Between January and July 2012, car dealerships in Guatemala sold 15.410 units, up 12% compared to sales in the same period in 2011.
According to the Association of Importers and Distributors of Motor Vehicles (AIDVA), in 2010 19.426 units were sold, whereas in 2011 the figure went up to 23.524.
"Among the positive factors in the automotive industry what stands out is sufficient liquidity in the financial system and the low interest rates offered by banks, ranking below 10 percent. In addition, it is also believed that the business has been favored by the country's higher economic growth ", added revistaindustria.com.
Nine businesses have expressed their interest in bidding for the projects regarding the building of electric transmission infrastructure in Guatemala with estimated costs of $504 million.
In March, the National Commission of Electric Energy (CNEE) of Guatemala opened the bidding process for the construction of 1,394 kilometers of powerlines as well as the interconnection between Mexico and the Interconecting System of Central Amercan States (SIEPAC).
In 2013 61.815 vehicles entered the country having a total value of $540 million, with Toyota, Kia and Honda being the three most imported brands.
In 2013 vehicle imports into Guatemala fell by 5.5% compared to total imports in 2012, going from $570 million to $540 million (CIF value), according to a report prepared by the Department of Commercial Intelligence at CentralAmericaDATA.COM.
Lack of security and high energy and logistical costs have caused the closure of 150 industrial companies in the past 5 years.
127 maquila operations have closed since 2005, firing 60.000 people. Pharmaceutics company Sanofi-Aventis sold its assets in Setember 2007, Avon did the same by the end of 2008, and more recently Kellog's announced its decision of closing its industrial operations in the country.
The opening of an office in the People's Republic of China and the signing of an agreement with the Arab League, mark the government's strategy to open new markets.
The Guatemalan President Otto Perez, said they are making efforts to initiate trade relations with China, for this reason the chancellor, Fernando Carrera, will lead a delegation to the country in two months time, in order to explore investment areas.
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