more than in the same period in 2015.
The growth rate in the first ten months of the year contrasts with the growth rate registered in September, which was 8%.
Of the total number of registered vehicles during the first 10 months of the year, 42% were regular cars, 3.7% luxury cars, 29% SUVs, 1.7% minivans, 2% vans, 14% pick ups, 2.3% buses, 3.4% trucks, and 0.40% were others, according to figures from the Office of the Comptroller General of Colombia.
Between January and August this year, 43,976 new vehicles were registered in the country, almost 8% more than in the same period in 2015.
Of the total number of vehicles registered during the first eight months of the year, 41% were regular cars, 29% were SUVs, and 15% Pick ups, according to figures from the Office of the Comptroller General of Colombia.
In the first half of the year registration of vehicles grew by 7%, driven by registrations of SUV vehicles, which grew by 18% and by pickup trucks, which grew by 35%.
Data from the Comptroller General of the Republic showed that in the first half of the year 33,164 vehicles were registered, of which 13,877 were regular cars, 1,424 were luxury cars, 9,568 SUVs and 5,111 pick ups,In addition about 2700 buses, trucks and other vehicles were registered.
Up to December 2015 4.429 more new vehicles were sold than in 2014, representing an increase of 7.3%.
Total sales of new cars in Panama grew by 7.3% up to December 2015, going from 60,306 new cars sold in 2014 to 64,735 sold last year, according to the National Institute of Statistics and Census (INEC).
Between January and August 2015 40.917 new vehicles were sold the country, almost 8% more than in the same period in 2014.
Data from the Comptroller General's Office indicates that the largest increases were recorded in sales of minivans, with a rate of 59.8%, and regular cars, whose sales rose by 10% in the period in question.
In 2014, 84 000 new and used vehicles were sold in Guatemala, Costa Rica and Nicaragua alone, and it is expected that 2015 will close with an annual growth of nearly 10% across the region.
While the region has generally shown an upward trend in the marketing of vehicles, mainly new ones, the characteristics of each of the countries, particularly with regard to access to bank credit, makes the behavior of the auto market different in each.
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