Automotive Industry had a Good Start in 2021

After vehicle sellers in Guatemala in 2020 faced a complex panorama as a result of the crisis caused by the pandemic, during the first quarter of the year a 30% y-o-y increase in the number of new imported units was reported.

Tuesday, May 18, 2021

Statistics from the Superintendence of Tax Administration (SAT) detail that in the first three months of 2021, close to 9,300 new vehicles were imported in the country, a figure that exceeds by 30% what was reported in the same period of 2020.

When reviewing the total data that takes into account the import of new and used units, the official figures specify that between the first quarter of 2020 and the same period of 2021 imports increased by 21%, going from 38,662 to 46,861.

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Although the industry is going through good times, entrepreneurs visualize some threats to the business, such as the shortage of microchips, a situation that complicates the availability of automobiles.

Alex Barillas, marketing manager of Grupo Cofino Stahl, told that "... the automotive industry is one of those affected by the microchip crisis and this has complicated the management of inventories".

See "Growing Interest in Hybrid Vehicles"

Regarding the causes of the increase in sales that was evidenced in the first three months of the year, Barillas specified that in "... Guatemala the demand increased significantly, for example some people who had planned trips opted to invest that budget to change their vehicle."

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Vehicle Sales: Optimism in Panama

January 2021

After a 50% year-on-year fall in new car sales in 2020, Panamanian businessmen expect a 25% increase in the number of units sold in the local market by 2021.

The covid-19 outbreak generated a health and economic crisis that severely affected the automotive industry. The most recent report of the Comptroller General of the Republic specifies that between January and November 2019 and the same period of 2020, the number of new vehicles sold in the Panamanian market decreased 54%, going from 44,101 to 20,349.

Used Cars: Demand in the New Reality

September 2020

During the first seven months of the year, 26,188 vehicles were imported to El Salvador, of which 18% were new units and 82% were used. Second-hand cars are still in demand in this new business scenario.

According to representatives of the Association of Vehicle and Automotive Parts Importers (Asiversa), the demand for used vehicles has been maintained in this context of economic crisis, but sales have fallen due to the drop in prices.

Car Sales Collapse Again

May 2020

During 2019 and the first month of 2020 in Nicaragua, light vehicle distributors reported that their income improved compared to 2018, however, in February and March of this year sales fell again, due to the crisis caused by covid-19.

In 2018 a political and economic crisis occurred in the country, which impacted the sales of the automotive sector, since for that year on average 200 new units of light vehicles were sold per month.

Vehicles: Sales Would Fall 50% This Year

April 2020

Due to the crisis generated by the Covid-19, car dealers in Panama estimate that during 2020 the number of units sold could fall by almost 50% compared to the figure reported in 2019.

If businessmen's forecasts are true, the negative trend of recent years would continue, since during 2019 47,866 units were registered in the country, 6% less than in the previous year.

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