Car Sales Up 16% in Panama

Between January and October 2013 car dealers sold 46,983 new vehicles, more than the 6,379 cars sold in the same period of 2012.

Tuesday, November 26, 2013

The top selling brands include Hyundai, Toyota and Kia. The first had a growth of 9% between January and October, while Toyota and Kia sales increased by 23% and 35% respectively, compared with the previous year.

The statistics were provided by the Automobile Dealers Association of Panama, which reported that in October alone 7,054 cars were sold, mainly due to the Panama Motor Show being held which involved about 30 car distributors.

"In 2012 50.609 new cars were sold across the country and projections for this year indicate that the numbers will be similar ...", reported Prensa.com.

According to the Superintendency of Banks of Panama, prior to September the balance of car loans totaled $911.5 million, 21% more than the balance recorded in September 2012.



More on this topic

The Best Selling Cars in Panama

March 2017

The union of vehicle dealers reported that the brands Toyota, Hyundai and Kia led sales in the country, with 35,000 units sold in 2016.

Figures from the Association of Automobile Dealers in Panama (ADAP) indicate that these three brands are the most commonly traded in the country.  Capital.com.pa indicates that the Toyota brand   "... leads the list with 42,249 vehicles sold in the last three years. In 2014 14,223 cars were sold and although in 2015 there was a drop in sales (13,642) they rebounded in 2016 and 14,384 cars were sold."

Panama: Car Sales Up 7%

January 2015

In 2014 60.304 new vehicles were sold, 7% more than in 2013, with Toyota, Hyundai and KIA being the top of the list of best selling brands.

According to the Automobile Dealers Association of Panama (ADAP), sales projections for 2014 were for 58,000 units, however, with the Panama Motor Show sales surpassed 60,000 units. It is expected that for 2015 growth will be around 2% to 4%.

Car Sales Hold Firm in Panama

November 2014

Although the growth rate is still lower than in previous years, in the first ten months of the year 50,882 vehicles were sold, down 8% compared to the same period in 2013.

It is expected that by the end of 2014, 59, 000 new cars will have been sold throughout the year, which would surpass the sales of 2013, when 56,147 new units were sold.

Panama: Automotive Boom Continues

May 2014

In the first four months of the year 18,000 new cars were sold, 10% more than in the same period in 2013.

With the sale of 4,797 new vehicles between January and April 2014, Toyota ranks as the best-selling car brand in the country. In second place is Hyundai, with 3,245 units and in in third place Kia, with 2,917 vehicles sold.

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