After in 2020 in the Salvadoran market the marketing of vehicles classified as luxury decreased 20%, brands such as BMW expect that 2021 will be better, since its local sales in the first two months of the year started off well by increasing 8% year-on-year.
During last year, 220 premium segment vehicles were sold in El Salvador, 47% of the total number of units sold corresponds to the BMW brand.
In Central America, more than 8 million people search the Internet and participate in conversations associated with motorcycles. BMW, Suzuki and KTM are some of the brands with the greatest presence in the interactions of consumers with high purchasing power.
An analysis of consumer interests and preferences in Central America, prepared by the Trade Intelligence Unit of CentralAmericaData, yields interesting results on people's preferences and tastes for motorcycles and other types of products or services.
It is estimated that at the end of 2019, 23% of the motorcycles circulating nationally were of the brands Honda, Yamaha, Suzuki, Vento and Bajaj.
The report 'Vehicle fleet in Mexico 2019', from the Trade Intelligence Unit of CentralAmericaData, provides details on the characteristics of different vehicles that travel through the streets of the Mexican states.
Entrepreneurs in the sector have stated that the phenomenon affects Costa Rica exclusively, since at the global level prices of automobile sales are maintaining an upward trajectory.
According to statistics from the Ministry of Finance in Costa Rica, 5,835 new and used units came into the country in the first five months of the year, which represents a 16% drop compared to the same period in 2017.
Between January and October this year more than 1,300 high-end vehicles were sold, equivalent to 5% of new car sales in the same period.
According to the Association of Importers and Distributors of Motor Vehicles, the bestselling luxury car brands up until October of this year were: Audi, with 382 units, BMW, with 340 units sold, Land Rover with 127 units and finally Porsche with 104 cars.
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%."
Electronics corporation Phillips, luxury car maker BWM and Genzyme Corporation labs will install regional headquarters in the country.
These companies have applied under Law 41, which created a special regime for Headquarters of Multinational Corporations.
"BMW Latin America ... will expand its regional operations, absorbing part of its administrative and operational functions from Venezuela, Brazil and Argentina.
Beginning today the company, which already had the distribution of BMW motorcycles, will begin selling cars as well.
The new representation is planning to move BMW’s central offices in Curridabat to a new location in La Uruca, in San José.
El Financiero’s website informs: “The old brand distributor was Euroautos, a Panamanian company…it will provide details about the acquisition of the new representation on July 8th.”
EU Ministers of Finance debated on Tuesday over recession forecasts, which were confirmed by data from the automobile sector.
German luxury automaker - BMW, part of a series of leading companies that are lowering their profit expectations, indicated on Tuesday that its net earnings for the third quarter went down 63% to 298 million euros and that it would cut production this year by 40,000 additional units.