Central America and the Automotive Market

In 2017, the regional spare parts and auto parts market registered a 5% compared to the same period in 2016, motorcycles numbers remain unchanged, and imports of new tires went down 4%.

Monday, July 2, 2018

Data from the interactive report "Automotive market in Central America" compiled by the Business Intelligence Unit at CentralAmericaData.

Light vehicles
The value of imports of light vehicles made by the Central American countries in 2017 was $2.667 billion, 6% less than in 2016, and 32% was purchased by companies in Panama, 29% in Costa Rica and 21% in Guatemala.

New Tires 
In 2017, imports of new tires in Central America totaled $428 million, 4% less than was reported in 2016, and 29% was purchased by companies in Guatemala, 18% in Costa Rica, 16% in Panama, 14% in Honduras, 13% in Nicaragua and 10% in El Salvador.

Motorcycles
Last year, purchases of motorcycles from Central American countries totaled $421 million, similar to the $420 million reported in 2016. 

Guatemala is the main buyer of motorcycles, as imports made in 2017 by the country amounted to $181 which is equivalent to 40% of regional purchases. 

Vehicles for transportation of goods
Last year, purchases of vehicles for transportation of goods made by countries in the region amounted to $1.155 billion, a figure that is 2% lower than the value reported in 2016.

Guatemala is the main buyer of this type of vehicle, which includes units with maximum load capacity of up to 20 tons and over 20 tons, since the imports made in 2017 by the country amounted to $309 million which is equivalent to 26% of regional purchases.

Auto parts
According to estimates by CentralAmericaData, between 2016 and 2017 the import value of accessories and spare parts for vehicles in Central America registered an increase of 5%, going from $1.043 billion in 2016 to $1.1 billion in 2017.

In the last five years the region reported a sustained increase in imports, registering an average annual growth of 5%.  

Tenders
According to the report, there are currently 88 public procurement processes in force in Central American countries, which are awaiting receipt of offers, among which are purchases of automotive parts, vehicles of different types, vehicle repair services and others.

The interactive report "Automotive Market in Central America" made by CentralAmericaData includes up to date figures and details about the auto parts market, new tires, vehicles of different types, aggregate figures of the vehicle fleet, tender information and news from the sector. All of the information is at a regional level and by country.

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More on this topic

Autoparts: Market Continues to Rise

June 2018

In 2017 imports of vehicle parts in Guatemala totaled approximately $306 million, which represents an increase of 4% compared to the previous year.

Figures from the information system on the Market for Spare Parts for Vehicles in Guatemala, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA Caption = "Click to interact with graph"]

Autoparts Business Growing in Central America

May 2018

In 2017, the region imported close to $1.1 billion worth of spare parts and vehicles, 5% more than was bought in 2016.

Figures from the information system on the Market for Spare Parts for Vehicles in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA Caption = "Click to interact with graph"]

Autoparts in Central America: a $1 Billion Market

July 2017

In 2016, the region imported close to $1.043 billion worth of spare and replacement parts for vehicles, 8% more than what was purchased in 2015.

Figures from the information system 'Market for Spare Parts for Vehicles in Central America', prepared by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with the graph"]

Age of the Vehicle Fleet in Central America

June 2017

In December 2016, 20% of the vehicles circulating in the countries of the region were between 1 and 5 years old, and 19% between 6 and 10 years old.

Data from the report "Vehicle Fleet in Central America 2016" compiled by the Business Intelligence Unit at CentralAmericaData shows the different characteristics of the vehicles circulating in Central American countries.

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